Regulatory Alerts2017-10-03
Co-location and Shared Operations Between Real Estate Brokerage Firms and Banks
The Norwegian Financial Supervisory Authority issued this circular to clarify the regulatory framework for real estate brokerage firms co-locating with and sharing operations with banks. It mandates strict information handling protocols and physical separation to prevent breaches of confidentiality and protect the integrity and independence of brokers. While shared administrative services are permitted, employees involved in brokerage activities are prohibited from performing banking tasks, and open-plan office layouts that risk exposing confidential information are not acceptable.
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