Regulatory Alerts2017-09-26
Collection of Non-Matured Claims
The Norwegian Financial Supervisory Authority mandates that debt collection agencies handling non-matured claims through invoice administration must secure these client funds with specific collateral or insurance. This requirement addresses the gap where such funds previously lacked the protection offered by the statutory security deposit required for matured debt collection. Alternatively, agencies may avoid this obligation by organizing collections so that debtors pay directly to the creditor's account rather than through the agency's client account.
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