Regulatory Alerts2015-06-12
Opportunity to Make Long-Term Investments in Real Estate
The Norwegian Financial Supervisory Authority issued this circular to clarify that employees in real estate brokerage and law firms are generally prohibited from buying and selling real estate, with limited exceptions for personal use and long-term passive investments. The document outlines specific criteria for assessing whether such investments compromise professional integrity, including geographic and market separation, the employee's role in transactions, and the passive nature of the holding. Firms are required to maintain updated registers of employees' real estate rights and ensure compliance with these regulations under the supervision of the responsible professional.
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