ARTICLE · 12 AUGUST 2024

Asset Management & Investment Funds - News Update

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Managers of alternative investment funds and UCITS-funds may establish branches and carry out activities on a cross border basis into other EU/EEA states.

NorwayFinance and Banking

Vibeke K. Svendsby

Klaus Henrik Wiese-Hansen

Cross border activities of management companies - notifications requirements will be specified

Managers of alternative investment funds and UCITS-funds may establish branches and carry out activities on a cross border basis into other EU/EEA states. Norwegian managers must notify the Financial Supervisory Authority of Norway (Finanstilsynet) in order to carry out activities on a cross-border basis in the EU/EEA area. Finanstilsynet shall, within a month of receipt of such notification forward the notification to the supervisory authority in the host state and notify the manager of this. The manager may carry out cross-border activities upon receipt of this notification. Norwegian managers wishing to establish a branch in another EU/EEA state must follow a similar procedure, but in this situation Finanstilsynet is required to forward the branch notification to the supervisory authority in the host state within two months of receipt.

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