The Director General of the Norwegian Financial Supervision Authority (Finanstilsynet) has been given overarching responsibility for its operations, set out in the new Act on Finanstilsynet.

A new Board of Directors, named the Financial Supervision Appeals Board, will also review and decide on individual supervisory and licensing affairs. The new board is also a part of the Appeals Board Secretariat in Bergen.

The new Act, (Financial Supervision Act), commenced on April 1, 2025, and replaces Act no. 1 of December 7, 1956, on the Supervision of Financial Institutions etc.

With the new provisions, Finanstilsynet also took over some of Oslo Børs (Oslo Stock exchange) tasks, such as:

• supervision of the ongoing disclosure obligation and delayed disclosure of inside information rules;
• supervision of share buy-backs and stabilization; and
• the responsibility as takeover supervisory authority.

“Finanstilsynet’s social mission to promote financial stability and well-functioning markets is included in a new provision in the Act,” the authority said. It also added that it would be continuing its “comprehensive supervision of the financial sector across various types of institutions and markets.”

The Norwegian Financial Supervision Authority also stated that the new act sets out clear requirements for confidentiality and independence for both the authority’s employees as well as for the members of the Board of Directors. Which includes restricting the Ministry of Finance’s former right to instruct the authority.