Any deviations from the Code of Practice shall be explained on the company’s website, as further described in section 3.1.Ĭode of Practice for legal provisions of relevance for investors to be provided on the company websiteĪ large portion of the companies listed on Oslo Børs are foreign, and the proportion of foreign shareholders in many of the listed companies is high. “We comply with the Oslo Børs Code of Practice for IR of 1 March 2021”Ĭompliance with the Code of Practice will be based on a «comply or explain» principle. Oslo Børs´ intention is to revise the Code of Practice for IR on a regular basis.įor listed companies wishing to highlight compliance with the Code of Practice, the following wording is proposed on the company’s website: In some areas the Code of Practice for IR is more comprehensive than the regulatory framework. We would like to emphasise that the Code of Practice for IR does not replace these. Several of the themes addressed by this Code of Practice for IR are governed by detailed laws and regulations. Listed companies must comply with a number of laws and regulations, and it is important that IR personnel are aware of the relevant provisions. The Code of Practice for IR has been prepared by Oslo Børs in collaboration with the Norwegian Investor Relations Association (NIRA), and is based on the NIRA’s and Oslo Børs’ joint views on best practice for reporting financial and other IR information. It also applies insofar as it is relevant to companies that have equity certificates listed on Oslo Børs, and may also be an appropriate source of guidance for companies admitted to trading on Euronext Growth (operated by Oslo Børs). The Code of Practice for IR has been prepared for companies that have shares listed on Oslo Børs or Euronext Expand. Relevant, accessible and up-to-date information generates interest and confidence – and is essential for liquidity. Oslo Børs wishes to contribute, through the Oslo Børs Code of Practice for IR (the Code of Practice for IR), to maintaining high standards of quality in the information provided by listed companies. Section 4-3 Duty of confidentiality and due care in handling inside information Section 4-2 Notification requirement for primary insiders Some investors also have notification requirements: Section 5-2 Content of the information requirement The Act also contains important provisions related to listed companies' obligations, such as duty of disclosure and equal treatment of shareholders: Section 3-14 Sales of financial instruments not owned by the seller Section 3-2 Definition of inside information The purpose of the Securities Trading Act is to lay the basis for secure, orderly and efficient trading in financial instruments. The Act contains general rules of conduct, such as: Here you will also find circulars, decisions from Oslo Børs and the appeal board, and other relevant material. The exchange and securities market is governed by a number of laws and regulations passed by public authorities. To facilitate efforts to locate the relevant legal provisions, we have compiled links to important laws and regulations within the stock exchange and securities area. The Norwegian Financial Supervisory Authority supervise regulated markets and multilateral trading facilities in Norway. section 17.1 of the Norwegian Securities Trading Regulation. Oslo Børs has also delegated authority to supervise compliance with and to sanction violations of the issuers’ obligation to disclose inside information pursuant to sections 5.2 and 5.3 of the Norwegian Securities Trading Act, cf. In addition, Oslo Børs has been appointed as take-over supervisory authority pursuant to section 6.4 of the Norwegian Securities Trading Act. Oslo Børs adopts rules for each of these markets to ensure fair and orderly trading and effi cient order execution. In addition, Oslo Børs operates one multilateral trading facility pursuant to section 9.8 of the Norwegian Securities Trading Act. Oslo Børs has a license as a regulated market from the Norwegian Ministry of Finance pursuant to section 11.1 of the Norwegian Securities Trading Act and operates two such regulated markets.
0 Comments
Leave a Reply. |