Capital overview :
LII
In law 25. November 2011 # 44 whether value paper funds are made the following changes :
Section 1-2 first clause new # 11 to sound :
| 11. |
Financial instruments : financial instruments as defined in the Value Paper Act Section 2-2 and related regulation. |
Section 1-5 third clause is repeaty. The current fourth clause is new third clause.
Section 1-5 new fourth clause should sound :
| (4) The Ministry can provide regulation on duty of the Management Company for the securities fund to link to price information in web-based price tractors. |
New Section 2-16 should sound :
SECTION 2-16.
Allowance arrangements
| (1) The prevalence company shall establish and practice a settlement arrangement that promotes good and effective risk management and management in compliance with the investment mandates of the value paper funds that are managing. The Allowance arrangement shall include employees with essential importance of the risk profile of the management company or fund under management, herless leading employees, employees with control tasks and employees with equivalent allowance as leading employees. The Allowance arrangement shall be adapted to enterprise species, scope and complexity. |
| (2) The Ministry of Justice can in regulation give closer rules on allowance arrangements. |
Section 8-3 different clause number 1 to sound :
| 1. |
identification of the fund and the regulatory authority of the fund, |
Section 8-3 different clause number 7 and new # 8 to sound :
| 7. |
enlightenment that key information not alone provides the basis for liability, if not the information is misleading, inaccurate or inconsistent in relation to information in prospectus, |
| 8. |
The indication that information on the management company's allowance arrangement is available on the Management Company's website, and that paper copy of the information is sent investor cost-free on request. |
Chapter 10 should sound :
Chapter 10 Depotted
SECTION 10-1.
Pliked to have a pit receiver mv.
| (1) The Prevalence Company shall designate one depotted receiver for each fund it trustee. |
| (2) The deal with the deciders shall be in writing. The Ministry of Justice can in regulation give rules about the agreement's content. |
| (3) The shift of the pit receiver requires permission from the SEC. |
SECTION 10-2.
The depots of the dealer
| (1) The power recipient shall be a credit institution with the ordinance attached home in an EEDS state and established in Norway. |
| (2) The SEC can consent in that a credit institution established in Norway with the ordinance attached home outside of EPS, can be depotted if the institution is subject to reassuring supervision and regulation in the homeland. |
| (3) The Ministry of Justice can in regulation give closer rules about the requirement of the depots, approval of the management of the depots and about duty of the enterprise to report changes to the SEC on changes to the management. The Ministry of Justice may also determine that leading employees should provide ordinary police reference after the police registry law Section 40 in connection with the approval of the management of the depotted function. |
SECTION 10-3.
Depoler's tasks
| (1) The power receiver shall control the value paper fund's cash flows, that payments from landseers in connection with drawings of shares have been received and that all liquidity funds are bookled on accounts opened in the fund's name or in the management company or the dealer's name on behalf of the fund. Accounts shall be established in central bank, credit institution with permission following the Financial Business Act Section 2-7, Section 2-8 or Directive 2013 /36/EU or equivalent enterprise in state outside the EPS subject to regulatory and supervision of customer funds. |
| (2) The power receiver shall verify that dispositions of the fund, herdunder trade for the fund, drawing and redemption, occurs in accordance with law, regulation and fund's ordinance. |
| (3) The power receiver shall verify that the andelsvalue is calculated in accordance with law, regulation and the fund's ordinance. |
| (4) The power recipient shall comply with instruction from the management company, unless these are in violation of law, regulation, or fund's ordinance. If the depotted recipient believes that an instruction from the management company is in violation of law, regulation, or fund's ordinance, and the relationship is not fixed within reasonable time, the depotted recipient shall notify the SEC about this. |
| (5) The power receiver shall verify that transactions for the fund are carried out within normal settlement deadlines. |
| (6) The power receiver shall verify that dividends or other return on the fund's funds are applicable in accordance with law, regulation, and the fund's ordinance. |
| (7) Financial instruments that can be registered on a value paper account, and financial instruments that physical can be provided shall be retained by the depotted receiver on behalf of the fund. For the fund's other assets, the depots shall be on the basis of information from the management company or other external sources checking and leading up to date overview that the fund is the owner of the activists. |
| (8) Fondsassets shall be retained separate from the depots of assets and shall at any time be able to be identified as its fund. By the insolvens of the depostage receiver or pit receiver's mission holder shall fund assets held in depot, not unshared or realized to benefit from the depots or mission of the dealer's creditors. |
| (9) The power receiver shall periodically give the management company a unified overview of all fund assets. |
| (10) The fund assets retained by the depotted receiver cannot be reused, unless reuse is permitted by rules determined by the ministry in regulation. |
| (11) The Ministry of the Ministry can in regulation give closer rules about depots, herders about the depots of the dealer's tasks. |
SECTION 10-4.
Depotter's access to outcontracting tasks
| (1) The Destroyer cannot provide another enterprise in assignment to the execution of tasks as mentioned in Section 10-3 first to sixth clause. |
| (2) The Ministry of Justice can in regulation give rules about the depots of the dealer's admission to outcontract other tasks than mentioned in the first clause. |
| (3) The use of the mission holder is without impact on the pit recipient's liability after Section 10-6. |
SECTION 10-5.
Good business custom and conflicts of interest
| (1) The power receiver is supposed to perform honestly, fair, professionally, independent and in the fund's and its land-owned interest. |
| (2) The function of the pit receiver shall be carried out independently of tasks that can result in conflict conflicts between the fund, its land-owned, the management company and the depots. Potential conflicts of interest shall be sufficiently identified, handled and monitored and lecturers the fund's land-owned. |
| (3) The Ministry of Health can in regulation give closer rules on good business custom and conflict conflicts. |
SECTION 10-6.
Depoler's replacement liability
| (1) The power receiver is responsible to the securities fund and its landseers for loss of financial instruments that are retained after Section 10-3 seventh clause the first period of the decider or depots of the depots, unless the loss is due conditions outside the depots of power that the depotted recipient did not with the equitable could be expected to avoid or overcome the consequences of. |
| (2) At loss as mentioned in the first clause, the deduction shall be without due to stay of a financial instrument of identical type, or an amount corresponding to the value of the instrument, to the fund or to the management company on behalf of the fund. |
| (3) The power receiver is responsible to the fund and its land-owned for any other loss as a result of the depots of depots negligent or intentional has defaulted on its duties by law or regulation. |
| (4) The power receiver cannot limit or waive replacement liability by appointment. Agreements in violation of the first period are invalid. |
| (5) The dealer's replacement liability to national fund and its landlords, herunder special funds, is regulated by law 20. June 2014 No. 28 about the Management of Alternative Investment Fund Section 5-4 and related regulations. |
| (6) The Ministry of Justice can in regulation give closer rules about the depots of the dealer's replacement liability. |
Section 11-1 first clause second period repit.
New Section 11-6 should sound :
SECTION 11-6.
Overcharge Fee
| (1) The SEC may illay the enterprise violation fee if the enterprise or someone who has acted on behalf of the enterprise, has violated Section 1-3 first period, Section 2-9 to 2-12, Section 2-15, Section 4-1 first clause, Section 6-1 to 6-11, Section 7-7, Chapter 8, Section 9-2, Section 10-1 to 10-3 or regulations provided in co-hold of the mentioned regulations, or terms in permits granted in co-provided regulations. Similarly, if the enterprise has been granted permission after Section 2-1 using incorrect information or other irregucical information. The effective fee can be illegation even if no single person has expelled guilt. |
| (2) When the violation fee can be illegation enterprises after the first clause, the violation fee in addition ilegges board members, general manager or actual leader in the enterprise, if the person has expelled or gross negligence in connection with the relationship that involves the enterprise illegation violation fees. |
| (3) The Ministry can give rules in regulation of what conditions can be emphasired by the decision of whether the violation fee shall be illegation, and at the measurement of the violation fee, therunder about upper frames for the violation fee. |
| (4) At delayed payment of the violation fee shall be paid interest after law 17. December 1976 # 100 on interest at delayed payment m. |
| (5) The Admission of the Admission of the violation of the violation of two years after the violation has been intercepted. The deadline is canceled by the SEC giving advance notice or grasp of the violation of the violation fee. |
Current Section 11-6 will be new Section 11-7 and should sound :
SECTION 11-7.
Punishment
With fines or imprisonment until 1 year, it is punishable by felony or repeatedly intentional or negligent-3 first period, Section 2-1, Section 2-7, Section 2-15, Section 3-2, Section 4-1 first clause, Section 4-6, Section 4-7, Section 6-1 to Section 6-9, Section 6-10 first joints, Section 6-11, Section 8-3, Section 8-4, Section 11-3, Section 11-4 first, second or fourth clause, Section 12-1 or Section 12-2, or terms given in permits given in co-hold of the above mentioned regulations.
New Section 11-8 should sound :
SECTION 11-8.
Financial vision-patient confidentiality of notification and sanctions mv.
| (1) Any performing work or service of the SEC or the Ministry of the Ministry, has secrecy to unauthorized information that discusses measures and sanctions that link to violation of rules in the law here or regulations in The co-hold of the law, as long as the public disclosure of the information can create serious concerns about the financial markets or inflict on the affected parties unsustainable great damage. The Prevalence Act Section 13 and Section 13 b to 13 e do not apply for information as mentioned in the first period. |
| (2) Any performing work or service of the SEC or the Ministry of the Ministry, has secrecy to the identity of persons who have provided messages, tips or similar information about violations of the law and its regulations, and whether other information that may make the identity known, with less use of the information is required as clause in further investigations of the violation or subsequent prosecution of the case. Tausheme's duties after the first period also apply to the issue of the case parties and their representative. |
V
| 1. |
The law applies from the time 1 The king decides. The king can put in effect the individual regulations at different times. |
| 2. |
The Ministry can give transition rules. |
| 1 |
Lovens Part I, II, IV and V will take effect 1 jan 2017 ifg. res. 16 des 2016 # 1592. |
