Norway: Financial Services

This edition covers major developments in Norwegian consumer and market law, including the landmark class action ruling against Riverty over payment fees, ongoing litigation challenging banks' interest rate adjustment clauses, and updated guidance on environmental marketing claims. The newsletter also examines EU's proposed Kids Act regulations and enhanced platform requirements now applicable to ChatGPT, Reddit, and Roblox.

The European Commission has adopted new regulatory technical standards that fundamentally reshape how investment firms must demonstrate best execution quality, moving from a disclosure-based framework to an evidence-based model requiring continuous monitoring against objective market data. With application beginning in February 2028, firms face an 18-month window to overhaul execution policies, establish formal monitoring processes, and potentially upgrade their technology infrastructure. The new rules mand

Norway's Ministry of Finance has expanded the scope of the EU's Digital Operational Resilience Act (DORA) to include financing companies, real estate agencies, debt collection agencies, and the Norwegian Natural Perils Pool.

The draft directive on corporate sustainability due diligence ("CSDD-directive") is still in the making, but with a draft from the European Commission and the Council of the European Union...

On June 1, 2023, certain amendments are being made to the Market Abuse Regulation ("MAR") as implemented in Norway. The amendments are caused by the enactment of the EU SME Growth Market Regulation (2019/2115).

The European carbon market has grown substantially since its start in 2005. With the extension of the EU ETS to include the shipping sector, and an annual reduction...