📋 Tender Overview
The Storting has adopted legislative amendments based on proposals in Prop. 74 LS (2023-2024) Amendments to the Finnance Market Legislation (omnidirection). Several of the legislative amendments will enter into force on 1 August 2024.
The King in Council has today decided that the amendments to the Securities Trading Act, the Securities Funds Act, the AIF Act and the Central Securities Depositories Act that implement Regulation (EU) 2015/2365 (SFTR), Regulation (EU) 2019/834 (EMIR REFIT) and Regulation (EU) 2022/858 (the DLT Regulation) will enter into force on 1 August 2024.
The SFTR lays down rules on securities financing transactions and the reuse of collateral. Article 33 of the Regulation contains transitional rules. The starting point for these transitional rules has been adapted in the EEA Committee's decision to incorporate the Regulation into the EEA Agreement, so that the provisions of the Regulation will be applied gradually after the Regulation enters into Norwegian law.
EMIR REFIT amends Regulation (EU) No 648/2012 (EMIR). The purpose is, among other things, to simplify legislation and make some of the obligations that follow from EMIR more proportionate.
The DLT Regulation sets up a temporary arrangement that allows market infrastructure companies, such as CSDs and trading venues in the category of multilateral trading facilities, to develop and test DLT-based business models for a limited period of time.
