Establishment of management companies for securities funds
To engage in securities fund management, you must have a license from the Financial Supervisory Authority of Norway. Only private limited companies or public limited companies may engage in securities fund management.
About this form
All private limited companies or public limited companies that will manage a securities fund.
The management company must satisfy a number of statutory requirements. Requirements for the content of an application and documentation that must be enclosed are stipulated in Section 2-2 of the Securities Funds Act. No separate guide has been prepared for applications for licenses to engage in securities fund management, however the guide for applications for licenses to provide investment services may be of assistance.
Securities fund management may only be carried out by limited liability coAmong other things, a license requires that the management company has own funds that are in reasonable proportion to the activities the management company will carry out. The management company must have own funds upon start-up and at all times that amount to at least the equivalent of EUR 125,000 in Norwegian kroner. In addition, the management company's day-to-day/actual management, board members and shareholders with a qualifying holding must be deemed suitable.
Management companies wishing to engage in cross-border activities to or establish a branch in another EEA country must send notice of this to the Financial Supervisory Authority of Norway for processing.
Processing time
The application for a license to engage in securities fund management shall be processed as soon possible and no later than six months after a complete application is received.
Right to appeal
Applicants have a right to appeal under Section 28 of the Public Administration Act.
