Norway's Financial Supervisory Authority has published a report closing its inspection of Pareto Asset Management AS's compliance and internal audit arrangements. The inspection formed part of a thematic review conducted from May 2025 to April 2026, covering five fund management companies and three alternative investment fund managers within a European Securities and Markets Authority coordinated supervisory exercise. The assessment examined whether control functions had sufficient resources, expertise and authority to perform their duties effectively. It reviewed proportionality assessments and risk management arrangements, alongside control planning, board reporting and outsourcing. The assessment relied on submitted documentation, including questionnaire responses, and did not test compliance with the firm's internal procedures. Pareto Asset Management is expected to review the accompanying consolidated findings, assess them against its own organizational arrangements and use them in its improvement work.
Norway's Financial Supervisory Authority closes inspection of Pareto Asset Management's compliance and internal audit arrangements
Norway's Financial Supervisory Authority has closed its inspection of Pareto Asset Management AS's compliance and internal audit arrangements, part of a European supervisory exercise covering eight Norwegian fund managers. The review assessed documented arrangements rather than adherence to internal procedures. The firm is expected to assess the consolidated findings against its own organization and use them to guide improvements.