The Financial Supervisory Authority of Norway has issued a decision imposing an infringement fee of NOK 544,000 on Interoil Exploration and Production ASA for delayed public disclosure of its 2024 annual report, in breach of the Securities Trading Act’s deadline requirement. The annual report had to be published no later than four months after the financial year-end, meaning by 30 April 2025, but was instead published on 13 June 2025. The authority assessed the delay as negligent and found no excusing circumstances, noting the expectation that listed companies maintain sufficient internal controls, competence and resources to meet time-critical disclosure obligations. In setting the amount, it applied its approach of linking fees to market value as of 1 January of the publication year, using the company’s 2025 annual listing fee of NOK 272,000 as a starting point, and treated prior sanctions for late annual reporting (2020 and 2023) and a separate penalty decision on reporting errors in 2024 as aggravating factors. Interoil may appeal within three weeks of receiving the decision; the appeal body is the Financial Supervisory Authority Appeals Board, with the appeal filed via the authority. Collection will be handled by the Norwegian Tax Administration’s national collection agency, with an invoice issued after the appeal deadline expires or after any appeal is decided, and a payment deadline of three weeks from invoicing.
Norwegian Finanstilsynet 2025-09-15
Financial Supervisory Authority of Norway imposes NOK 544,000 infringement fee on Interoil for late publication of its 2024 annual report
The Financial Supervisory Authority of Norway imposed a NOK 544,000 infringement fee on Interoil Exploration and Production ASA for delayed disclosure of its 2024 annual report, violating the Securities Trading Act. The delay was deemed negligent, with no excusing circumstances, and prior sanctions were considered aggravating factors. Interoil may appeal the decision to the Financial Supervisory Authority Appeals Board.