The Financial Supervisory Authority of Norway has published its 2025 annual report, stating that it largely carried out last year's work in line with the Ministry of Finance's allocation letter and its own strategy. The report summarises the authority's supervisory activities and results for 2025 and frames its role as contributing to financial stability and well-functioning markets. Alongside an overview of leadership, organisational metrics, equality, inclusion, diversity, communication and cooperation, the report sets out planned and completed supervisory work against strategic goals and performance measures. Its governance section highlights board matters, the new Financial Supervision Act that entered into force on 1 April 2025, digitalisation and simplification projects, and internal control and security. The outlook section identifies risks linked to instability in international financial markets, competitiveness and operating conditions for the financial sector, digital vulnerability and preparedness, economic crime, and climate risk and sustainability, and describes a risk-based supervisory approach that prioritises measures and tools with the greatest effect. The report also includes the authority's annual accounts, which are audited by the Office of the Auditor General, and notes that short reports on 2025 supervisory activity across individual areas were published in February.