The Norwegian Financial Supervisory Authority has issued a decision concluding that Aker BP ASA breached the notification obligation under the Market Abuse Regulation (MAR) and has imposed an administrative penalty of NOK 75,000. The authority found that both the objective and subjective conditions for an administrative fine were met under MAR Article 19 and the Norwegian Securities Trading Act, and did not accept the company’s argument that the breach was a mere oversight. It assessed that the employees responsible for reporting notifiable transactions did not exercise sufficient care to ensure timely reporting and disclosure, and that stronger controls and quality assurance could have prevented or identified the failure earlier. In setting the amount, it considered that the transaction value was not insignificant, the delay was long, and publication occurred only after the authority contacted the company. The decision will be published on the authority’s website and can be appealed within three weeks of receipt to the Finanstilsynet Complaints Board. Collection is handled by the Norwegian Tax Administration via the State Collection Agency, with payment due three weeks after invoicing, issued after the appeal deadline or after an appeal has been decided.
Norwegian Finanstilsynet 2026-03-26
Norwegian Financial Supervisory Authority imposes NOK 75,000 administrative fine on Aker BP for breach of MAR managers’ transactions notification duty
The Norwegian Financial Supervisory Authority fined Aker BP ASA NOK 75,000 for breaching the notification obligation under the Market Abuse Regulation. The authority determined that the breach was not a mere oversight and highlighted insufficient care in reporting notifiable transactions. The penalty reflects the transaction's significance, the delay in reporting, and the fact that disclosure occurred only after the authority's intervention.