The Financial Supervisory Authority of Norway has concluded that York Capital Management Global Advisors LLC breached the Norwegian disclosure (flagging) obligation and has imposed a violation penalty of NOK 100,000. The case relates to York Capital’s sale of 250,556 shares in Bluenord ASA on 17 July 2025, which triggered the 5% disclosure threshold, but was not notified to the market until 25 August 2025. Under the Norwegian Securities Trading Act, such notifications must be made immediately and at the latest by the opening of the regulated market on the second trading day after the transaction. York Capital attributed the delay to uncertainties in a tender offer process and stated it lacked procedures tailored to Norwegian disclosure requirements; Finanstilsynet assessed the breach as negligent and considered it avoidable with appropriate systems and procedures. The decision can be appealed within three weeks of receipt, with the Financial Supervisory Appeals Board as the appellate instance.
Norwegian Finanstilsynet 2026-02-02
The Financial Supervisory Authority of Norway imposes NOK 100,000 penalty on York Capital for late substantial shareholding disclosure
The Financial Supervisory Authority of Norway fined York Capital Management Global Advisors LLC NOK 100,000 for breaching the Norwegian disclosure obligation. York Capital failed to notify the market of a share sale in Bluenord ASA that crossed the 5% threshold within the required timeframe. The breach was deemed negligent due to inadequate procedures tailored to Norwegian requirements.