In a speech published by the Norwegian Financial Supervisory Authority, Director General Per Mathis Kongsrud outlined how an EU-wide push for regulatory simplification is being reflected in the Authority’s own 2025 mandate to streamline its operations and processes for supervised firms, while stressing that the work is intended as simplification rather than deregulation. An internal working group established in spring 2025 mapped potential measures across reporting, rulemaking and guidance, supervisory processes, and administrative procedures. The Authority invited dialogue and received 21 written inputs from industry organisations and firms, including on supervisory reporting (RSR), sustainability reporting, overlaps between national laws, cross-border transfers of pension assets, anti-money laundering rules, and the Authority’s use of proportionality. Example workstreams included exploring data-sharing within existing legal frameworks through five projects in the Norwegian Data Protection Authority’s and the Norwegian Financial Supervisory Authority’s regulatory sandboxes, aimed at combating economic crime. Follow-up is planned through engagement with EU bodies, Nordic supervisory authorities, Norway’s Ministry of Finance, other agencies, and industry, alongside internal changes in culture and approach. Where sandbox work indicates a need for legal or regulatory change, any proposals are intended to be presented in a consultation paper.
Norwegian Finanstilsynet 2025-09-03
Norwegian Financial Supervisory Authority sets out a 2025 programme to simplify reporting, rule implementation and supervisory processes
The Norwegian Financial Supervisory Authority, led by Director General Per Mathis Kongsrud, is aligning its 2025 mandate with the EU's regulatory simplification efforts, focusing on streamlining operations for supervised firms without deregulation. An internal working group has identified potential measures in supervisory and sustainability reporting and is exploring data-sharing projects to combat economic crime. The Authority plans to engage with EU bodies and other stakeholders for further development and potential regulatory changes.