NO-Listed Companies · Oslo Børs

Norway is not an EU member, so the Market Abuse Regulation needed a Norwegian legal act. MAR took effect in Norwegian law on 1 March 2021, incorporated by section 3-1 of the Securities Trading Act (verdipapirhandelloven). The disclosure duty covers issuers on Oslo Børs, Euronext Expand and Euronext Growth, and Finanstilsynet, the Financial Supervisory Authority of Norway, enforces it with administrative fines.

Primary insiders, a word that stayed

MAR speaks of persons discharging managerial responsibilities. Norwegian practice kept the older term primærinnsider, and Finanstilsynet uses it in its own decisions. Oslo Børs keeps a register of primary insiders.

The category reaches further than many readers expect. In a 2026 decision Finanstilsynet treated a deputy for an employee representative on a board as a primary insider, because that person sat in the company's administrative, management or supervisory body.

Still EUR 5,000

In the EU the Listing Act raised the reporting threshold to EUR 20,000 from 4 December 2024. Norwegian rules had not followed as of 2026. Finanstilsynet's guidance sets the duty at EUR 5,000 of transactions in a calendar year, and a 2026 fine decision applied that figure to a sale made on 20 March 2026. Norwegian filings can therefore include deals that would fall below the threshold in Stockholm or Helsinki.

Altinn, NewsWeb and this site

A primary insider notifies the issuer and, through the Altinn portal, Finanstilsynet, immediately and no later than three business days after the trade. The preparatory works treat three days as an absolute limit. The issuer publishes the notice as a stock exchange announcement on Oslo Børs NewsWeb.

We read the NewsWeb category for primary insider trades and its KRT-1500 attachments, so the Norwegian feed is per-trade. We store amounts in euros and show the NOK figure beside them. Styreleder and styremedlem map to board members. The glossary defines the terms used on filing cards.