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Watchdog slaps NRP Asset Management

The asset manager failed to update all of its routines after new money laundering legislation was implemented in 2018.

Photo: Pexels.com / Pixabay

After inspections in November 2019 and January 2020, the Norwegian Financial Supervisory Authority pointed out that NRP Asset Management's list of instructions was not updated in regards to the new money laundering legislation, which was implemented in 2018.

The FSA further criticized the fact that the business did not thoroughly "review and update the company's list of instructions for the new money laundering legislation until around a year after the law was implemented," which the FSA report states.

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