Watchdog slams fund companies for MiFID II violations

A survey by Norway's FSA shows that many investment firms are not complying with new regulations.

Photo: Morten Langkilde/pxml Longyearbyen 11.jpg

The Norwegian FSA has conducted a survey of fund companies operating in Norway to determine whether or not they are compliant with the new rules in relation to commissions that came into affect more than two years ago as part of the MiFID II regulations.

The survey shows that 43 of 124 Norwegian investment firms, or local branches of foreign providers of investment services, have received remuneration from sources other than the client.

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