DNB welcomes ban on kickbacks

Several countries have already banned kickbacks, and a number of Norwegian fund distributors have taken action and dropped the practice, despite financial authorities taking a "wait and see" approach.

Håkon Hansen, group executive vice president and head of wealth management at DNB. | Photo: Håkon Mosvold Larsen / NTB

The Netherlands and the UK have already banned kickbacks, and Sweden is currently considering measures to restrict the practice. In Denmark, kickbacks are forbidden when providing discretionary portfolio management.

In Norway, however, the FSA has taken a "wait and see" approach, though the country's largest bank, DNB, would welcome a ban.

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