The Financial Supervisory Authority of Norway supervises banks, insurance companies and other financial institutions to ensure that they comply with the legislation pertaining to financial markets. Securities traders, exchanges, authorised, licensed market places, securities registers, estate agents, electronic money institutions and auditors are also subject to supervision by the Authority. The Authority assesses, for example, management and control arrangements established by an enterprise and reviews company accounts and documents. When the Ministry of Finance considers a matter involving the financial market, the Authority is usually consulted before a decision is taken.
The Financial Supervisory Authority of Norway is required to submit an annual report on its activities to the Ministry of Finance. The Ministry includes this report in its annual report to the Storting on financial markets.
At the beginning of 2012 the The Authority has a staff of 276 employees, and an annual operating budget of approximately NOK 323 million.
