MarketGuide2010 (277.22 kB)
General Presentation
VPS ASA was established by law as Norway’s sole CSD and is now a public company established and authorized (licenced) through new legislation.
The new legislation, in force as of January 1, 2003, allows other authorized depositories to perform the same services as VPS. VPS provides a full range of depository services to issuers and investors in the Norwegian securities market.
VPS is a for profit public company that in dematerialized form offers registration of ownership, clearing and settlement services, and corporate actions services for domestic and foreign financial instruments.
Registration is compulsory for all domestic instruments except for limited companies and mutual funds.
VPS is regulated by the Royal Department of Finance regarding which instruments can or must be registered, and is supervised by the Banking, Insurance and Securities Commission. VPS does not have equity, but it does have its own compensation funds, and insurance coverage. Finally, the members, the account operators, guarantee its financial status.
VPS complies with the G30 and ISSA 2000 Recommendations. For details of the G30 Recommendations see the organization´s Web site .
The Norwegian Securities Market Guide 2010
This is VPS
VPS - The Norwegian Central Securities Depository
Act related to Registration of Financial Instruments
Compliance of VPS with the ISSA recommendations
VPS complies with the ISSA recommendations 2000, as far as they are relevant.
Disclosure related to ownership
The information contained in the VPS is confidential, and not subject to disclosure unless exceptions are given in law or contract.
Eligibility - financial instruments
Which types of financial instruments are eligible for registration? Law or other public regulation determines eligibility; which can be compulsory or voluntary for the issuer, dependent on the type of instrument.
Eligibility to become an account operator
Only certain entities may become members, or account operators in VPS.
Legal consequences of registration in VPS
Registration of rights in a VPS-registered security establishes legal protection.
Liability related to registration
Liability related to registration and the finances of VPS : VPS is strictly liable to pay compensation for any direct loss resulting from an error in connection with registration of rights.
Procedures related to registration
How to establish an investor’s account and How to register title and limited rights on an account?