Enquiries by debt enforcement officers
In principle, VPS is not the appropriate contact for parties that have the right of access to account information, and such parties should normally contact the account operator for the investor in question. However, it is not always the case that parties making this type of enquiry know which account operator the investor uses, and they therefore need to contact VPS for this information. When VPS receives such an enquiry, it assumes that the party making the enquiry does not know which account operator(s) the investor uses, and that the party therefore needs this information. If VPS has already recorded information about the investor in question, it will first establish when the enquiry was made.
Once VPS provides information on the relevant account operator(s), the party with the right of access must then address its enquiry in respect of the investor’s holdings, valuation, etc. to the account operator(s) in question. The procedure VPS applies for handling such enquiries, the duty of confidentiality, rights to access account information and the fee charged for our services are regulated by Section 6-5 and Chapter 8 of the Norwegian Securities Register Act.
It should be noted that VPS does not itself carry out any registrations on VPS accounts. A party that needs to register rights or restrictions on an investor’s account or accounts (right to operate the account or action to block the account) must arrange this through the relevant account operator for the account(s) in question. Where a party with the right of access to account information has information on the account operator(s) used by the investor in question, and is confident that this information is correct, there is no need to make enquiries with VPS, and the party should instead contact the relevant account operator(s) directly.