VPS Monitoring Solution
The service is available for companies that fall within the scope of Section 8-1 of the Securities Trading Act and that are authorised as VPS account operators.
The company is required to record and retain information regarding employees’ proprietary trading for three years. Further more, the company is required to perform assessments on a regular basis of whether any trades have been carried out in breach of the above law, and to report any suspicion of such a breach to the Financial Supervisor Authority of Norway (Finanstilsynet).
VPS Monitoring Solution provides
- A register over employees, departments and companies covered by the service
- Registration of transactions in securities not registered with VPS
- Automatic upload of transactions in securities registered with VPS
- Possibility to extract reports for submission to Finanstilsynet
- Customised reports at business unit level or employee level within defined intervals
- Reporting for employees, employee representatives and their close relatives
The company remains fully responsible for compliance with all requirements, including reporting, pursuant to the provisions of the Securities Trading Act.
Please observe that this service does not replace the personal duty of employees, their representative officers and their close relatives to report transactions in accordance with Sections 8-5 and 8-6 of the Securities Trading Act.