Distribution of company announcements to the professional platforms, finance portals and syndication of important corporate news to a wide variety of news aggregators and financial news systems.
Acta Holding ASA (OSL:ACTA) The Financial Supervisory Authority of Norway has since the 18th of September conducted an ordinary inspection of the operations in Acta Kapitalforvaltning ASA. Yesterday evening the FSA informed the management of the company that Acta will keep its license to provide advisory services.
Both the management and the employees in Acta Kapitalforvaltning greatly appreciate that the FSA contributed to a prompt clarification with respect to the ordinary inspection conducted in Acta the last weeks.
- We are very pleased - but not surprised - by the main conclusion of this inspection. Acta has dedicated a great deal of resourses to implement all the new requirements following the new situation for advisory services within the financial sector in Europe, says CEO Simen Mørdre in Acta.
Even if some participants in the industry have claimed that the regulatory conditions have not changed significantly, or that they have already implemented the necessary changes, the fact is that the industry has had to implement fundamental changes in the course of the last year. The strain of implementing these changes in a very turbulent market has been far greater that it would have been under normal circumstances. - Unfortunately the FSA was exposed to a large and unreasonable political pressure as they were conducting the inspection of Acta. For a period of time we were worried that this pressure could weaken the legal competence of the FSA. This did not materialize due to the FSA's professionalism and focus on facts. Those working in the Norwegian financial industry should be content with this, says Mørdre.
- In terms of the critique and possible instructions we will receive from the FSA, we will of course implement these. We now look forward to focus on the customers and the normal operations and to implement any changes the FSA will ask us to implement. The current market situation provides financial advisors with several challenges, but also great opportunities, says Mørdre.
Contact details: Simen Mørdre, Chief Executive Officer - tel. +47 908 68 562 Robert Aakre, Managing Director in Acta Kapitalforvaltning ASA - tel. +47 901 46 451
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
