meta_id 3286509

On June 30, 2026, Norway's Ministry of Finance (Finansdepartementet) amended the Regulation on Financial Undertakings and Financial Groups (Finansforetaksforskriften) to expand information-sharing provisions for crime prevention purposes. The amendment, which takes effect on July 1, 2026, modifies the Financial Undertakings and Financial Groups Act (Finansforetaksloven) by introducing new provisions in Part VII of Chapter 16 regarding confidentiality and personal data processing. The amendment expands the scope of information that financial undertakings may disclose under the Financial Undertakings and Financial Groups Act. Financial undertakings may now share information obtained through customer due diligence measures conducted under the Money Laundering Act (Hvitvaskingsloven). Additionally, the regulation permits financial undertakings to disclose information to electronic communications network and service providers registered under Norway's Electronic Communications Act (Ekomloven), foreign payment service providers with equivalent authorisations in other European Union or European Economic Area states, and three Norwegian public authorities: the Norwegian Tax Administration (Skatteetaten), the Norwegian Labour and Welfare Administration (Arbeids- og velferdsetaten), and the Brønnøysund Register Centre (Brønnøysundregistrene). The amendment also establishes a framework for information-sharing arrangements, permitting financial undertakings to process information through collaborative schemes that collect, process, compile, analyse, and store data. These arrangements remain subject to existing provisions of the Financial Undertakings and Financial Groups Act regarding confidentiality and information disclosure requirements. The regulation applies to all financial undertakings operating in Norway and becomes effective on July 1, 2026.