2024 Regulatory Fee Updates: Navigating Changes in Nordic Markets

19th January 2024

Navigating 2024: Important Updates on Regulator Fees

Staying abreast of regulatory changes is crucial in the ever-evolving landscape of financial markets. As we step into 2024, several significant updates in regulator fees across Nordic countries demand attention for financial institutions and market participants.

Norwegian Regulatory Fee Alterations

The Norwegian regulator has implemented new fee structures effective from the start of 2024, impacting both UCITS and AIFs (Alternative Investment Funds). These modifications encompass various aspects:

UCITS:

  • New Registrations: A one-time registration fee of NOK 5,000 will be levied for new UCITS after the registration notification.
  • Non-Norwegian UCITS ManCos: Entities marketing UCITS as of December 31, 2023, will encounter an annual fee of up to NOK 10,000 in May 2024.
  • [Further details available here.]

AIFs:

  • Art. 32 AIFs: A one-time registration fee of NOK 5,000 post-notification is applicable.
  • Art. 42 AIFs: Encounter a one-time processing fee of NOK 15,000.
  • Art. 36 AIFs: Face a one-time processing fee of NOK 8,000.
  • Marketing to Non-Professional Investors: Applications for AIF marketing, managed by non-Norwegian AIFMs, will incur a one-time processing fee of NOK 25,000.
  • Foreign Non-UCITS Securities Fund Marketing: A one-time processing fee of NOK 25,000 applies, accompanied by annual fees.
  • Payment for one-time processing fees will be handled via email by The Norwegian Agency for Public and Financial Management (DFØ) after application receipt and bill payment.

Additionally, non-Norwegian AIFMs marketing AIFs as of December 31, 2023, may face an annual fee of up to NOK 10,000 from The Norwegian National Collection Agency (SI) in May 2024.

Updates from Danish and Finnish Regulators

Denmark:

Recent updates in the index for 2023 regulatory fees, including those for cross-border marketing of UCITS and AIFs, have been published.

Finland:

Effective January 1, 2024, Finnish regulators have introduced new processing fees, encompassing annual fees for cross-border marketing of UCITS and AIFs.
These alterations signify potential impacts on operations and engagements within these jurisdictions.

How Zeidler can assist:

We prioritise staying informed and ensuring compliance with these changes to best serve our clients and maintain regulatory adherence. For any inquiries or detailed information regarding these updates, please don’t hesitate to reach out to our fund governance team.

Author

Jasminka Makovec