Country Manual Private Banking
Norway out of EEA
out of Bank’s Country of Establishment (Def, RS, BT & RT)
| Source of changes | Answers |
|---|---|
| Law / Regulation | Yes |
| New Position of the Authorities | No |
| Evolution of Expert’s Interpretation | Yes |
Regulatory Template, Regulatory Summary and Behaviour Template
Material changes
No fundamental modifications of the general good provisions and mandatory consumer protection rules framework have been indicated since the last update. Some updates and clarifications concern:
Marketing materials must not emphasize that credit is easily available, including that the credit may be used or application granted quickly, that the application process is simple or that the threshold for granting credit is low. The word emphasize entails that such information must not be given more prominence than the disclosure of the annual percentage rate.
Marketing must be clearly recognisable as such and claims in marketing relating to factual circumstances must be documented.
Customers have the right to op out of electronic communication.
Credit may not be marketed by way of door to door sales.
Where bonuses or other additional advantages are marketed in conjunction with credit (airline miles, etc.), these advantages cannot be given a more prominent place in the marketing than the information required by law.
Non-material changes
Legal references have been updated and minor non-material streamlining has been implemented throughout the documents.
For more information, please contact us: info@brpsa.com
Geneva, November 17th, 2025