Finance Norway (FNO) was established 1 January 2010 by the Norwegian Saving Bank Association and the Norwegian Financial Services Association.
Almost all the professional and administrative staff of the two associations were transferred to the new organization. FNO has a highly competent staff of almost 100 persons, with expertise in all fields of the financial sector, and will for all practical purposes represent the entire financial sector in Norway.
The reason for establishing FNO is to strengthen the financial sector in Norway. The regulatory framework for financial activities is growing ever more complex and extensive. This requires a high level of expertise from the trade organisations and a professional and dedicated staff.
FNO represents some 180 financial institutions and financial groups that are active in the Norwegian market. The institutions operate within different sectors of financial activity like savings banks, life insurance companies and investment firms for example.
FNO’s role is to safeguard the interests of the financial services industry in Norway in relation to the authorities, other organisations, the media and the general public, as well as in international forums.
Part of a larger European Community
The European financial services industry is undergoing profound and rapid changes, both in the market place and in the regulatory framework. As a result of the EEA Agreement, changes in EU legislation will have exactly the same consequences for Norwegian financial institutions as for institutions located within the EU.
To safeguard the interests of the Norwegian financial sector, FNO participates in the wider European community. FNO is a member with the European Savings Banks Group (ESBG), the European Banking Federation (EBF) and the European Insurance and Reinsurance Federation (CEA).