According to a Bloomberg report published last week, Norway's financial watchdog, Kredittilsynet is recommending that the authorities permit hedge funds to be offered to institutions and wealthy qualified investors.
Commenting on proposed new securities legislation, the finance industry body went on to suggest that such investors should also be permitted to access venture capital funds, derivatives funds, and private equity funds.
The regulator reportedly suggested that fund managers already permitted to operate in Norway should be allowed to extend the range of funds that they offer, and the fund firms in countries with which Norway has regulatory cooperation pacts should also be granted license to offer the wider fund range.
Kredittilsynet went on to propose a minimum investment limit of 500,000 kroner ($81,000), in order to prevent the involvement of unqualified investors in the new sector.
A comprehensive report describing the investment fund sector in most key offshore jurisdictions, with details of the regulatory structure, is available in the Tax News Reports Shop at http://www.tax-news.com/reportshop/
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