Market Specifications – Investment Funds – Norway
Signed agreement between CBL (the nominee) and the fund management company (the fund manager) is required prior to the subscription of the investment fund units managed by the fund manager concerned. A list of the Norwegian fund managers where CBL has existing nominee agreements or where nominee agreements are not required by the Norwegian fund manager can be found in the attachment section, which will be visible if logged in as a Premium User.
Customers are advised that request for investment funds managed by fund managers not found in the list would incur a lead time for establishing the nominee agreements. Depending on various factors, it may take two to six months to establish a new nominee agreement with a fund manager.
Some fund managers might request for further information of Customers if Customers are also distributors of the fund. If Customers are subscribing into a fund for the first time, Customers are also obliged to inform CBL.
Transfer of existing fund units from a nominee to a directly registered unitholder on the register involves a deregistration and registration process and vice versa. Customers would need to process such transfer as a redemption followed by a subsequent subscription.
Customers are advised that CBL does not facilitate the provision and maintenance of all historical transactional data that would be required for tax reporting purposes. Therefore, should the customer proceed with such a transaction, any costs incurred would be borne by the customer.
The information contained in the Market Specifications is based on the market practice that CBL was made aware of from different sources and the executed nominee agreements. This is not intended to be a comprehensive guide of all local market practices, and CBL disclaims any responsibility as to the accuracy and completeness of the information. In the case of discrepancy between the information provided by CBL and the local laws and regulations, the latter shall prevail. The Market Specifications do not constitute legal advice and customers should seek advice from independent professional counsel.
Customers are responsible for ensuring compliance with the Market Specifications, where applicable, and agree to indemnify and hold harmless, CBL, for any loss, expense, liability, damage or claims, whether direct or indirect, against or incurred by CBL arising out of or resulting from such non-compliance.