You are here: About us / Newsletter / 2010 / No. 1/2010
Consultation on possible changes to the Oslo Børs requirements on board independence
Oslo Børs has recently carried out a consultation process on possible changes to its requirements in respect of the composition of the board of directors for companies seeking admission to listing on Oslo Børs and Oslo Axess. The background for the consultation is found in the major changes that have taken place in this area internationally, which have made it necessary to review the requirements in the Oslo Børs and Oslo Axess rules on the board composition of listed companies. The deadline for responses was 4 June, and Oslo Børs received a number of consultation submissions.
Oslo Børs presented two possible alternatives to replace the current requirements in the Listing Rules for the composition of the board:
- Self-regulation applying the same ”comply or explain” reporting that applies to corporate governance. The current Oslo Børs requirements on board independence correspond with the requirements of the Norwegian Code of Practice for Corporate Governance.
- Restrict the Oslo Børs and Oslo Axess Listing Rules to specific minimum requirements for board independence that are less comprehensive than the current requirements.
Oslo Børs is now working on summarising the responses received from the consultation, and expects to announce further information on the status of this project in early autumn 2010.
