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– This is the answer to what I, as Minister of Finance, have not been able to give.
What Siv Jensen is talking about is her own investment of NOK 750,000 and her commitment to a solution tested in collaboration between her company Future Xchange and the Brønnøysund registries.
Former Finance Minister Siv Jensen points to examples of cases showing the need for searchable information about who owns Norway. (Photo: Aleksander Nordahl)The problem today, for investors, companies, authorities and the press alike, is that it is impossible to search for ownership of unlisted and listed shares in real time. And a number of stock scandals for Erna Solberg, Anniken Huitfeldt and Ola Borten Moe have shown the need for transparency.
Stone Age level
According to Siv Jensen, the new capability will allow the conservative leader to check whether Sindre Finnes was really out of the day trading business.
– It’s very possible, yes. It’s truly incredible that we’re clinging to Stone Age technology in an area that is so important to society, says Jensen.
Siv Jensen describes herself as an industry weirdo but is having fun after leaving politics. (Photo: Aleksander Nordahl)In 2014, the Storting asked the government to come up with a solution. Nothing has happened since then, even under her watch as Finance Minister for many years. The only requirement today is that the share register must be publicly available at the company’s head office.
But the system that Future
– This could save businesses and authorities billions of dollars and ensure greater trust between companies and investors, better control by authorities and greater transparency for the press, says Jensen.
A small button
The former Minister of Finance emphasizes that the company she has invested in will not make a profit from the project.
The article continues below the advertisement– I’m just a weirdo at this, but it’s a lot of fun.
All subject systems, such as Visma and Future Xchange, are given equal opportunities. The latter was only part of the pilot project. Since then, everyone has been invited in. But that requires the government to change the regulations.
This requires SV’s spokesperson for fiscal policy, Kari Elisabeth Kaski, to make progress. After the FRP’s finance minister disappeared from politics, Kaski and Jensen are now completely on the same page on this issue.
The article continues below the advertisement. Kari Elisabeth Kaski, SV spokesperson for fiscal policy, asks Finance Minister Trygve Slagsvold Vedum to accelerate work on a national publishing solution for all stock transactions. (Photo: Gabriel Aas Skålevik)– Now the government has a clear opportunity to remedy the crisis of confidence that arose after the stock scandals. In light of these issues, these changes will create a much better and simpler system for oversight, Kaski says.
In concrete terms, she believes that the government must solve this:
Require that all Norwegian limited liability companies maintain the shareholder book in an approved professional system linked to a national publishing solution, e.g. The Brønnøysund Registers. The Shares Act should be amended so that the transparency rules surrounding ownership are the same, regardless of whether ownership is recorded in a share register or in a central securities depository (VPS). The government must coordinate transparency rules in the Public Limited Companies Act and the Securities Register Act to ensure true transparency around ownership of VPS-registered companies. Updated ownership data must be available digitally at least once a day, and at a price that does not undermine the right of access. Finally, the central securities depository or the administrators can also be connected to the issuing solution. The article continues below the advertisementShow all positions
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Siv Jensen has made her first investment – in a solution that she herself could not find as Minister of Finance
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