The Priips Law and Exchange Traded Funds (ETFs)
From October 1, 2024, Norwegians will no longer be able to purchase funds listed on exchanges in the USA and Canada. The reason is an EU regulation adopted as law in Norway.
The so-called PRIIPS law stipulates that financial products cannot be sold unless the provider simultaneously provides key information about the product in a "Key Information Document" (KID). The PRIIPS law regulates what information you as an investor should have about the product and how this information should be provided.
Investors will be helped to make an informed choice
The PRIIPS Law has been adopted to help you as a non-professional investor make good choices. You will receive good and understandable information about the product’s properties, risk, return and loss opportunities, as well as costs. The product supplier is required to set up the information. It must be given in a three-page document according to certain rules, the document is called KID. If a provider does not offer the KID in the official language of the country where the product is sold, they are not allowed to sell there. We who distribute and sell the products are responsible for ensuring that you as an investor have access to the KID.
What is the PRIIPS Law?
PRIIPS is an abbreviation for “Packaged retail, insurance and investment products”. The PRIIPs regulations are essentially an EU regulation adopted as law in Norway.
The PRIIPs law requires producers and providers of investment products to give non-professional investors key information (KID) about products before investing.
Some North American ETFs will have KID
US providers of ETFs are not required to offer KID.
From October 1, you will no longer be able to purchase exchange-traded funds (ETFs) listed on exchanges in the USA and Canada. However, you can keep any ETFs you already own on the stock exchange in these countries, and you can also sell them. The ban applies to new purchases.
However, many American and Canadian ETFs are also listed on European stock exchanges. US funds offered in Europe and have Norwegian KID available can still be bought by our customers.
In DNB’s equity trading service, we have several thousand ETFs, which meet the KID requirement.
Questions and answers about ETFs
Our prices and terms and conditions
Securities trading is subject to strict rules. We’ve gathered all our terms and conditions onto one page. Here you will find our obligations as an investment firm. In addition, you’ll find information on what you, as a customer, are obliged to familiarise yourself with, and what our services cost.