NHO is the most powerful business organization in Norway, and often gets an insight into and becomes involved in discussions about politics that can have a lot to say for the business world. The governing authorities consulted with NHO before they sprinkled billions of kroner to companies during the pandemic, for example. Until now, the employees have not been required to report on what kind of shares they own, buy and sell. Since last autumn, management has been working with the employees’ associations on the new guidelines. Now there are only details that state that before a new registration system is rolled out: Reporting: Shares, purchases and sales must be reported from the first kroner in a digital system. No binding: There will be no binding period, or freeze, on trading shares. This means that you can buy and sell as you wish. Duty of care: Employees must not own or trade shares that could undermine trust in the employee or NHO. On Monday this week, the board of NHO was briefed on the new guidelines. Nina Kraugerud Ertzaas is communications director at NHO. Photo: Moment Studio – After the Sindre Finnes case, it was natural and right for us to review our internal guidelines, says Nina Kraugerud Ertzaas, area director at NHO. Tightening the rules Last autumn, E24 revealed that the husband of Høgre manager Erna Solberg traded large amounts of shares during the years she was prime minister. Finnes has worked as a trade manager in Norsk Industri, one of NHO’s 18 national associations, since 1998. Among the companies Finnes traded shares in, several of them were member companies in Norsk Industri. The association carried out a full review of share trading, and afterwards tightened the rules for how the employees could trade in shares. In Norsk Industri, employees are no longer allowed to trade individual shares or financial instruments in listed member companies in Norsk Industri. It is the 260 employees at the head office of NHO to whom the new rules will apply, not to the 18 national associations. – It is up to each individual national association how they wish to solve this, explains Ertzaas. – Trust in our competence Ertzaas says it is important that NHO tightens up, as the organization “lives on the trust of members, governing bodies and partners”. – NHO is of course in favor of private ownership and shares, but at the same time must take care of trust in our competence. Ertzaas explains that they are somewhat in dialogue with two actors who will deliver the digital registration system. – Is the HR department supposed to check and monitor the register? – A very few employees connected to HR will have access to this information, says Ertzaas. – Good balance Management has negotiated with the two unions in NHO, Negotia and Husforeininga. Both associations say there are some details before the new guidelines are clearly defined. Helge Rege Gårdsvoll works as an information architect at NHO, and is deputy manager of the House Association for the employees of the organisation. Photo: NHO – The proposal we are working with has a good balance between employees’ freedom of action and control over their own private finances on the one hand, and NHO’s need for clearer guidelines on the other, says deputy head of the Housing Association, Helge Rege Gårdsvoll. The guidelines will be evaluated in 2025. Hello! Do you have input or tips on this matter, or other matters? Published 14.06.2024, at 20.29
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NHO employees are required to register shares – news Norway – Overview of news from different parts of the country
