It was announced in a press release that was sent out from Økokrim now at 16.15. They write that there is no reasonable reason to investigate whether there is a criminal relationship. The foreign minister admitted last week that she had made a mistake and failed to fulfill her duties as a minister when her husband, Ola Petter Flem, had bought and sold shares. See the entire timeline at the bottom of the case. Cases of a different nature In the press release, Økokrim writes that questions have been raised in the media about what separates this case from the investigation Økokrim has decided to do on the occasion of share trades made by former minister Ola Borten Moe. – The proximity to actual information that is relevant to investigate compared to actually carried out stock trades is different in these two cases, says assistant head of Økokrim, Inge Svae-Grotli. Borten Moe himself carried out stock trades as a private person. Huitfeldt, on the other hand, based on the actual circumstances, has not acted as a private person or known what kind of company her husband has acted in, the press release states. – Even though the case relates to two ministers in the same government, the circumstances in the two cases, however, of a different nature, and must be kept separate from each other, says Svae-Grotli. – Does not affect further proceedings, Prosecutor in the Control and Constitution Committee Grunde Almeland says in a comment to news. – I note Økokrim’s assessment. In any case, it is not for the control committee to assess any criminal circumstances, it is the prosecution which must assess independently. For the control committee, this does not affect our further proceedings anyway, he says. Furthermore, Almeland states. – The investigation into Huitfeldt’s breach of ethics continues. We will meet on Thursday after the election to consider any new questions to be put to the government. For the Liberal Party, it is particularly relevant to ask for an explanation from the Minister for Foreign Affairs about her breach of the rules. Trading on Oslo Børs In the Huitfeldt case, the man traded shares through an investment company on Oslo Børs, including in the arms manufacturer Kongsberg Gruppen and salmon company. At the same time, the government made decisions that could affect the company’s share price. She said her husband had deliberately not informed her to avoid insider trading. He thought it was within the regulations that apply to members of the government. But this lack of information meant that Huitfeldt had no overview, and could not have his own competence assessed. But she denies giving important information to her husband. On advice from the Ministry of Foreign Affairs, Flem sold his shares straight after the summer. Change the rules Prime Minister Jonas Gahr Støre has said on several occasions that he trusts the explanation given by the Minister for Foreign Affairs, and has confidence in her. But he also underlines that she has breached her duties as a minister when she did not obtain an overview of the stock transactions, and had her competence assessed. Facts about the integrity cases in the government Education Minister Tonje Brenna (Ap) admitted on 20 June to having broken the government’s integrity rules by appointing a friend to a board position in the Wergeland Centre, a foundation which is largely financed by the Ministry of Education. Culture and Equality Minister Anette Trettebergstuen (Ap) resigned from Støre’s government on 23 June after admitting to having broken the rules of competence by appointing friends to important positions. Minister for Research and Higher Education Ola Borten Moe (Sp) admitted on 21 July to having broken the government’s integrity rules by purchasing shares in the arms and technology group Kongsberg Gruppen. He resigned both as a minister and SP deputy leader. Foreign Minister Anniken Huitfeldt’s (Ap) husband has bought and sold shares, including in the arms manufacturer Kongsberg Gruppen, while she has been minister. Huitfeldt has not fulfilled her duty according to the rules of competence to obtain information about her husband’s financial activities, according to the legal department in the Ministry of Justice. (Sources: NTB/news) Huitfeldt’s case comes after a summer in which several ministers have been involved in competency cases. The Prime Minister’s office announced last week that, as a result, they would update the guidelines that apply to ministers and their families. And this week the announcement came that the investments of all the politicians in the government apparatus will be surveyed, and that no one will be allowed to sell or buy shares before the state budget is presented. Facts about new share rules The handbook for political management was updated on Wednesday 30 August: *New point 4.4: “Rules and routines regarding the processing of inside information”, is a concise description of what these rules apply to, as well as the most important prohibitions and orders that follow from the regulations . *New point 4.5: “Guidelines for ownership, purchase and sale of shares and other financial instruments”, has been rewritten and significantly expanded. The politician can 1) sell his shares/financial instruments, 2) consent to a freezing of the shares/financial instruments or 3) entrust the management to an independent third party (manager). *In addition, this point has been expanded and clarified: In relation to a spouse or other persons with whom one lives in a marriage-like relationship, the person holding political office will have a duty to acquire actual knowledge of the person’s ownership interests, which could possibly lead to disqualification for the politician. (Source: Prime Minister’s office) Timeline in the Huitfeldt caseAnniken Huitfeldt’s husband Ola Petter Flem has traded a number of shares during her term as minister. She has admitted that she should have had an overview, and that she has been incompetent in several cases. The week after Anniken Huitfeldt becomes foreign minister, Foreign Affairs Councilor Torgeir Larsen, who is the Ministry of Foreign Affairs’ top civil servant, asks about her husband Ola Flem’s financial interests. Huitfeldt says, after a conversation with her husband, that he has most of the assets in his own company in mutual funds and some in individual shares. During the summer it became known that three ministers had broken the regulations for integrity. Anette Trettebergstuen resigns as Minister of Culture and Equality, and Ola Borten Moe resigns as Minister of Research and Higher Education after breaking the rules. Huitfeldt asks her husband about his share purchase on Oslo Børs. According to her, it is then that she understands the extent of her husband’s share purchase. According to Dagbladet/Børsen, the newspaper asked the foreign minister and several other ministers for access to potential investments as early as March last year. Anniken Huitfeldt alerts the Minister of Foreign Affairs and asks for a legal assessment of close relatives’ trading in securities, she writes in an e-mail to news . The Ministry of Foreign Affairs starts this work on the same day. “On my question whether I should ask to see my husband’s stock trader or ask him to sell his stock holdings, I am advised to wait,” she writes in the e-mail. According to the government’s timeline, the foreign minister notifies the foreign minister. The department advises the foreign minister to ask her husband to freeze all activity in the stock market. “I follow up on that the same day. At the same time, the civil service continues to work to clarify questions related to regulations and competence.” writes Huitfeldt in an e-mail to news. Nettavisen E24 asks about which companies and shares the husband has bought and sold in recent years. The Foreign Minister is advised to obtain a complete overview of her husband’s transactions, she writes in an e-mail to news. The Minister for Foreign Affairs receives a preliminary list of her husband’s transactions. The Minister for Foreign Affairs receives detailed information about her husband’s stock transactions in the period from 1 October 2021 to 31 July 2023. The online newspaper E24 receives a reply to the e-mail from 14 August. “Two weeks ago, I asked the ministry for an assessment of the activity in my husband’s company, and am awaiting the ministry’s comprehensive assessment. The companies/ownership referred to in the questions are part of this assessment.” it says in the reply, according to VG. Huitfeldt submits a complete overview to the Foreign Minister of all transactions as well as the companies he held shares in at the time, according to the government’s timeline. In VG’s first case, it emerged that on the morning of 11 August, Huitfeldt brought a list of all transactions that her husband had made, and gave it to the Foreign Minister. In VG’s case from 4 September, however, it appears that the overview was given on 17 August: “The correct thing is that she brought a preliminary overview to the Ministry of Foreign Affairs the morning after she received this preliminary overview on 16 August. So she has this preliminary overview the following morning.” On advice from the Ministry of Foreign Affairs, the Minister for Foreign Affairs asks the man to sell all his shares. The husband sells all his shares. The Ministry of Foreign Affairs sends a letter to the legal department and asks for answers to three questions, including whether there is reason to believe that the Minister for Foreign Affairs has been disqualified because of the husband’s shares in one or more cases such as the ministry, the government and/or The King in the Council of Ministers has considered. The legal department replies to the Ministry of Foreign Affairs that there is reason to believe that the Minister for Foreign Affairs has been incompetent in several cases. Therefore, the Minister for Foreign Affairs assumes that she has been incompetent in several cases while she has been Minister for Foreign Affairs. Huitfeldt tells VG that she has not fulfilled her duty as a minister, and that she has made a mistake. The case will be the fourth competence case in the Støre government. In Dagnsytt 18 the same evening, Huitfeldt says that the man has told her that the share purchases are “largely” based on a technical model portfolio. The Støre government is tightening up and clarifying guidelines on share trading. If the politicians have shares when they take office, they can choose between selling them, “freezing” the ownership or having someone else manage the shares, writes the government. The husband tells VG that he regrets that he traded arms shares. He also says that the foreign minister should have warned him against buying arms shares. The foreign minister has said several times that the husband mostly traded shares on the basis of the model portfolio from the research agency Investtech. However, Dagens Næringsliv reveals that in more than half of the share transactions the husband acted independently of the portfolio. The Prime Minister’s office informs news that they now refuse ministers, state secretaries and political advisers to sell any shares before budget day on 6 October.
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