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Changes to the Oslo Børs Code of Practice for IR

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Changes to the Oslo Børs Code of Practice for IR


Oslo Børs has made changes to the Oslo Børs Code of Practice for IR on selected areas. It has been decided to adjust the Code slightly in relation to financial reporting.

Developments in market practice following the termination in 2017 of the requirement to produce quarterly reports, has been emphasized in reaching this decision. In addition, further guidance in relation to corporate social responsibility, contacts with analysts and equity research have been provided. The previous version of the Code was issued on 1 March 2017.

The following provides a short summary of the changes made to the Code:

  • The recommendation to produce interim reports for the first, third and, where appropriate, fourth quarters in accordance with IAS 34 has been changed. As an alternative, companies may publish a more limited interim report in accordance with specified content requirements as set out in Section 2.1 fourth and fifth paragraphs.
  • The wording in Section 3.1 regarding corporate social responsibility has been adjusted, and it now recommends that companies follow the Oslo Børs Guidance on the Reporting of Corporate Responsibility.
  • In Section 3.2 of the Code regarding analyst coverage and consensus estimates, a new recommendation has been included whereby research produced by analysts that is paid for by the company for disclosure to external parties should at simultaneously the latest be made available on the company’s website at the latest at the same time as it is made available to the external parties. It should also be stated clearly and in a readily accessible way that the research has been paid for by the company.
  • In Section 3.6 of the Code regarding presentations given in connection with financial reporting, capital markets days etc., the Code now says that such presentations may be made available as audiocasts as an alternative to webcasts.
  • A new Section 4.2 regarding contact with analysts and equity research has been included, that provides general guidance on contact with such analysts. This guidance replaces Stock Exchange Circular No. 15/1999 regarding “Listed companies – contacts with financial analysts”.

Read more about the Oslo Børs Code of Practice for IR and download the document

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