News and current topics from various practice areas and industries

On October 12, 2023, the government appointed Electricity Price Committee presented their report. The expert committee’s mandate was to investigate and discuss models that could con-tribute to more stable, predictable, and competitive electricity prices.

The Financial Supervisory Authority of Norway (Finanstilsynet) has imposed a violation penalty of NOK 2 million on the British management company, Cazadores Investments Limited for breaching the prohibition against uncovered short sales. This is in addition to the confiscation of profits for violations of the prohibition on uncovered short selling with regards to selling shares in connection with the new issuance of Flyr shares last year.

The Norwegian Privacy Appeals Board has upheld the Norwegian Data Protection Authority’s record fine of NOK 65 million (Euro 6.2 million) for the failure to obtain valid consent to share personal data to AdTech companies for marketing purposes. This is the highest GDPR violation fine imposed thus far in Norway. The decision is the result of a complaint from the Norwegian Consumer Council, which has been assisted by Hjort’s GDPR team.

There have been several predictions that the construction industry is on the verge of a wave of bankruptcies. As legal advisors, we encounter entities worried about their contracting parties being on the brink of bankruptcy in ongoing projects. The concern is understandable, due to the current challeng-es of the industry, and the potentially significant consequences of a bankruptcy. This raises the ques-tion of what can be done to effectively protect one’s own interest in the event of a potential bankruptcy.

Hjort assisted in the expansion of UtsiraVIND Consortium

In recent years, there have been several proposed and implemented changes to the Working Environment Act, including stricter regulations on hiring, especially with regards to temporary employment. On June 16th, the government presented proposals for new changes, covering the use of trial periods, the right to written justification statements if part-time or temporary employees request more predictable and secure working conditions, as well as the requirements for written employment contracts and the consequences of deficiencies in these contracts.

Hjort lawyers Erik Gjævenes and Liv Zimmermann assisted Hydropower AS in obtaining approval for the establishment of a new solar power plant that is under construction in Modum municipality.

Both individuals and companies risk severe penalties if they contribute to money laundering, even if the contribution is the result of negligence. By appointing an anti-money laundering officer organisations will reduce their risk, protect its reputation and comply with the law.

We are now entering the most common period for summer vacation and payment of holiday pay. Questions often arise about determining vacation and what payments the employer should take into account when calculating the basis for holiday pay.