Viability of Norway model for the UK debated

Author: Lizzie Meager | Published: 17 Nov 2016
EEA membership has worked for Norway's financial services sector
The director general of Norway’s financial services regulator has said its relationship with the EU, as a member of the European Economic Area (EEA) but not an EU member state, has worked well for the sector.

The Norway model, as it has become known, was cited regularly during the campaign for Britain to leave the EU as a so-called soft option which would help maintain access to the single market.

The Scandinavian country is involved in the technical preparations of implementing standards with European supervisory authorities. Head of the Finanstilsynet Morten Baltzersen said at the Financial Times’ Banking Summit in London on November 16 that its authorities have been given a voice – but not a vote.