NEW LOOK: Defense Minister Bjørn Arild Gram (Sp) says that the ministry must look at how the ministry handles inside information. Here with Prime Minister Jonas Gahr Støre on a previous occasion. Photo: Naina Helén Jåma / VG
Bjørn Arild Gram (Sp) admits that the matters relating to the billion-dollar contract for the arms manufacturer Nammo should have been handled as inside information. His party colleague Ola Borten Moe had to resign after buying shares in Nammo’s ownership company.
Published:
Less than 40 minutes ago
Updated just now
The Minister of Defense writes this in a letter to the Storting’s Control and Constitution Committee.
He has previously informed the committee that the cases related to weapons production at Nammo was not handled as insider affairs.
Now, in a recent review, the ministry concludes that it was probably a mistake.
– In light of what has come to light recently, including through the media, it was natural to initiate such a review to ensure that the ministry has satisfactory practice of the insider regulations. the insider regulations. When you sit on confidential information that the stock market does not otherwise have, and which is suitable to influence the price. It is forbidden to trade shares on the basis of inside information. The review has shown that parts of the case complex should probably have been handled as inside information, writes Gram.
If the ministry had treated this as an insider matter, they would have made a list of people who were aware of the decision. These would then have the status of insiders. It is forbidden for those who trade on such a list to trade in the relevant share.
HAD TO RESIGN: Ola Borten Moe had to resign as Minister of Higher Education and Research this summer. Photo: Naina Helén Jåma / VG
Breached the competency regulations
Ola Borten Moe (Sp) resigned as minister earlier this summer after a E24 case which showed that the then deputy leader of the Center Party bought shares for NOK 415,000 in Kongsberg Gruppen.
It happened a week before the government announced a billion dollar contract to Nammo, a company partly owned by Kongsberg Gruppen.
Borten Moe admitted that he had broken the rules of competence.
Gram said earlier this autumn that the cases of arms production at Nammo were not handled as insider cases, because the acquisition was made from a non-listed company. According to him, the question of whether the insider regulations should be used had to be decided by a concrete assessment of whether the acquisitions could affect the share price of Kongsberg Gruppen via their indirect ownership of Nammo.
THE TRØNDERS: Ola Borten Moe, Ingvild Kjerkol and Bjørn Arild Gram proudly posed for a photo when the Støre government was appointed in October 2021. They all represent Trøndelag. Photo: Tore Kristiansen / VG
New routines
The Ministry of Defense is now going through its own routines.
– There is ongoing work in FD to look at practices for handling inside information, says Gram.
Borten Moe is under investigation by Økokrim for possible breaches of the insider regulations. He has denied that he has broken the rules on insider trading.
Published:
Published: 18.09.23 at 16:38
Updated: 18.09.23 at 17:14
Copy linkCopy linkShare on FacebookShare on FacebookShare by emailShare by email
2023-09-18 14:38:29
#Admits #mistakes #Nammo #decision #information
