Oslo: Employees from two of Norway’s most important government watchdogs employed to cover the oil sector have been criticised for owning shares in companies they are set meant to oversee.
In the two supervisory organisations for the petroleum sector, the Norwegian Petroleum Safety Authority (PSA) and the the Norwegian Petroleum Directorate (NPD), the principle is that employees may own and trade in securities although it is not recommended to do so.
Calls are growing for the petroleum supervisory bodies to adopt the same rules as their counteparts overseeing the financial and telecommunications markets, who are barred from owning shares in companies they supervise.
