The Norwegian competition authority has expressed its views on the proposed reporting obligation for providers of fund and pension services, suggesting that Finansportalen can significantly enhance consumer decision-making and market competition.

According to Kristjan Ryste, acting deputy head of the finance and communication department, easy access to updated and accurate information is crucial for consumers to compare products effectively. A robust comparison service can empower customers to make informed choices, thereby strengthening competition in the market.

Fund and pension products vary in price and content, and the authority believes that if the reporting obligation is implemented, the quality of the information provided must be high. Ryste emphasizes that a good comparison service should not only display prices but also highlight differences in content and quality, enabling consumers to find the best options for their needs.

Furthermore, the competition authority stresses that a comparison service will only enhance competition if it is actively used. Therefore, it is essential for Finansportalen to not only offer quality information but also to be well-known and accessible to consumers. This will lead to more informed choices and a better-functioning market.