Fisher Investments Luxembourg SARL

Revierstredet 3 P.O. Box 1187 Sentrum NO-0107 Oslo Tel. +47 22 93 98 00 post@finanstilsynet.no finanstilsynet.no Enquiries to Hedvig Vold Dir. line. +47 22 93 98 00 Fisher Investments Luxembourg SARL 2a, rue Albert Borschette L-1246 LUXEMBOURG Our reference 25/1829 Your reference 07.10.2025 Final Report - Decision regarding corrective order 1 Introduction Reference is made to the Financial Supervisory Authority of Norway's ("NFSA") preliminary supervisory report regarding advance notification of a possible corrective order dated 28 May 2025 ("the notice"), and to the reply received from Fisher Investments Luxembourg SARL's (hereafter referred to as "Fisher" or the "firm") dated 18 June 2025. The purpose of the supervision was to ensure that the firm has control over the activities of their Norwegian tied agents in accordance with key provisions in the Norwegian Securities Trading Act (verdipapirhandelloven, hereafter referred to as the “NSTA”). The supervision included evaluation of the firm's procedures for recording and storing client communications for tied agents, as well as its remuneration structure for tied agents. 2 Decision regarding corrective order NFSA, pursuant to section 20-3 of the NSTA, may issue corrective orders to investment firms providing investment services in accordance with NSTA section 9-34, if such activities are carried out in infringement of law or regulations. Based on the matters addressed in the notice, cf. section 16 of the Public Administration Act, and in this report, NFSA has concluded to order the firm to implement the following measures: 1.