The Finance Industry’s Authorisation schemes (FinAut)

FinAut is a subsidiary company of Finance Norway and the Norwegian Fund and Asset Management Association established in 2009.
FinAut has more than 10 000 authorized financial, insurance and debt collection advisors.
As a self-regulatory body, FinAut creates value for customers, companies and society.
To assure customer protection, the industry is set to deliver the same quality regardless of distribution channels and technology.

The path to authorisation: How to build knowledge and competence

The authorisation of a financial advisor includes a knowledge exam, an ethics exam, and a practical exam. The exams are based on competence requirements defined by FinAut and its members.

Employers can choose their own curriculum, training method and suppliers for competence building. To maintain the authorisation, the advisor must follow the CPD Program and act within the Code of Good Practice.

Illustrasjon over stegene i en autorisasjon.

Standards of ethics

The financial industry meets key needs in society. It is the link between all of the economic actors when it comes to loans and credit, managing savings, making payments, offloading risk and safeguarding lives and property.

High levels of expertise are essential for those who work in the industry.

Standards of ethics in the distribution system are particularly important for financial institutions to fulfill their role, be taken seriously and maintain a good reputation.

The reputation of the individual financial institution depends largely on high-quality customer-facing work. An understanding of ethics is important, but not sufficient.

For the industry to fulfill its role in society and business in a good way and achieve the necessary credibility, it is important that employees are able to:

Act professionally and trustworthy
Identify and reflect on ethical dilemmas
Raise and discuss ethical dilemmas with colleagues or managers
Justify their decisions in an unbiased manner

Code of Good Practice

The rules apply to all of FinAut’s members in connection with advice, information, guidance and sales in the consumer market. The rules apply to both personal service and to digital processes. The business shall ensure that the rules are complied with.

Management in particular are responsible for avoiding routines and systems, including rewards systems, that are not compatible with the rules. Advice is defined as a personal recommendation to a customer.

Code of Good Practice

Gamification as a learning method: The Ethics Boost

FinAut has collaborated with the gaming company Attensi to develop the Ethics Boost, a gamification with ethics as content.

Attensi’s gamified training solutions are designed to bridge the knowledge gap, encourage repetition and make learning fun again.

FinAut members use the Ethics Boost as a tool for building ethics competence within their companies, and especially as a preparing tool for the authorised candidates.

The Ethic Boost is also available in English. This gives our member companies with English-speaking employees a better opportunity to include several participants in ethics training.

Language options:

New players can choose between Norwegian and English when registering.
Players who are already registered can change the language to English by going to "Settings" in the game and selecting their preferred language.

The English-language version is an important contribution to making The Ethic Boost more accessible and relevant for the entire organisation, regardless of language background.

Password for login is: Etikkboosten.