Affiliations costs

For insurance, banking, finance and investment funds

(A separate means of funding has been adopted for debt collection agencies see below). 

The costs for affiliation and use of the complaints resolution arrangement is calculated according to the following:

• The settlement is due in advance
• Costs for the use of complaints resolution arrangement: Cases that have been filed with FinKN and are concluded at the complaints board level in the calendar year 00, are used as a basis for funding the operating year 02. Figures from FinKN's annual report are applied. Specified information regarding the individual cases will not be distributed to the finance companies.
• For all cases that are included in the basis for calculation, an amount is set, called the case fee. This set amount will be same for all cases. For cases that are reviewed at both secretariat and complaints board level, the amount will be doubled. The amount is set in conjunction with the annual budgetary procedure. As of 2023 the case fee is set at NOK 12 150 ex VAT.
• All financial institutions affiliated with FinKN must pay an annual base amount, provided they conduct business that could lead to complaints being filed with FinKN. The base amount is incurred even if no complaints are filed. The base amount is determined by the Board in conjunction with the annual budgetary process. As of 2023 the base amount is NOK 12 400 ex VAT.
• Financial institutions that wish to be affiliated with FinKN, but are not a member of one of the contracting parties, pay a one-time affiliation fee. The amount is determined by the Board. As of 2023 the fee is NOK 40 000 ex. VAT per financial institution.
• The financial institutions are billed by FinKN directly.

The financial institution is considered part of the arrangement once the affiliation fee has been paid.

For debt collection agencies, the funding consists of the following components:

The Board at FinKN has adopted a distinct funding arrangement, which, as of fiscal year 2016, will apply for affiliated debt collection agencies.

The main points are as follows:

Invoicing is to be split in two.

The first invoicing will normally take place in January, and accounts for 75 % of the budget. Billing is separated into categories determined by the agency’s number of employees (FTE) as of December 31 the previous year. Agencies reporting 0 FTEs are automatically placed in category 1. All agencies that have obtained a license, even there at this time are no actual FTEs associated with the operation, will be billed.

The categories are as follows:

Category 1:        1 – 2 employees
Category 2:        3 – 5 employees
Category 3:        6 – 10 employees
Category 4:        11 – 20 employees
Category 5:        21 – 50 employees
Category 6:        51 – 100 employees
Category 7:        More than 100 employees
Category 8:        Public institutions

The second invoicing will normally take place in the second quarter, and accounts for the remaining 25 % of the budget. This billing is determined by the number of cases registered per agency. A case reviewed at both the secretariat and complaints board level will be counted as two cases.

When registering with FinKN, the agency will be a charged a one-time affiliation fee. All agencies that obtain a license from the Financial Supervisory Authority of Norway, with permission to engage in debt collection, are required to join FinKN. The size of the affiliation fee is determined by the number of FTEs in the agency (see the categories above).