Norwegian regions could lose billions of krone on products


Terra Securities has had its brokerage licence revoked by the financial authorities after failing to properly disclose the risks of complex structured products it sold. Four Norwegian townships face losses of up to NKr4 billion (US$715 million) after investing in high-risk products sold by the Oslo-based securities firm, which were originally issued by Citi.

The products, which Citi describes as "municipal portfolio fund-linked notes", suffered a loss of value after problems in US credit markets.

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: