New Security Act
The new Act focuses not only on the protection of classified information, but also information systems, infrastructure and objects of central importance to national security. The modernized Security Act provides companies with greater flexibility in implementing preventive security measures. However more companies are affected, and these companies will need to prepare internal control systems, adopt risk assessments, implement protective measures and notify authorities in case of security incidents.
Who is subject to the new Security Act?
Private companies in addition to sectors such as infrastructure, electronic communications, power supply, water supply, banking, finance, law enforcement, defence and public procurement are subject to the new law. It is increasingly important for companies, employees, boards and management to understand and manage digital risk.
Strategic focus on security
Different sets of security rules will apply in different circumstances for companies doing business in Norway. We have recently seen several examples of how the Act works in practice, amongst other with ownership restrictions in connection with the sale of Bergen Engines. These cases have shown the importance of taking a risk-based approach when assessing the Safety Act and gain an understanding of when businesses fall within the scope of the Act, and when they do not.
Ræder has extensive experience advising national and international clients on matters related to information security, regulatory compliance and advising on Security Act's requirements. They provide strategic advice and have a sound knowledge of Public Law, Public Government Relations and Politics. The team is led by lawyer, partner and former Minster of Justice Jøran Kallmyr. Ræder's lawyers also cooperate with leading individuals in the defence sector.
The team can assist with:
- Defining which parts of the organization are subject to new law
- Establishment of necessary and statutory management of safety
- Advice on the requirements of the Security Act in procurements
- Strategic advice and assistance in relation to the Safety Act
- Establishment and participation in the Advisory board
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