This month, the UK Financial Services Authority (FSA) has indicated that transaction reporting firms under MiFID will need to obtain a bank identifier code (BIC) in order to be in compliance with wider European level regulations. In order to facilitate this, the regulator will continue to provide testing facilities for firms to test the records submission process with their ARM. The Committee of European Securities Regulators (CESR) had originally wanted each competent authority (CA) to collect this information and share relevant reports with other CAs by November 2008, one year after MiFID went live. BIC2 constitutes the result of a full and thorough review of the BIC scheme, carried out in accordance with clearly defined aims and principles, which has produced some significant changes and advances. BIC + IBAN international bank transfers are faster, more efficient, and low-cost as they are sent directly through the SWIFT interbank network without using intermediary banks (who deduct charges or fees for their service).

Country	City	Bank Name	Branch	SWIFT
Norway	Stavanger	Acta Asset Management ASA	Acta Asset Management ASA	AANSNO21XXX