Terra Securities ASA was a Norwegian

security company A private security company is a business entity which provides armed or unarmed security services and expertise to clients in the private or public sectors. Overview Private security companies are defined by the U.S. Bureau of Labor Statistic ...

that sold various

financial instrument Financial instruments are monetary contracts between parties. They can be created, traded, modified and settled. They can be cash (currency), evidence of an ownership, interest in an entity or a contractual right to receive or deliver in the form ...

s, index options,

hedge fund A hedge fund is a Pooling (resource management), pooled investment fund that holds Market liquidity, liquid assets and that makes use of complex trader (finance), trading and risk management techniques to aim to improve investment performance and ...

s and other investment securities through 78 local savings banks that are members of Terra-Gruppen. In 2006 it had a market share of 1.92% on

Oslo Stock Exchange Oslo Stock Exchange () (OSE: OSLO) is a stock exchange within the Nordic countries and offers Norway's only regulated markets for securities trading today. The stock exchange offers a full product range including equities, derivatives and fixed ...

, rating it as the 21st largest of 49 security companies in Norway. The company was a subsidiary of Terra Markets that is owned by Norne Securities. In 2007 the company was hit by the Terra Securities scandal that after having misinformed eight municipalities in Norway as to the risk of their investments. On 28 November 2007 the company filed for

bankruptcy Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the deb ...

after the

Financial Supervisory Authority of Norway The Financial Supervisory Authority of Norway () is a Norwegian government agency responsible for supervision of financial companies within Norway based on law and regulations from Storting, the Norwegian Ministry of Finance and international a ...

had stripped Terra Securities of its brokerage license.

References

Financial services companies of Norway Companies based in Oslo Financial services companies established in 1997 Financial services companies disestablished in 2007 Defunct companies of Norway 2007 disestablishments in Norway Norwegian companies established in 1997 {{Norway-bank-stub