FME IS

  The European Systemic Risk Board (ESRB) sent warnings to five European countries and recommendations to six European countries in connection with its assessment of medium-term residential real estate (RRE) sector vulnerabilities. Iceland is one of the countriesreceiving such a warning, along with France, Norway, the Czech Republic and Germany. The...

The Slovakian insurance undertaking NOVIS has sold its life insurance product Wealth Insuring to a number of Icelandic policyholders from early 2018. Therefore, the Financial Supervisory Authority (FME) finds it appropriate to draw attention to a notification on the undertaking's homepage where it states that NOVIS has stopped selling...

The Financial Supervisory Authority (FME) Annual Report 2019 is now available in English. The substantial discussion in the Annual Report of the FME for 2019 primarily covers the period from 1 May 2018 until 30 April 2019. The report describes the main tasks of FME and, in particular, tasks...

On 28 June 2019, FME announced that the countercyclical capital buffer would remain unchanged in accordance with the recommendations of the Financial Stability Council on 24 June 2019. Further information on capital buffers is available here. Source link

On 20 June this year, Althingi passed a new Central Bank Act to merge the Central Bank of Iceland and the Financial Supervisory Authority into one institution as of the beginning of next year. The Act makes no changes to the tasks entrusted to these two institutions. It describes...

Today, it was announced that work has commenced on a review of the statutory framework for monetary policy, macroprudential policy, and financial market supervision, including a merger ofthe Central Bank of Iceland and the Financial Supervisory Authority. Here is a link to the announcement published today, October 11, on the...

The Financial Supervisory Authority published an interpretation on 5 July 2018 on the marketing, distribution or sale of CFDs and binary options covered by ESMA‘s measures dated 27 March 2018. The measures are based on Article 40 of Regulation (EU) No 600/2014 (MiFIR) in light of the inherent risk...

The Financial Supervisory Authority (FME) Annual Report 2018 is now available in English. The substantial discussion in the Annual Report of the FME for 2018 primarily covers the period from 1 May 2017 until 30 April 2018. The report describes the main tasks of FME and, in particular, tasks...

The Financial Supervisory Authority considers the marketing, distribution or sale of CFDs and binary options covered by ESMA‘s measures dated 27 March 2018 to be contrary to proper and sound business procedures and practices in securities trading according to Article 5 of Act No. 108/2007 on Securities Transactions. The...

The Financial Supervisory Authority decided on 15 May to increase the countercyclical capital buffer in accordance with recommendations from the Financial Stability Council  dated 13 April 2018. The primary purpose of the countercyclical capital buffer is to increase the resilience of the financial system against potential losses due to increased...

The Financial Supervisory Authority has today concluded that Taconic Capital Advisors LP and its associated entities are eligible to acquire a qualifying holding in Arion banki hf. up to 33% of the banks shares and its subsidiaries Stefnir hf., Valitor hf., Vörður tryggingar hf. and Vörður líftryggingar hf., with...

The Financial Supervisory Authority has today concluded that Kaupþing ehf. is eligible to acquire a qualifying holding in Arion banki hf. up to 33% of the banks shares and its subsidiaries Stefnir hf., Valitor hf., Vörður tryggingar hf. and Vörður líftryggingar hf., with reference to Chapter VI of the...