Brief: Islandsbanki To Enter Settlement Proceedings After Prelim Findings Of FSA Inspection
10/01/2023 07:17
Jan 10 (Reuters) - Islandsbanki hf ISB.IC :
* SAID ON MONDAY, RECEIVED PRELIMINARY FINDINGS FROM FSA
INSPECTION INTO EXECUTION OF OFFERING BY ICELANDIC STATE OF A
22.5% STAKE IN SHARE CAPITAL OF ISLANDSBANKI THAT TOOK PLACE IN
MARCH 2022
* FSA FINDS THAT THE BANK MAY HAVE VIOLATED CERTAIN LAWS AND
REGULATIONS APPLICABLE TO THE BANK'S OPERATIONS
* FSA FINDINGS REFER TO FSA'S POWERS TO IMPOSE
ADMINISTRATIVE
FINES AND TO CONCLUDE CASES WITH A SETTLEMENT
* FSA AGREED, AT THE BANK'S REQUEST, TO ENTER INTO
SETTLEMENT
PROCEEDINGS
Source text for Eikon: urn:newsml:reuters.com:*:nGNE69g9rJ
Further company coverage: ISB.IC
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