On January 12th 2016 the Financial Supervisory Authority of Iceland, hereinafter referred to as the FME, and BankNordik, hereinafter referred to as the party, entered into a Settlement Agreement due to a violation of Article 126 and Article 127 of Act No. 108/2007 on Securities Transactions, hereinafter the Act.
The Financial Supervisory Authority, Iceland, has today, pursuant to Articles 84(b), (c) and (d) of Act on Financial Undertakings No. 161/2002, decided that credit institutions and credit undertakings shall hold systemic risk buffer (SRB), a capital buffer on other systemically important institutions (O-SII) and countercyclical capital buffer (CCyB).