The FME grants Askar Capital an operating licence as an investment bank.

30.8.2007

The Financial Supervisory Authority, Iceland has granted Askar Capital, an operating licence (authorisation) as an investment bank , according to Article 4 of Act No. 161/2002 on Financial Undertakings.

As an investment bank, Askar Capital will from now on have the permission to accept repayable funds from the public other than deposits, grant credit which is financed by repayable funds from the public and provide services in financial instruments, in accordance with the Act on Securities
Transactions (asset management).

Askar Capital has furthermore authorisation according to Article 20 of Act No. 161/2002, on Financial Undertakings, points 1-3, 6-7, 9, 11-12, however only for own account, according to point 7.

For further information contact Már Másson, Head of Communications - mar@fme.is .


 

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