Legislation, Rules and Guidelines

Legislation

Act on Markets in Financial Instruments (115/2021)

Act on Undertakings for Collective Investment in Transferable Securities (UCITS), Investment Funds and Professional Investment funds (128/2011) [No longer in force]

Act on Payment Services ( 120/2011) [No longer in force]

Act on Insurance Activities (100/2016)

Act on Insurance Activities, with Amendments (56/2010) [No longer in force]

Act on Stock Exchanges (110/2007) [No longer in force]

Act on Securities Transactions (108/2007)

Act on Measures against Money Laundering and Terrorist Financing (140/2018)

Act on Measures against Money Laundering and Terrorist Financing (64/2006)  [No longer in force]

Act on Annual Accounts (3/2006)

Act on Financial Undertakings (161/2002)

Act on the Payment of Costs for Public Supervision of Financial Activities (99/1999)

Act on Official Supervision of Financial Activities (87/1998)

Act on Mandatory Pension Insurance and on the Activities of Pension Funds (129/1997)

Act respecting Public Limited Companies ( 2/1995)

Administrative Procedures Act (37/1993)

Rules

Rules on appropriate and sound business practices, communications with customers, and handling of complaints (353/2022)

Rules on Maximum Debt Service-to-Income Ratios for Mortgage Loans to Consumers (1268/2021)

Rules on Maximum Loan-to-Value Ratios for Mortgage Loans to Consumers (778/2021)

Rules on maximum loan-to-value ratios for residential mortgages
 
Rules on Bonus Schemes under the Act on Financial Undertakings  (388/2016)

Rules on the Proper and Sound Business Practices of Financial Undertakings (670/2013)

Rules on Large Exposures of Financial Undertakings (625/2013)

Rules on Additional Own Funds Items for Financial Undertakings (1250/2012)

Rules on Treatment of Inside Information and Insider Transactions (1050/2012)

Rules on the Fit and Proper Assessment of Managing Directors and Directors of Financial Undertakings (887/2012)

Rules on Credit provided by a Financial Undertaking to Directors, a Managing Director, Key Employees or Parties with a Qualifying Holding in the Undertaking or Closely Connected to the Afore-mentioned (162/2011)

Rules on Currency Exchange Offices and Money and Value Transfer Services (917/2009)

Rules on the Supplementary Supervision of Financial Conglomerates (920/2008)

Rules - Authorising the Financial Supervisory Authority to Conclude Case Proceedings by Settlement (1245/2007)

Rules on Large Exposures Incurred by Financial Undertakings (216/2007)

Rules on the Capital Requirement and Risk Weighted Assets of Financial Undertakings (215/2007)

Rules on Additional Own Funds Items for Financial Undertakings (156/2005)

Rules on FME Criteria for Assessing the Exposure of Financial Undertakings and Decisions on Capital Adequacy Ratios above the Statutory Minimum, with Later Amendments (530/2004)

Rules on the Financial Statements of Securities Companies and Securities Brokerages (102/2004)

Rules on the Financial Statements of Management Companies of UCITS (97/2004)

Rules on the Financial Statements of credit institutions (834/2003)

Rules on the Auditing of Financial Undertakings (532/2003)

Rules on Large Exposures Incurred by Financial Undertakings (531/2003)

Rules on the Solvency Ratio of Financial Undertakings (530/2003)

Rules amending rules No. 55/2000, on Annual Accounts of Pension Funds (765/2002)

Rules of Business for Board Members, Director General and Employees of the Financial Supervisory Authority (704/2001)

Rules on the Auditing Departments and Independent Parties Responsible for Internal Control of Pension Funds of the 10 September 2001 (687/2001)

Rules on the Auditing of Pension Funds of 10 September 2001 (685/2001)

Rules - Various Rules and Decisions made by or concerning the Central Bank of Iceland (36/2001)

Rules on Annual Accounts of Pension Funds (55/2000)

Rules of the Icelandic Securities Depository, issued 13 June 2000

Rules on the Maximum Setting of Equalization Provision for Insurance Companies other than Life Insurance Companies (85/1999)

Rules on Listing of Securities on the Icelandic Stock Exchange, ltd. (2/1999)

Agreement between the Financial Supervisory Authority and Central Bank of Iceland on Payment and Settlement Systems (2003)

Agreement of Understanding regarding Pension Funds Between the Financial Minister and the Financial Supervisory Authority (2001) 

Rules on countercyclical capital buffers for financial undertakings (227/2020)

Rules on Business Transactions conducted by the Governor, Deputy Governors, External Committee Members, and Employees of the Central Bank of Iceland with Supervised Entities (303/2020)

Rules on Key Financial Information in the Summary of a Prospectus, the Publication and Classification of Prospectuses, Advertisements for Securities, Supplements to a Prospectus, the Notification Portal, and Notification of a Public Offering (320/2020)

Rules on systemic risk buffers for financial undertakings (323/2020)

Rules on capital buffers for systemically important financial undertakings (324/2020)

Guidelines

 

Guidelines on risks due to information systems operated by supervised entities (1/2019)

 

Guidelines on the Work of the Internal Audit Section of Financial Undertakings (3/2008)

Guidelines for Sound Liquidity Risk Management and Supervision (2/2010)

Guidelines Qualifications of Key Employees (3/2010)

Guidelines on the status and responsibilities of the compliance function of financial undertakings (5/2011)

Guidelines on the Enforcement of Rules No.1050/2012 on Treatment of Inside Information and Insider Trading (2/2012

Guidelines on IT Systems of Supervised Entities (2/2014)

SREP Methodology and Benchmarks

 

Common Criteria and Methodologies for SREP

Annex 1: Supervisory Benchmarks for the Setting of Pillar 2 Additional Own Funds Requirements for Credit and Concentration Risk

Annex 2: Supervisory benchmarks for the Setting of Pillar 2 Own Funds Requirements for Market Risk

Annex 3: Capital Buffers

 


Insurance activities

Statistical Information

The FSA periodically publishes statistical information regarding credit institutions, pension markets and insurance markets.

Statistical information






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