Arion Bank agrees to ISK 280 million fine over regulatory compliance failures
Bitget2026/10/27 17:24- Arion Bank agreed to pay ISK 280 million under a settlement with the Financial Supervisory Authority of Iceland’s central bank.
- The settlement follows an April 2024 review into market abuse controls and investment services compliance.
- Reporting failures involved two customers’ share transactions in 2022 and 2023 showing clear indications of possible market manipulation.
- The regulator found inadequate suspicious trading controls and shortcomings in product governance, appropriateness assessments and employee competence.
- The bank acknowledged procedural deficiencies and committed to remedial measures already well advanced, including upgraded monitoring systems and stronger investor protection procedures.
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