Surveillance Iceland

Supervision of the Securities Market

Nasdaq OMX Iceland information and market surveillance

Nasdaq OMX Iceland surveillance is a vital aspect of investor protection and a main focus of the Exchange’s activities. Through its surveillance activities Nasdaq OMX Iceland ensures that securities issuers and Nasdaq OMX Iceland members work in accordance with exchange rules. Nasdaq OMX Iceland is also obliged, under the Stock Exchange Act, to inform the Financial Supervisory Authority if it suspects any violations of securities market legislation. Nasdaq OMX Iceland regards surveillance as one of the most important premises for the credibility of a securities market and considers surveillance to be an important market service. Nasdaq OMX Iceland makes every effort to assist issuers and members if questions arise. Nasdaq OMX Iceland News and Views have served to an increasing extent as a forum for expressing exchange’s views on numerous issues to the market. Should serious violations of exchange rules arise, or recurring minor violations, the issuers or members concerned may be subjected to fines by Nasdaq OMX Iceland.

Nasdaq OMX Iceland’s surveillance is primarily of two types:

• Disclosure surveillance: Supervision of issuers’ disclosure requirements
• Trading surveillance: Supervision of trading on Nasdaq OMX Iceland’s trading system

Nasdaq OMX Iceland is also obliged to monitor other aspects as specifically provided for by law, e.g. disclosure of major shareholdings (flagging), take-over rules and notifications of insider trading in listed securities.

Co-operation between Nasdaq OMX Iceland and the Financial Supervisory Authority (FME)

Nasdaq OMX Iceland and FME are responsible for surveillance on the Icelandic securities market. The agreement between the parties (see below) is intended to serve as a guidelines on the efficient co-operation and division of responsibilities between the parties in relation to surveillance. The main objectives of the co-operation are to ensure efficiency in investigations and handling of supervisory affairs, to ensure clarity in responsibility and division of tasks between the Parties and to ensure consistency in the responses of FME and Nasdaq OMX Iceland when cases arise.

Agreement with FME (Financial Supervisory Authority - Iceland)

Market Intervention  »

Forms for company disclosure

Major holdings

Related party trading

Director´s dealing

Issuer holdings

Guide to the Major holdings form