Former Financial Supervision Authority Director Charged Skip to content

Former Financial Supervision Authority Director Charged

The National Commissioner of the Icelandic Police has filed charges against Gunnar Andersen, former director of the Icelandic Financial Supervision Authority (FME), and an employee of Landsbanki for breach of confidentiality and violating the customer’s right to privacy, according to Fréttablaðið’s sources.


Copyright: Icelandic Photo Agency.

Additionally, Gunnar is said to have been charged with having committed violations as a public servant. The charge is reported to have been issued in mid-June 2012. Violating confidentiality can result in up to three years in prison.

Gunnar is said to have appointed an employee of Landsbanki with the task of obtaining information on the finances of Independence Party MP Guðlaugur Þór Þórðarson. The data is then thought to have been passed on to the newspaper DV, which ran a story based on the information.

The board of FME announced to Gunnar on February 17, 2012, that he was to be relieved of his duties. He formally stepped down on March 1. At the same time, the board is said to have filed charges against Gunnar due to violations committed while in office.

The Landsbanki employee, who is suspected of having provided Gunnar with the aforementioned information, was sent on an indefinite leave.

In addition, University of Iceland lecturer Ársæll Valfells and news director of DV Ingi Freyr Vilhjálmsson allegedly had the status of suspects during the investigation of the case but the cases against them were dropped, as they were notified in late June.

In a statement on March 12, Ársæll said he had passed the information about Guðlaugur Þór from FME to DV at the request of Gunnar.

The article on the MP’s finances was published in DV on February 29, stating that a holding company in his ownership received almost ISK 33 million (USD 276,000, EUR 222,000) from Landsbanki in June 2003 because of his sale of an agency for the insurance distribution of Swiss Life to Landsbanki.


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