Former director of Kaupthing Bank, Hreidar Mar Sigurdsson, has sent a letter to the Icelandic Prime Minister complaining about the Icelandic Financial Supervisory Authority. Read the full story

A letter sent from the UK FSA, Financial Services Authority, to Landsbanki on the 3rd October 2008 established that assets were frozen five days before the British government introduced the terrorist law. Read the full story

Bjorgvin G. Sigurdsson, Iceland’s Minister of Commerce has resigned from his post. At the same time he announced that the director of the Icelandic Financial Supervisory Authority, Jonas Fr. Jonsson and the board of the institution are stepping down also. Sigurdsson stated that with this he is shouldering his share of the responsibility for the financial crisis. He also acknowledged that others bear responsibility as well.

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The Financial Services Authorities (FSA) in the UK and Iceland have been warned about a London-based hedge fund which disapproved of a British professor‘s positive assessment of the Icelandic economy, reports visir.is and Iceland Review.

Dr Richard Portes, professor in economics at the London Business School and President of the Centre for Economic Policy Research, was allegedly contacted by the hedge fund which urged the professor to consider his reputation when reporting on Iceland and Icelandic banks.

Dr Portes is the author of a number of influential reports on the financial situation in Iceland and has recently portrayed the Nordic country and its banks in a more positive light than many other foreign analysts and media outlets.

The hedge fund in question is one of the four foreign hedge funds that Sigurdur Einarsson, Chairman of Kaupthing Bank, has accused of instigating an attack on the Icelandic financial market and Icelandic banks.

“I quickly realised what was happening and decided to listen carefully and take notes,” Dr Portes said. He then contacted the FSAs in both the UK and Iceland to report the incident.

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