Arctica Finance controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Failure to preserve client receipts
The Central Bank of Iceland fined Arctica Finance ISK 700,000 for failing to preserve receipts received from clients in accordance with securities-transaction requirements.
2017
Employee-dividend bonus-rule violation
The Icelandic Financial Supervisory Authority fined Arctica Finance ISK 72 million after determining that dividends paid to employees violated bonus rules. A district court later reduced the fine to ISK 24 million, and the Supreme Court rejected the company’s appeal in 2021.