Here is the rewritten article in markdown format:
Iceland’s Central Bank Enforces Compliance in Financial Institutions
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The Central Bank of Iceland plays a crucial role in monitoring the compliance of financial institutions with laws, regulations, and rules governing their activities. The bank ensures that these entities practice sound business principles and maintain transparency.
Regulated Activities
The Central Bank supervises a wide range of financial undertakings, including:
- Commercial banks (Act no. 161/2002)
- Savings banks (Act no. 161/2002)
- Credit undertakings (investment banks) (Act no. 161/2002)
- Investment firms (Act no. 115/2021, Act no. 45/2020)
- UCITS management companies (Act no. 116/2021)
- Alternative investment funds managers (Act no. 45/2020)
- And many more…
Supervision of Securities Market
The Central Bank also oversees the securities market, regulating activities such as:
Acquisition of Issuers
- Acquisitions of issuers whose securities have been admitted to trading on a regulated securities market (Act no. 108/2007)
Investment Services and Activities
- Investment services and the practice of investment activities (Act no. 115/2021)
Short Selling and Credit Default Swaps
- Short selling and credit default swaps (Act no. 55/2017)
Other Supervision
In addition, the Central Bank monitors other areas, including:
Insurance Contracts
- Insurance contracts (Act no. 30/2004)
Distance Selling of Financial Services
- Distance selling of financial services (Act no. 33/2005)
Key Information Documents
- Key information documents for packaged retail and insurance-based investment products (Act no. 55/2021)
Supervision of Winding-Up Boards
The Central Bank also has special supervision over the winding-up of financial undertakings, which is managed by winding-up boards.
Activities Abroad
The bank’s oversight extends to activities of domestic entities abroad and foreign entities in Iceland, subject to specific laws and international agreements.