Banking and finance
LOGOS has extensive insight in the field of consulting financial undertakings and other parties providing financial services. The regulatory environment is constantly evolving and therefore challenging for regulated parties, who must always be on alert regarding changes.
LOGOS regularly provide their clients, both domestic and international, with advice in connection with compliance, operation licenses, correspondence with the financial supervisory authority of Central Bank of Iceland, employee competence qualifications, acquisition of qualifying holdings, cross-border marketing, preparation of internal rules and more.
Precision and knowledge is essential when it comes to compliance with rules for financial services, which generally include the implementation of EU regulations, such as CRD IV, CRR, MiFID II, MAR, EMIR, PSD2, IDD, UCITS, AIFMD and AMLD.
LOGOS has expertise and experience in consulting in the field of financial services. Among their projects are:
- Legal advice to financial undertakings, market operators, undertakings for the collective investment in transferable securities, alternative investment funds, professional clients and eligible counterparty
- Applications for operation licenses
- Investment authorization for pension funds and other mutual investment funds, such as UCITS and AIF’s
- Notification of qualifying holdings
- Prepare employees for the competent authority’s suitability assessment of key function holders
- Assistance in enforcing new rules on money laundering and registration of beneficial owners
- Advice and opinions regarding incentive remunerations
- Structuring internal rules for financial undertakings, including credit rules
- Consulting on marketing of financial services and funds
- Assistance with the implementation of new rules on payment services (PSD2)
- Communication with competent authorities
LOGOS monitors closely their clients needs and are well alerted to the innovation and development of financial markets and services. The firm is also leading in other areas, such as data protection (GDPR), tax law and company law. LOGOS is a full service law firm for the financial services industry.
The international rating agencies Chambers and Partners and The Legal 500 agree that LOGOS is one of the leading law firms in Iceland in financial services.
- The Legal 500 on banking, finance and capital markets
"LOGOS has been involved in most of the important transactions taking place in Iceland and has extensive experience in all manner of finance related transactions."
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The Legal 500 results for 2023
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The obligation to notify transactions under the MAR
Act No 60/2021 on measures against market abuse entered into force on the 1 September 2021 and implemented provisions from the EU Market Abuse Regulation (MAR) into Icelandic law.
Draft bill for a new Act on Payment Services (PSD2)
On 9 March 2021, the Minister of Finance and Economic Affairs’ introduced to Parliament a bill for a new Act on Payment Services.