March 1, 2012 / 3:56 PM / 6 years ago

Iceland FSA board sacks Director General

STOCKHOLM, March 1 (Reuters) - Iceland’s Financial Supervisory Authority board said on Thursday it had sacked its director general for gving misleading or false information about companies he chaired during his time at failed bank Landsbanki.

Gunnar Andersen had been a managing director at Landsbanki, one of the country’s top commercial banks, which collapsed under a massive weight of debt at the end of 2008. While at Landsbanki, Andersen served as chairman of two offshore companies.

The board said Anderson “participated in providing (the regulator) with misleading or actually incorrect information on the existence of these companies”.

The board said Anderson had been notified of its decision to terminate his contract. The FSA’s chief legal counsel, Unnur Gunnarsdottir, has temporarily assumed his responsibilities.

The FSA’s board said it had also received indications that Andersen may have obtained confidential information from the banking system unlawfully. It has reported the matter to the police. (Editing by Will Waterman)

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