Iceland's top regulator: evidence shows failed banks broke the law


The Icelandic regulator has found evidence of widespread fraud and illegal activity that implicates some of the country's banks, including some of those that failed when the sector collapsed in the autumn of 2008.

Gunnar Andersen, the director-general of the country's Financial Supervisory Authority (FME), on Friday told that supervisors had referred 33 cases to the special prosecutor's office. "These are cases concerning supervised banks that involve market manipulation, fals

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