Iceland PM during Icesave crisis to stand trial

clock

Geir Haarde, the former Icelandic Prime Minister, is to go on trial on charges of negligence during the 2008 financial crisis.

Haarde is accused of failing to ensure financial safeguards were in place in the build-up to the failure of three of the country's biggest banks, including Landsbanki. Landsbanki was the parent company of Icesave which failed in 2008 leaving thousands of people in the UK and Netherlands without their savings. A compensation dispute, which saw the UK's then Prime Minister Gordon Brown accuse Haarde of "illegal" behaviour, has yet to be resolved. Haarde rejects the charges.

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

'Risk aversion' from FCA and PRA limiting UK growth and competitiveness

'Risk aversion' from FCA and PRA limiting UK growth and competitiveness

Regulators 'constraining firms', House of Lords report claims

Patrick Brusnahan
clock 13 June 2025 • 2 min read
FCA targeted support communication to 'ramp up' as further guidance issued

FCA targeted support communication to 'ramp up' as further guidance issued

Regulator expected to update the industry this month

Isabel Baxter
clock 09 June 2025 • 5 min read
FCA joins forces with international regulators on illegal finfluencer crackdown

FCA joins forces with international regulators on illegal finfluencer crackdown

Nine regulators from across the globe come together

Isabel Baxter
clock 06 June 2025 • 3 min read