Measures to prevent conflicts of interest

ISFI manages several holdings at once. To reduce the risk of conflicts of interest, Icelandic State Financial Investments will ensure the following:

• Icelandic State Financial Investments will not appoint members of its staff to the boards of  financial undertakings.
• Icelandic State Financial Investments will not appoint the same person to more than one company board of directors.
• Complete confidentiality will be observed in the handling of the business and managerial information which ISFI has access to for each undertaking. Care shall be taken to ensure that confidential information is not disclosed to other financial undertakings or leaked in any other way.
• If a financial undertaking has listed securities on the stock exchange, an evaluation will have to be made on whether the ISFI staff members that have access to information on the company should be placed on the insider trading list of the relative company. In each case, however, it will be up to the undertaking in question to decide whether the ISFI employee should be placed on this list. ISFI employees should always be notified if the information they are being privy to is classified as inside information. 
• Icelandic State Financial Investments makes decision as a shareholder, with the interests of the relative financial undertakings as its key consideration, as well as the objective of implementing the state’s ownership policy and ensuring that laws and regulations are observed in the activities of the relative undertaking.

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