Stock exchange insider rules appear triggered by bank tax plan

A condition set by the stock exchange’s market surveillance unit for considering an insider information case appears to have been met following the submission of the budget bill, mbl.is reports.

The condition concerned the publication of information about planned tax increases. In the finance minister’s presentation of the 2027 to 2031 fiscal plan in March, plans to raise bank taxes were disclosed, but no figures were given.

The following day, Þórður Snær Júlíusson, executive director of the Social Democratic Alliance parliamentary group, stated unequivocally that the taxes would increase by six billion krónur.

The budget bill has now confirmed that this is the case, meaning the stock exchange’s condition regarding insider information appears to have been met. Neither the stock exchange nor the Central Bank’s Financial Supervisory Authority would say whether the matter had been investigated.