The OMX Nordic Exchange in Iceland has approved Landsbanki Islands as Certified
Adviser (CA) on First North Iceland. Landsbanki will thereby be the first
company to fulfill this role on the Icelandic market. The CA's role is to
assist and advice a company during the admission process and serve as an
adviser and an intermediary with the First North market while the company
remains on the market. The CA set-up is designed to build trust in the market
as the CAs are responsible for monitoring that the companies they advice at all
times fulfill the First North admission and disclosure requirements.
To become Certified Adviser for First North, companies must meet certain
conditions. Those are mainly:
- Be a legal entity
- Have an adequate number of employees
- Ensure that employees of the Certified Advisers are fit and proper and have
proven experience of corporate finance business
- Have internal rules regarding trading in shares in companies for which the
firm acts as Certified Adviser
- Have internal procedures regarding documentation and storage of information
Landsbanki will serve as a CA for the Century Aluminum Company, which shares
will start trading on First North Iceland on 14 June. First North welcomes
Landsbanki to the market.