Iceland Indicts Former FSA Head Andersen, State Prosecutor Says

Iceland’s state prosecutor indicted Gunnar Andersen, the former head of the island’s Financial Supervisory Authority, for violating banking secrecy by gathering information on one of the country’s lawmakers.

Andersen collected information on the personal finances of opposition Independence Party lawmaker Gudlaugur Thor Thordarson and leaked it to newspaper DV, Deputy State Prosecutor Helgi Magnus Gunnarsson said in an e-mail today.

Andersen was in March this year fired from the Reykjavik-based watchdog, which he took over in 2009, for not disclosing financial holdings. He couldn’t immediately be reached for a comment on his mobile phone.

He faces up to one year in prison, according to Iceland’s penal code.

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