New le­gis­la­tion on fin­an­cial in­stru­ments - you may need to take ac­tion

New laws on financial instruments enter into effect on 1 September 2021. The changes require action from legal entities and natural persons, who are not Icelandic nationals or who hold multiple citizenships and intend to trade in financial instruments.
1 September 2021

The legislation is intended to reinforce investor protection, transparency in transactions and other aspects of transactions with financial instruments traded on the market, such as equities, exchange-traded funds (ETFs) and bonds.

What do legal entities need to do?

Once the law enters into force, legal entities who wish to trade in financial instruments listed for trade on the market must apply for an international legal entity identifier code (LEI) from active and endorsed local operating units (LOUs).

Information about the LEI codes of legal entities should be emailed to, along with the name of the legal entity and its Icelandic Reg. No.

More details about LEI codes

What do individuals need to do?

If you are a national of a state other than Iceland or hold multiple citizenships, you need to inform Landsbankinn of all your national client identifier codes (NCI) in order to trade in financial instruments listed for trade on the market. Individuals who hold a simple Icelandic citizenship do not need to divulge their NCI codes.

Information about the NCI codes of natural persons should be emailed to, along with the name of the person and Icelandic Id. No.

Rules on NCI codes vary between countries. We’ve published more details on our website. If you have any questions, please contact us.

More details about NCI codes

More about the codes

LEI and NCI codes are required to undertake transactions in equities, exchange-traded funds (ETFs) and bonds listed on the market, e.g. Nasdaq Iceland and First North. The codes are not required if the customer only intends to trade in Landsbréf funds, with the exception of the ETF Landsbréf LEQ UCITS ETF.

You may also be interested in
New temp image
31 August 2023
Landsbankinn changes interest rates
In light of the recent interest rate decision of the Central Bank of Iceland, the following changes will be made to Landsbankinn’s interest rates. Interest rate changes also have regard for market rates and other funding terms of Landsbankinn.
Screenshot of fraudulent message
31 August 2023
Beware of fake text messages - do not open the link
This is a warning concerning a fake website made to look like that of Auðkenni and which includes a fraudulent connection to Landsbankinn.
23 August 2023
Shorter opening hours in 7 branches - service hours remain unchanged
On 13 September, the opening hours of seven branches will be shortened by three hours and will as a result be 12:00-15:00. While general opening hours will be shorter, customers can still make appointments to visit these branches between 10:00-16:00 and book remote meetings until 18:00, meaning that actual service hours remain unchanged. ATMs are accessible around the clock in all these locations.
18 August 2023
Cyclical– art exhibition opens in Austurstræti 11 on Reykjavík Culture Night
A new exhibition of art from Landsbankinn's collection will be opened in the event of Reykjavík Culture Night in the Bank’s branch at Austurstræti 11. The exhibition is titled Cyclical and is curated by Daría Sól Andrews.
15 August 2023
Eventful Reykjavík Culture Night in Reykjastræti and Austurstræti
Landsbankinn is one of the main backers of Reykjavík Culture Night and we actively take part in the festivities. This year, we are happy to welcome visitors to the Bank’s new headquarters at Reykjastræti 6 and to enjoy a new exhibition of artwork from the Bank’s collection in Austurstræti 11.
Flutningaskip við Vestmannaeyjar
2 August 2023
Vestmannaeyjar branch closes at noon Friday - all branches closed on Tradesman’s Day
Due to the annual festivities in Vestmannaeyjar, the local Landsbankinn branch will close at 12 noon on Friday, 4 August. All bank branches will be closed on Tradesman’s Day, Monday 7 August.
31 July 2023
New housing for Landsbankinn in Akureyri
Landsbankinn in Akureyri will move to Hofsbót 2-4 before the end of 2024, according to a long-term rental agreement with the owners of the premises.
31 July 2023
Fifteen entries receive grants from the Pride Parade Fund of Reykjavík Pride and Landsbankinn
Fifteen entries received grants from the Pride Parade Fund of Reykjavík Pride and Landsbankinn.
31 July 2023
Seven interesting projects receive sustainability grants
Landsbankinn has now allocated sustainability grants for the second time. Seven interesting projects received grants this year in the total amount of ISK 10 million.
31 July 2023
Changes to authentication process in the app
We are making changes to the means by which customers confirm payments and various other actions in Landsbankinn’s app. The aim is to enhance security in ecommerce.

By clicking "Allow All", you agree to the use of cookies to enhance website functionality, analyse website usage and assist with marketing.

More on cookies