Client Classification

According to the Icelandic Act on Securities Transactions no. 108/2007, Arctica is obligated to classify each client according to its experience and knowledge. There are three classes of clients, retail clients, professional clients and eligible counterparties, with each classification entailing variable obligations for Arctica Finance towards each client.

Client approval

Clients that are classified as professional clients or eligible counterparties must agree to and approve their classification.