Financial separation at the Slysavarnarfélagið Landsbjörg

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• Case number: 37/2021
• Date: 22/9/2021
• Company:
  • Slysavarnafélagið Landsbjörg
• Sectors:
  • Consumer goods, supplies and etc.
• Policy Area:
  • Other
• Summary

  The Icelandic Competition Authority investigated how the Icelandic Association for Search and Rescue, Landsbjörg has complied with instructions on financial separation, on the one hand, regarding activities where Landsbjörg benefits from public funding or subsidies from public funds, and on the other hand, activities in competition with other parties. The case dates back to a decision of the Icelandic Competition Authority from 2007. The Icelandic Competition Authority believes that Landsbjörg has complied with the decision's instructions but could do better in providing information about financial separation, which is likely to dispel the suspicions of competitors. For this reason, the Icelandic Competition Authority recommends that Landsbjörg publicly publish on its website clear information regarding the separation and how Landsbjörg competitive units participate in common costs and how transactions between departments are separated, as if they were unrelated parties. At this stage, the Icelandic Competition Authority does not consider there to be any grounds for further action regarding the financial separation of Landsbjörg's operations. However, failure to comply with the Icelandic Competition Authority's recommendations for improved disclosure may result in the conditions of an earlier decision from 2007 being reconsidered.