Considerable work was undertaken during the year to update the District Commissioner’s register of funds, resulting in improved oversight and more reliable information on the status of funds and institutions. At the end of the year, 612 funds and institutions were recorded as active, while 44 funds were dissolved. It was found that 157 funds and institutions are registered without an identification number, which continues to pose a challenge for the supervision of their operations. In 2025, administrative fines were imposed for the first time for failure to submit annual financial statements. Although 189 funds or institutions were subject to fines, this new enforcement practice led to a significant improvement in compliance compared to previous years. The submission rate of annual financial statements for the 2024 financial year reached 89%, compared to 60% the year before.

At the end of 2025, 71 funds and institutions were still in arrears with their annual reports, representing a substantial reduction from the previous year. This indicates that the measures introduced have had a tangible impact on the effectiveness of supervision.

A review of the annual reports of 547 funds shows a strong overall financial position, with their total assets exceeding ISK 100 billion. However, the size and level of activity of the funds covered by the report vary widely; a large proportion operate on a limited scale, while a relatively small number of funds or institutions account for a substantial share of the assets and activity.

In light of the foregoing, the regulatory framework governing this area should now be more transparent, more efficient, and better suited to meeting the demands of modern times.