Embattled Icelandic fishing giant Samherji said it has taken steps to implement a corporate governance and compliance system in the wake of the Namibian cash-for-quotas scandal.

The new regimes will come under Samherji group’s future management structure and will cover all subsidiaries.

“Samherji will develop and implement a holistic compliance system based on the company’s risk structure with focus on, among others, anti-corruption, economic sanctions and anti-money laundering,” Interim Samherji CEO Bjorgolfur Johannsson said.