Comarum palustre; the marsh cincefoil is a plant of wet grasslands and moist soils. From what I have seen this plant prefers rather nutrient-rich soils, but I can be wrong here. Anyhow, I never saw it in mossy bogs. It can be found all over Iceland but for the interior desert highlands and arctic-alpine regions of the north-west. The compound leaves are relatively large with 5 (occasionally 7) leaflets with course dentated margins. The flowers are, unlike other common Icelandic cincefoils, reddish colored.
This species was formerly known as Potentilla palustris.
It is a member of the Rose family: Rosaceae. The Icelandic name of this species is Engjarós.