The Austrian Financial Market Authority (FMA) announcement
Chris Potts
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Chris Potts
Co-founder I Director I Chief Compliance Officer I MLRO I [email protected] GRC/CRM for Financial Services, globally, through affordable & cutting edge technology via the platform and consultancy services
The Austrian Financial Market Authority (FMA) announces that it has imposed a fine of EUR 90,160 against Volkskreditbank AG as a legal person for a breach against the Securities Supervision Act 2018 (WAG 2018; Wertpapieraufsichtsgesetz 2018) and Delegated Regulation (EU) 2017/565 for a breach of organisational rules in relation to transparency of fees with the statements of costs for clients. The penal order is not final.