Regulatory Alerts2017-04-10
Regulation on Fees for Trustees of Insurance Undertakings (VU-TGV)
The Financial Market Authority (FMA) issued this regulation to establish the remuneration fees for trustees monitoring the Deckungsstock of insurance undertakings in Austria. The document defines the assessment base as year-end assets and sets specific annual function fee amounts for trustees and their deputies based on tiered asset thresholds ranging from EUR 1,526 to EUR 7,631. Insurance undertakings are required to reimburse the FMA for these fees semi-annually, with payments due on July 1 and January 1 respectively.
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