Regulatory Alerts2018-09-11
FMA Circular on Organisational Requirements under the Securities Supervision Act 2018 and Delegated Regulation (EU) 2017/565
The Austrian Financial Market Authority issued this circular to outline organizational requirements for investment firms and related entities under the Securities Supervision Act 2018 and Delegated Regulation (EU) 2017/565. It mandates the establishment of independent compliance, risk management, and internal audit functions while detailing their competences, fitness standards, reporting obligations, and permissible outsourcing arrangements. Applying the principle of proportionality, entities must tailor these structural and operational safeguards to their specific business scale, complexity, and service scope to ensure continuous compliance and effective client protection.
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