Regulatory Alerts2026-06-23
Added · Updated
Financial Market Authority Act (FMABG)
The Austrian Federal Government established the Financial Market Authority (FMA) as an independent public law institution to conduct banking, insurance, securities, and pension fund supervision. The Act defines the FMA's extensive legal powers across numerous specific statutes, outlines its governance structure comprising an Executive and Supervisory Board, and establishes liability frameworks where the Federal Government bears responsibility for damages caused by the FMA. It further regulates the FMA's operational procedures, financial planning, cooperation with European authorities, and enforcement mechanisms including regulatory sandboxes and anti-money laundering compliance.
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