Regulatory Alerts2018-08-14
Added · Updated
Regulation on Qualifying Holdings 2016
The Austrian Financial Market Authority issued the Regulation on Qualifying Holdings 2016 to standardize the information requirements for parties acquiring, increasing, or reducing qualifying holdings in financial institutions. The regulation defines qualifying holdings as direct or indirect stakes of 10% or more, or those conferring significant influence, and mandates specific notifications for credit institutions, insurers, investment service providers, payment institutions, and electronic money institutions. It establishes detailed obligations for the completeness and correctness of submitted data, including identity verification, business activity statements, and management details, while allowing for the reuse of previously filed information under strict conditions.