Regulatory Alerts2018-06-29
FMA Circular on Personal Transactions by Employees with Financial Instruments pursuant to Article 28 et seq of MiFID II Delegated Regulation (EU) 2017/565
The Austrian Financial Market Authority published this circular to guide credit institutions and other legal entities on complying with personal transaction obligations under MiFID II Delegated Regulation (EU) 2017/565. It requires firms to maintain broad confidentiality areas, document written arrangements with explicit control measures, and notify all employee transactions involving financial instruments without de minimis limits or account-type differentiation. Additionally, the guidance mandates prompt notification on the same or following banking day alongside timely material checks against watch lists and trading records to effectively mitigate conflicts of interest.
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