Regulatory Alerts2026-05-12
Benchmarking Enforcement Act (RW-VG)
The Austrian Federal Government issued this act to transpose EU Regulation 2016/1011, establishing the Austrian Financial Market Authority (FMA) as the primary regulator for benchmark oversight. The FMA exercises extensive supervisory powers, including direct data access, on-site inspections, asset freezing, and the authority to mandate corrections or suspend benchmark usage. The legislation enforces strict compliance through administrative fines of up to EUR 1 million or 10 percent of annual turnover, detailed liability frameworks for legal persons, and clear procedures for sanction calculation and enforcement.
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