Regulatory Alerts2018-10-29
Added · Updated
FMA Circular 08/2018: Internal Control Requirements for Portfolio Management Reporting under WAG 2018
The Austrian Financial Market Authority (FMA) issued Circular 08/2018 to mandate that portfolio managers establish robust internal control mechanisms for monitoring systems and procedures that fulfill MiFID II reporting obligations under the WAG 2018. The circular specifies detailed compliance requirements for accurately reporting portfolio contents and valuations, fees and charges, performance against benchmarks, dividends and interest, capital measures, and executed transactions to clients. Firms must implement proportionate, audit-ready procedures with plausibility checks and comprehensive documentation to ensure data integrity, with full compliance expected by January 2019.
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