Regulatory Alerts2026-04-24
Financial Conglomerates Act (FKG)
The Austrian Federal Act on the Supplementary Supervision of Credit Institutions, Insurance Undertakings and Investment Firms in a Financial Conglomerate (FKG) establishes the legal framework for overseeing financial groups operating across multiple sectors. It defines financial conglomerates based on specific asset and activity thresholds, requiring entities to notify the Financial Market Authority (FMA) when they meet these criteria. The Act mandates supplementary supervision to ensure adequate capital bases, manage risk concentrations, and regulate intra-group transactions within these complex financial structures.
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