Regulatory Alerts2018-06-29
Added · Updated
FMA Circular on Personal Transactions by Employees with Financial Instruments pursuant to MiFID II
The Austrian Financial Market Authority issued this circular to provide guidance to credit institutions on complying with Article 28 et seq. of Delegated Regulation (EU) 2017/565 regarding personal transactions by employees. The document mandates that firms implement broad confidentiality areas, document all arrangements in writing, and enforce prompt notification of every personal transaction without de minimis limits or differentiation between in-house and third-party accounts. Furthermore, legal entities must deploy timely control measures that include both checking reporting compliance and conducting material checks against watch lists and trading activities.
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