Regulatory Alerts2026-04-22
Austrian PRIIPs Enforcement Act
Austria enacted the PRIIPs Enforcement Act to implement Regulation (EU) No 1286/2014, designating the Financial Market Authority (FMA) as the competent supervisory authority for credit institutions, insurance undertakings, and investment firms. The legislation mandates specific compliance obligations for pension products and grants the FMA extensive supervisory powers, including the authority to issue binding instructions, prohibit marketing, and impose administrative fines of up to EUR 5 million on legal entities. Furthermore, the Act establishes strict procedural rules for the publication of sanctions, the protection of whistleblowers, and the submission of key information documents to the FMA as the designated collection body.
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