Regulatory Alerts2026-04-22
Austrian Federal Act Implementing Regulation (EU) No 1286/2014 on Key Information Documents for PRIIPs
Austria enacts the PRIIPs Enforcement Act to implement EU Regulation 1286/2014, designating the Financial Market Authority (FMA) as the competent supervisory authority and data collection body for financial institutions. The legislation mandates specific compliance obligations for pension products and grants the FMA extensive powers to enforce rules through supervisory measures, including prohibitions on marketing and public warnings. It establishes a robust penalty regime with fines up to EUR 5 million for legal persons and up to EUR 700,000 for responsible individuals, while ensuring transparency through mandatory publication of sanctions and protection for whistleblowers.
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