Regulatory Alerts2017-04-10
Regulation on Fees for Trustees of Insurance Undertakings
The Austrian Financial Market Authority establishes fixed annual remuneration fees for trustees and deputies monitoring the coverage funds of insurance undertakings. Calculated on a tiered basis according to year-end asset values, the fees range from EUR 1,526 for assets up to EUR 36 million to EUR 7,631 for those exceeding EUR 727 million and are paid semi-annually in arrears. The regulation applies pro rata for partial-year appointments, allows for supplementary or repayable adjustments, and entered into force on 1 January 2016 with transitional provisions for prior periods.
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