Regulatory Alerts2026-05-12
ESG Ratings Regulation Enforcement Act
The Austrian Federal Minister of Finance issued this Act to implement EU Regulation 2024/3005, designating the Financial Market Authority (FMA) as the national competent authority for monitoring ESG rating activities. The FMA is granted specific powers to conduct on-site inspections, request information, and enforce administrative fines imposed by ESMA against non-compliant rating providers. The legislation establishes mandatory cooperation and information exchange protocols with ESMA and other EU regulators, while codifying professional secrecy rules for shared data.
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