Regulatory Alerts2016-07-15
Added · Updated
Employee Categories and Verification Regulation
The Austrian Financial Market Authority mandates specific knowledge and skill categories for credit institution employees advising on or concluding mortgage and property loan agreements. The regulation requires institutions to classify staff according to the nature, scope, and complexity of their loan-based products and maintain up-to-date, demonstrable proof of vocational qualifications and experience. These verification requirements ensure adequate regulatory monitoring through internal guidelines, category-specific employee counts, and documented personnel records.
More like this from FMA
FMA published 1 document in the last 30 days. We email you each new one the day it's published.
Topics
Share