The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 244,000 against Liechtensteinische Landesbank (Österreich) AG. The reason is for breaches against the Securities Supervision Act 2018 (WAG 2018; Wertpapieraufsichtsgesetz 2018) in conjunction with with rules set out in Delegated Regulation (EU) 2017/565. Liechtensteinische Landesbank (Österreich) AG specifically omitted to determine appropriate policies and procedures for the recommendations of suitable investment services and financial instruments to clients. In addition, it also omitted to determine appropriate training policies and procedures for submission of a legally compliant suitability statement. The penal order is not final.