The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 16,100 on Swiss Life Select Österreich GmbH as the legal successor of Select INVESTMENT GmbH. Proceedings were concluded under the accelerated conclusion of proceedings pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz. The sanction is due to breaches by Select INVESTMENT GmbH of the Securities Supervision Act 2018 (WAG 2018; Wertpapieraufsichtsgesetz 2018) and the Delegated Regulation (EU) 2017/565 supplementing Directive 2014/65/EU (MiFID II). Firstly Select INVESTMENT GmbH breached documentation obligations in the case of a employee being posted to a third party. Secondly, in the case of one client, it failed to act in the client’s best interests. The penal order is final.