On 22 July 2013 the legislative authorities vested the Austrian Financial Market Authority (FMA) pursuant to the Alternative Investment Fund Managers Act (AIFMG) with the supervision of Alternative Investment Fund Managers (AIFM). In order to ensure that it can efficiently and effectively fulfil this legal remit, the FMA is entering into cooperation agreements and agreements to exchange information, i.e. Memoranda of Understanding (MoU), with its sister authorities in all important third countries outside the European Union. Ten such MoUs have already been signed and are therefore applicable, while five additional ones are in the final negotiation stage. For a current list of MoUs, please refer to the FMA’s website at: https://www.fma.gv.at/en/the-financial-market-authoritys-cooperation-with-the-european-supervisory-authorities-and-sister-supervisory-authorities/
These agreements on cooperation and exchange of information guarantee that AIFMs are extensively supervised, and also allow Austrian AIFMs to work across borders outside the EU. The MoUs enable companies to transfer portfolio or risk management to a company in a third country, and to appoint third-country depositaries for foreign alternative investment funds (AIF) that are managed by Austrian AIFMs. In addition, Austrian AIFMs can also manage and sell AIFs in third countries.
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-5106
+43/(0)676/882 49 516