The Austrian Financial Market Authority (FMA) announces that the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) has upheld the penal ordered imposed by the FMA against the persons responsible of Select INVESTMENT GmbH for a breach against the provisions of the Securities Supervision Act 2018 (WAG 2018) in relation to information requirements towards clients, and has imposed fines ranging between EUR 1,040 and EUR 2,170. The orderly right of appeal was deemed to be inadmissible. The penal orders are legally final.