The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of € 19,000.00 for breaches of provisions in the Securities Supervision Act 2007 (WAG 2007; Wertpapieraufsichtsgesetz 2007) against the responsible agent of the Erste Bank der österreichischen Sparkassen AG at the time the breach occurred.
The credit institution, in contravention of Article 17 para. 3 of the Securities Supervision Act 2007 (WAG 2007; Wertpapieraufsichtsgesetz 2007), did not take adequate precautions in conjunction with the closure of Brokerjet Bank AG in order to ensure the continuity and regularity of investment services and activities for clients affected by the closing of their securities portfolios. The Securities Supervision Act 2007 (WAG 2007; Wertpapieraufsichtsgesetz 2007) does not provide for the punishment of the legal person. The penal order is not final.
Update: 21.09.2017
The penal order is final.