Announcement: FMA imposes sanction against BMW Austria Bank GmbH for a breach against the Austrian Banking Act (BWG)
The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of € 3,000 against BMW Austria Bank GmbH for breaches against the provisions of Article 44 para. 1 Austria Banking Act (BWG; Bankwesengesetz) in conjunction with Article 98 para. 2 no. 11 BWG in conjunction with Article 99d BWG. The financial reports, in particular the audited annual financial statement with balance sheet date of 31.12.2015 were submitted with delays. The penal order is final.