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Announcement: FMA imposes sanction against Erste Asset Management GmbH as the universal legal successor of ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H. for breaches against the Investment Funds Act of 2011 (InvFG 2011)

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The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of EUR 4,800.00 by way of the accelerated conclusion of proceedings pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz) against Erste Asset Management GmbH as the universal legal successor of ERSTE-SPARINVEST Kapitalanlagegesellschaft m.b.H. for breaches against Article 80 para. 1 (breaching the limit set for the granting of a loan in relation to two jointly owned fund and a special fund) of the Investment Funds Act of 2011 (InvFG 2011).
The penal order is final.

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