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Announcement: FMA imposes sanction against Erste Bank der oesterreichischen Sparkassen AG for a breach of organisational regulations in relation to appropriate information for clients

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The Austrian Financial Market Authority (FMA) announces that it has imposed a fine of EUR 89,600 against Erste Bank der oesterreichischen Sparkassen AG as a legal person for a breach against the Securities Supervision Act (WAG 2018; Wertpapieraufsichtsgesetz) and Delegated Regulation (EU) 2017/565 for a breach of the organisational regulations in relation to obligation to make appropriate information available to clients of its digital asset management offering (“Invest Manager” within the scope of using its Internet banking offering) on a durable medium, under the accelerated conclusion of proceedings pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz). The penal order is final.

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