You are here: 

Announcement: FMA imposes sanction against European American Investment Bank AG for a breach of the regulations in relation to the suitability of investment services as well as the transparency of costs

Release Date: |
Categories:

The Austrian Financial Market Authority (FMA) hereby announces that it has imposed an additional fine of EUR 52,500 upon European American Investment Bank AG as a legal person for breaches against the Securities Supervision Act 2018 (WAG 2018; Wertpapieraufsichtsgesetz 2018) and Delegated Regulation (EU) for breaching organisational regulations regarding the gathering of customer information as well as the transparency of costs on an ex-ante basis by means of a penal order. The penal order is not legally final.

Update 21.08.2023:

European American Investment Bank AG has submitted an appeal to the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) against the FMA’s penal order.