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Announcement: FMA imposes sanction against Kurt Üblacker for unauthorised deposit-taking business

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A fine of € 30,000 was imposed upon Kurt Üblacker for unauthorised deposit-taking business in an administrative decision dated 18.05.2022.

Pursuant to Article 22c para. 1 no. 2 of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz), the Austrian Financial Market Authority (FMA) may in imposing a sanction that has been imposed as a result of breaches of among other provisions Article 98 para. 1a of the Austrian Banking Act (BWG; Bankwesengesetz), disclose the name of the persons or entities upon whom a sanction has been imposed, as well as information about the sanction imposed.

The FMA therefore announces that a penal order with a fine of € 30,000 in total was imposed against Kurt Üblacker as person responsible at the time of the offence occurring of Üblacker Handels GmbH with its registered office in Winklarn, for a breach against Article 98 para. 1a BWG in conjunction with Article 1 para. 1 no. 1 first case BWG (receiving of funds from other parties for the purpose of management). The penal order is not yet final.

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