The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of EUR 5,000.00 by means of a penal order against the media owner of the website www.pfand-kredit.at for misleading advertising pursuant to Article 4 para. 3 KMG as well as for missing prospectus information pursuant to Article 4 para. 2 KMG, both in relation to the public offering of qualified subordinated loans by GoLending AT GmbH. The penal order is not final.
An appeal has been submitted to the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) against the FMA’s penal order.
Update 18.12.2019:
In its decision of 13.12.2019, the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) ruled in relation to the Appeal against the fine. The imposed fine was reduced to EUR 1,100.00. An orderly final right of appeal was declared not to be permissible.