The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of EUR 10,000.00 by means of a penal order, against a person responsible at the time of the offence being committed pursuant to Article 9 para. 1 VStG of GoLending AT GmbH for misleading advertising in conjunction with the public offering of qualified subordinated loans by the company pursuant to Article 4 para. 3 KMG as well as breaches of prospectus provisions pursuant to Article 7 paras. 1 and 8 in conjunction with Annex C point 12 KMG. The penal order is not final.
Update 06.11.2019:
An appeal has been submitted to the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) against the penal order issued by the FMA.
Update 04.08.2020:
The Federal Administrative Court has decided in its ruling of 16.06.2020 about the appeal of the person responsible of GoLending AT GmbH at the time of the offence occurring pursuant to Article 9 para. 1 of the Administrative Penal Act (VStG; Verwaltungsstrafgesetz): 1. The appeal about misleading publicity in relation to the public offering of a qualified subordinated loan by the company pursuant to Article 4 para. 3 KMG was rejected and the FMA’s penal order was confirmed regarding this point. 2. Regarding the breach against the prospectus law provisions pursuant to Article 7 paras. 1 and 8 in connection with Annex C point 12 KMG, the appeal was granted and the FMA’s penal order overturned. The fine was reduced to EUR 7,000.00. The orderly final right of appeal was declared not to be permissible. The penal order is final.