The Austrian Financial Market Authority (FMA) has imposed fines of EUR 4,000 respectively against the persons responsible of Oberösterreichische Versicherung AG. The proceedings were concluded in an accelerated manner pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz). Specifically, in contravention of Article 9(2) of Regulation (EU) No 260/2012, Oberösterreichische Versicherung AG had prescribed the Member State in which a payer was required to hold an account. The rule in Article 9 (2) of Regulation (EU) No 260/2012 is intended to contribute towards the orderly functioning of the internal market for payments. The penal orders are final.