Announcement: FMA imposes sanction against the persons responsible of Swiss Life Select Österreich GmbH for a breach against the Securities Supervision Act (WAG 2018)

The Austrian Financial Market Authority (FMA) hereby announces that the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) has upheld the penal orders imposed by the FMA against the persons responsible of Swiss Life Select Österreich GmbH for a breach against the regulations of the Securities Supervision Act 2018 (WAG 2018; Wertpapieraufsichtsgesetz 2018) in relation to information requirements towards clients, and has imposed fines against them of EUR 2,380 respectively. The orderly final right of appeal was declared not to be permissible. The penal orders are final.