You are here: 

Announcement: FMA imposes sanction against Western Union International Bank GmbH for a breach of regulations in connection with the drawing up of key information documents for packaged retail and insurance-based investment products (PRIIP-KIDs)

Release Date: |

The Austrian Financial Market Authority (FMA) hereby announces that it has imposed a fine of EUR 50,000 by means of a penal order by way of the accelerated conclusion of proceedings pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz against Western Union International Bank GmbH as a legal person for breaches against the PRIIP Regulation, the PRIIP Delegated Regulation and the PRIIP Enforcement Act, in particular due to the lack of appropriate processes regarding key information documents (PRIIP-KIDs) as well as the deficient presentation of the contents regarding key information documents.

Next news entry: »