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Announcement: FMA imposes sanctions against two management board members of a credit Institution for breaches against the Banking Act (BWG; Bankwesengesetz)

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The Austrian Financial Market Authority (FMA) announces that it has imposed fines of EUR 3,000.00 each against two management board members of a credit institution pursuant to Article 44 para. 1 in conjunction with Article 98 para. 2 no. 11 BWG for the delayed Submission of reports, in particular the audited financial Statements with the Balance sheet reporting date of 31.12.2015. The penal orders are final.

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