The Austrian Financial Market Authority (FMA) hereby announces that the penal order issued by the FMA against the person responsible of the Oberbank AG at the time of the breaches occurring for breaches against the due diligence obligations set forth in Articles 20 and 24 of the Securities Supervision Act (WAG 2007) has been confirmed by the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) in terms of the issue of guilt. The imposed fine was reduced from € 5,000 to € 4,000. The person responsible at Oberbank AG had omitted to take adequate precautions as defined in Articles 20 and 24 of the Securities Supervision Act (WAG 2007).
The Federal Administrative Court (BVwG) has declared the final right of appeal pursuant to Article 133 para. 4 of the Federal Constitutional Act (B-VG; Bundes-Verfassungsgesetz) to be admissible. The penal order is final.