Pursuant to Article 24 para 6 of the Wertpapieraufsichtsgesetz (WAG; Austrian
Securities Supervision Act) the Austrian Financial Market Authority (FMA) is entitled
to inform the general public by publication in an official bulletin published nationwide
that a particular company is not authorized to provide certain financial services (as
stipulated in Section 1 para 1 no. 19 of the Bankwesengesetz (BWG; Austrian
Banking Act)).
With the announcement in the official gazette “Amtsblatt zur Wiener Zeitung” on
10 March 2004 the FMA makes use of its right and warns against doing any financial
services business with the following company
Austrian Trader AG
alleged location at
A-1040 Vienna, Austria
Philharmoniker Strasse 14 or 34
Website:
www.austrian-trader.com
The company is not authorized by the FMA. Therefore it is not entitled to provide
investment advice concerning client funds, to manage client portfolios in accordance
with mandates given by investors or to broker business opportunities for the
acquisition or sale of certain financial instruments.
The aforementioned company is operating by means of the Internet; it states a
fictitious address and misuses the names of prominent figures as well as data of
established institutions in order to create an air of respectability. This action by the
FMA is a result of several hints as well as complaints by investors in Austria and
abroad.