Pursuant to Article 92 para. 11 first sentence of the Wertpapieraufsichtsgesetz 2018 (WAG 2018; Securities Supervision Act 2018) or Article 4 para. 7 of the Bankwesengesetz (BWG; Banking Act), the Austrian Financial Market Authority (FMA) may inform the general public that a particular named natural or legal entity is not authorised to carry out certain investment services transactions (Article 3 para. 2 nos. 1 to 4 WAG 2018) or banking transactions (Article 1 para. 1 BWG), provided that the said person has given cause for such action and informing the general public is deemed necessary and reasonable with regard to possible disadvantages of the person concerned.
By publication in the official gazette “Amtsblatt zur Wiener Zeitung” on 20.02.2020, the FMA hereby informs that
BIC Asset Management
International Plaza, 10 Anson Road, 079903, Singapore
as well as
32F Tower 1, Millenium City, Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong
is not authorised to carry out investment services or banking transactions in Austria that require a licence. The provider is therefore neither permitted to conduct investment advice on a commercial basis in relation to financial instruments (Article 3 para. 2 no. 1 WAG 2018) nor to trade on a commercial basis on its own account or on behalf of others (Article 1 para. 1 no. 7 BWG)