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The following statements refer on the one hand to typical phenomena of commercial life and should be considered to be the basic legal view of the Austrian Financial Market Authority (FMA). However, a conclusive and legally binding assessment of a licencing-based or prospectus issue is remains restricted to the specific individual case.
Advice about specific business models and their design is reserved for persons from professions providing advisory services, such as e.g. lawyers. The Financial Market Authority (FMA) is therefore unable to provide advisory services. Enquiries from lawyers to the Financial Market Authority (FMA) will only be handled where information about the particular client in question is supplied.
The Financial Market Authority (FMA) is not the competent authority for the enforcement of the Alternative Financing Act (AltFG; Alternativfinanzierungsgesetz), this competence being held by the local administrative authorities.
The local administrative authorities are also responsible for the enforcement of the relevant provisions in the Commercial Code (GewO; Gewerbeordnung) regarding the activities of insurance mediation by insurance agents and insurance brokers as well as commercial financial advisers.