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Whistleblower-System

Investment Service Providers

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In accordance with Article 3 para. 2 of the WAG 2007, the following investment services may not be provided commercially without a licence:

  • investment advice relating to financial instruments (no. 1)
  • portfolio management by managing portfolios for individual customers who authorise a certain degree of management discretion, provided that the customer portfolio contains one or several financial instruments (no. 2)
  • receipt and transmission of orders, provided that such activity involves one or several financial instruments (no. 3)
  • operation of a multilateral trading facility (no. 4).

According to Article 1 no. 6 WAG 2007, transferable securities, money market instruments, units in investment funds, in real estate funds or in similar institutions, derivative contracts (particularly options, futures, forwards, swaps) relating to securities, currencies, interest rates, interest income or financial indices, derivative contracts relating to goods, derivatives designed to transfer credit risk, financial margin trading and derivative contracts relating to climate variables, freight rates, emission allowances, inflation rates and official economic statistics are deemed financial instruments.