Legal queries about FinTech models
Would you like to operate a FinTech or use new technologies and have a specific question relating to supervisory law? The FMA strives to handle your enquiry as rapidly as possible. We are the central point of contact within the FMA for FinTech issues with the various departments within the authority about licencing requirements, the requirement to publish a prospectus, compliance or anti-money laundering regulations, how FMA procedures are conducted and costs incurred. This is only possible if you explain about your business model in detail. It is not intended to replace being given legal advice, but is intended to provide feedback about supervisory law in relation to your specific intention.
- This contact form is intended for persons and companies that do not hold licences. Entities that already hold licences are requested to direct their enquiry to their respective contacts (to their SPOC in the case of institutions, or the competent division within the Insurance Supervision department for insurance companies).
- Prior to contacting us, please use the individual sections in the FinTech Navigator for guidance. The contact form contains a self-assessment.
- Advice about specific business models and their design is reserved for persons from professions providing advisory services, such as e.g. lawyers. The FMA is therefore unable to provide advisory services.
- Enquiries from professions providing advisory services may only be answered following disclosure of the brief and if accompanied by a statement containing the submitting party’s own legal appraisal.
- Abstract legal enquiries cannot be answered by the FMA. You are therefore requested to address a specific set of circumstances of a planned business model.
- Please explain about your business model including all involved cooperation partners and also submit the relevant documentation (sample contracts, general terms and conditions, information brochures etc.). Please explain as applicable what part of your business model may in your opinion require a licence or the publication of a prospectus, or why you believe this not to be the case.
- Please note the provision of business operations that require licences without the requisite licences is punishable under administrative penal law. The same applies for the authorised performing of activities that are regulated by the Commercial Code (Gewerbeordnung), (such as insurance intermediation or providing commercial investment advice). A breach of the requirements to publish a prospectus is even subject to criminal sanctions. Please therefore in all cases enquire before commencing the conducting of your business activity.
- The 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 same applies for the enforcement of the relevant provisions in the Commercial Code (GewO – Gewerbeordnung) regarding the activities of insurance intermediation by insurance agents and insurance brokers as well as commercial financial advisers.
The contact form can be opened via this link or can be filled out directly here: