The Austrian Financial Market Authority (FMA) announces that an administrative decision was issued on 01.08.2024 pursuant to Article 70 para. 4 no. 2 in conjunction with Article 44 para. 1 of the Austrian Bank Act (BWG; Bankwesengesetz) against EUROPEAN AMERICAN INVESTMENT BANK AKTIENGESELLSCHAFT (Euram Bank). In this administrative decision dated 01.08.2024, firstly a previously threatened coercive penalty of € 30,000 was enforced, and secondly the bank was again instructed to establish legal compliance, and specifically to submit the documents in relation to the audited annual financial statements for 2023 to the FMA and to the Oesterreichische Nationalbank (OeNB), which have been overdue since 01.07.2024.
In administrative decisions dated 03.07.2024 and 16.07.2024 respectively, the FMA had already instructed Euram Bank under threat of a coercive penalty and also setting a deadline for doing so, to submit the overdue documents in relation to its annual financial statements for 2023. Since the documents had not been received by 31.07.2024, it was necessary to issue a third official measure.
The administrative decision dated 03.07.2024 became legally final on 01.08.2024. The respective administrative decisions dated 16.07.2024 and 01.08.2024 are not legally final.