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MiFID II is an EU legal framework that has been transposed into Austrian law by the Securities Supervision Act 2018 (WAG 2018; Wertpapieraufsichtsgesetz 2018) that entered into force on 3 January 2018. The new rules are intended to significantly improve investor protection. The new Securities Supervision Act 2018 is intended to make investment advice more transparent and thereby to improve the quality of the investment advice. The new rules are intended for credit institutions and other undertakings (e.g. investment firms), that provide services in relation with securities and funds and other financial instruments. The following contribution provides an overview about the more important developments.