The number of prospectuses approved by the Austrian Financial Market Authority (FMA) in the first quarter of 2015 amounted to 15, a decline by ten compared with the same quarter of 2014. This 40% decline is mainly due to the fact that housing banks have changed their issuing activity to base prospectuses, as a result of which the number of prospectuses to be approved dropped from 17 (Q1 2014) to four (Q1 2015). In contrast, the approved prospectuses involved a surge in the number of final terms filed (+60%), i.e. from 1 515 in the first quarter of 2014 to 2 428 in the first quarter of 2015. The FMA also approved 49 supplements (Q4 2014: 44), representing an increase of approximately 11.5%. These figures were disclosed in the Report on Austrian Supervision of Capital Market Prospectuses, published today by the FMA.
When broken down according to the various categories of issuers, approvals in Q1 2015 were distributed as follows (with the figures for Q1 2014 in parentheses): IPOs, capital increases and listing prospectuses 1 (1), housing banks 3 (7), base prospectuses 7 (4) and bonds 2 (2). In order to use a prospectus or a supplement in another EEA Member State, a notification must first be sent to the national competent authority of the particular country. In the first quarter of this year partner authorities notified the FMA of 51 prospectuses (55) and 214 supplements (316). The FMA provided notification of six prospectuses (4) and 14 supplements (20). In response to infringements of the Capital Market Act (KMG), the FMA imposed eight administrative penalties (1) and reported two cases to the public prosecutor’s office (7) in the first quarter of 2015. You can find the full Quarterly Report (in German) on the FMA website at:
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-6006
+43/(0)676/882 49 516