The number of prospectuses approved by the Austrian Financial Market Authority (FMA) in the first quarter of 2017 stood at thirteen, two more than in the first quarter of 2016. In addition 19 supplements were approved, which is an increase of six over the corresponding period in the previous year. No approval procedures were closed. The gross issue volume for interest-bearing securities stood at € 25.14 billion and was therefore 6.85% less than in the 1st Quarter of 2016 (Q1 2016: € 26.99 billion). These findings have emerged from the Quarterly Report on the Supervision of Capital Market Prospectuses, which was published today by the Austrian Financial Market Authority (FMA).
Broken down into various different categories of issuers, the distribution was as follows during the 1st Quarter of 2017: IPOs, capital increases and listing prospectuses: 4 (Q1 2016: 1), housing finance banks: 1 (Q1 2016: 1), base prospectuses: 4 Q1 2014: 6) and bonds: 3 (Q1 2016: 2).
The submission of a notification to the respective competent national authority is a condition for being allowed to use a prospectus or a supplement in another EEA Member State. Partner authorities notified the FMA in the first quarter 2017 of 40 prospectuses (Q1 2016: 49) and 263 supplements (Q1 2016: 273). The FMA provided notifications about 2 prospectuses (Q1 2016: 5) and 10 supplements (Q1 2016: 9).
In response to infringements of the Capital Market Act, the FMA imposed one administrative penalty in the first quarter 2017 (Q1 2016: 1), reported one case to the public prosecutor’s office (Q1 2016: 0), and published one sanction on the FMA website.
The full quarterly report can be found (in German only) on the FMA website
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