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FMA Report on Supervision of Capital Markets Prospectuses Q1 2018: the FMA approved 8 prospectuses and 22 supplements.

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The number of prospectuses approved by the Austrian Financial Market Authority (FMA) in the first quarter of 2018 stood at eight, five fewer than in the first quarter of 2018. In addition 22 supplements were approved, which is an increase of three over the corresponding period in the previous year. No approval procedures were closed. The gross issue volume for interest-bearing securities issued by issuers based in Austria stood at € 28.24 billion and was thus € 2.04 billion higher than in the first quarter of 2017 (€ 26.20 bn). 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).

“The fully electronic prospectus approval process introduces as part of the supervisory reform package in 2017 has been a great success, and during the first quarter all approval procedures were submitted and approved using the SEPP (Secure Electronic Prospectus Portal),” remarked the FMA’s Executive Directors, Klaus Kumpfmüller and Helmut Ettl. Since the start of this year, all documents, for example the application for approval of the prospectus, the final prospectus or a supplement to the prospectus, are submitted via the FMA’s prospectus approval portal, and as a result the physical signature, the printing and binding of the prospectuses as well as appearing in person at the FMA are no longer required.

Broken down into various different categories of issuers, the distribution was as follows during the 1st Quarter 2018: IPOs, capital increases and listing prospectuses: 1 (Q1 2017: 4); base prospectuses: 4 (Q1 2017: 4); bonds: 3 (Q1 2017: 3).

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 2018 of 32 prospectuses (Q1 2017: 40) and 164 supplements (Q1 2017: 263). The FMA provided notifications about 2 prospectuses (Q1 2017: 2) and 6 supplements (Q1 2017: 10).

In response to infringements of the Capital Market Act, the FMA imposed six administrative penalties in the first quarter of 2018 (Q1 2017: 2) buy did not report any cases to the public prosecutor’s office (Q1 2017: 1).

The full report can be found on the FMA website (in German only) at:

Journalists may address further enquiries to:

Klaus Grubelnik (FMA Media Spokesperson)

+43/(0)676/882 49 516

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