Following investigation procedures in April 2012, an administrative decision was issued to Alizee Bank AG, ordering the bank to restore compliance with statutory provisions specifying fit and proper ownership. In the appeals filed with the Administrative Court and the Constitutional Court, the bank made a submission explaining for the first time the grounds for not being able to comply with this order. Due to this later submission by the bank, the FMA had to revoke the administrative decision. Now that this has taken place, the FMA can initiate a procedure as specified in Article 70 para. 4 no. 3 of the Bankwesengesetz (BWG; Banking Act) to verify fulfilment of licensing requirements. This would include revoking the granted license as a last resort if other measures specified in the BWG are not sufficient to guarantee the ability of the credit institution to function.
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43 (0)1 24959 5106
+43 (0)676 882 49 516