The FMA commenced operations as the integrated, independent and autonomous supervisory authority for the Austrian financial centre in 2002. Over the intervening two decades the societal, political, economic and technological environment has changed – at times with breath-taking speed. We live in an age of transition. Even issues that initially are barely even noticeable and that appear to be unspectacular are able to develop into epochal changes with serious impacts within a short space of time. As regulators and supervisors we need to identify such developments and challenges quickly and address them efficiently and effectively. To do so, we also need to ask ourselves from time to time about our goals and our values, our organisation, how we work and how we are equipped. The result of this analysis is the FMA Strategy for 2025 published here. This strategy is being pursued as part of the FMA’s transformation programme “Fit for Future FMA – 2025”. Its objective is an FMA as an authority that thinks and acts transformationally, has its finger on the pulse, and that proactively shapes issues as they emerge.