ANNOUNCEMENT
The FMA warns against offerings by
Arcano Vermögens-Austauschgruppe
This provider is not authorised to carry out banking transactions or investment service business in Austria that require a licence. The provider is therefore neither authorised to accept funds from other parties for management (Article 1 para. 1 no. 1 first instance of the Austrian Banking Act (BWG; Bankwesengesetz)) nor to provide investment advice in accordance with Article 3 para. 2 no. 1 of the Supervision Act 2018 (WAG 2018; Wertpapieraufsichtsgesetz 2018), nor to execute orders on behalf of clients pursuant to Article 3 para. 2 no. 6 WAG 2018.
We advise that there is a risk of confusion with another supervised provider.
The basis for this publication is Article 4 para. 7 of the Austrian Banking Act (BWG; Bankwesengesetz) as well as Article 92 para. 11 WAG 2018.
Anyone providing banking services, and financial and securities services in Austria, requires the necessary authorisation or licence to do so from the Austrian Financial Market Authority (FMA). Some undertakings offer such services without holding the necessary authorisation. Information about whether a specific undertaking has been authorised/licensed by the FMA, can be found in the FMA Company Database.