The Austrian Financial Market Authority (FMA) welcomes Meinl Bank’s decision to appoint a new executive director to replace Peter Weinzierl. In so doing Meinl Bank again has two executive directors who meet the fit and proper requirements specified in the Austrian Banking Act (BWG) and has responded to the regulator’s requirements. The supervisory procedure has therefore been closed. The Federal Administrative Court set aside the FMA’s administrative decision only for procedural reasons, while no ruling was handed down on the content of the decision.
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Annemarie Bauer
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