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FMA Circulars

The FMA uses circulars to publish its interpretation of the legal position derived from laws or regulations in relation to supervisory issues. Circulars are used to inform the public about particular requirements that, in the FMA’s opinion, can be derived from legal interpretation of the relevant laws or regulations.

All English translation of the authentic German text is unofficial and serves merely information purposes. The official wording in German can be found at the web pages of the Austrian Financial Market Authority (FMA). All translations have been prepared with great care, but linguistic compromises had to be made. The reader should also bear in mind that some content of soft law like Minimum Standards, Circulars, Rules of Conduct and Compliance und Supervisory Disclosure will remain unclear without certain background knowledge of the Austrian legal and political system. Please note that both the authentic German and the translated text may be amended in future and check occasionally for updates.

Table: FMA Circulars
TitleRelease DateCategory
VAG 2016: Circular Letter on the assumed interest rate for health insurance similar to life assurance

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12.07.2017Insurance Undertakings
FMA Circulars
VAG 2016: Circular Letter on the assumed interest rate for health insurance similar to life assurance01.10.2015Insurance Undertakings
FMA Circulars
Circular Letter on the auditing actuary’s report, as referred to in Article 20 para. 4 PKG and to be attached to applications for the approval of business plans01.08.2014Pension Companies
FMA Circulars
Circular letter on the problem of conflicts of interest in relation to certain systems of remuneration

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02.04.2014Conduct & Compliance
FMA Circulars
Circular Letter concerning parallel pension products01.04.2013Pension Companies
Insurance Undertakings
FMA Circulars
Circular Letter concerning the administration of pension company commitments in investment and risk sharing groups pursuant to Article 12 para. 6 PKG01.01.2013Pension Companies
FMA Circulars
VAG 1978: Circular letter regarding backdating of insurance contracts06.11.2012Insurance Undertakings
FMA Circulars
VAG 1978: Circular Letter of the FMA on the adjustment of amounts pursuant to Article 73f paras. 2 and 3 as well as Annex D Section A no. 1 VAG as from 1 January 201323.10.2012Insurance Undertakings
FMA Circulars
VAG 1978: Circular letter on unisex calculation bases01.10.2012Insurance Undertakings
FMA Circulars
Circular on Anti-Money Laundering Officer24.04.2012Prevention of Money Laundering & Terrorism Funding
FMA Circulars
Circular on the risk sensitive approach01.12.2011Prevention of Money Laundering & Terrorism Funding
FMA Circulars
Circular on Identification and Verification of Identity for Insurance Untertakings01.12.2011Prevention of Money Laundering & Terrorism Funding
FMA Circulars
Circular on Identification and Verification of Identity for Credit Institutions01.12.2011Prevention of Money Laundering & Terrorism Funding
FMA Circulars
Circular on the Transmission of Payer information01.12.2011Prevention of Money Laundering & Terrorism Funding
FMA Circulars
Circular on Suspicious Transaction Reports01.12.2011Prevention of Money Laundering & Terrorism Funding
FMA Circulars
Circular letter of the FMA concerning information including marketing communications pursuant to the WAG 2007

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02.05.2011Conduct & Compliance
FMA Circulars
Circular Letter of the FMA on capital-guaranteed financial instruments

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15.01.2010Conduct & Compliance
FMA Circulars
Circular letter concerning the signature requirements pursuant to Article 21 para. 8 and Article 30a PKG

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02.09.2008Pension Companies
FMA Circulars
VAG 1978: Circular Letter concerning the activity of insurance undertakings27.06.2008Insurance Undertakings
FMA Circulars
VAG 1978: CL concerning the Differentiation of participation in profits among shares in the pension insurance portfolio and specifically for so-called “bonus annuities” and Benefits in the event of death for unit-linked and index-linked life assurance

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12.12.2006Insurance Undertakings
FMA Circulars
VAG 1978: Circular letter concerning negative risk premiums

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10.11.2005Insurance Undertakings
FMA Circulars
VAG 1978: Circular letter concerning the changes in the regulations for auditing insurance undertakings

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10.11.2005Insurance Undertakings
FMA Circulars
VAG 1978: Circular letter concerning overfunding in unit-linked life assurance

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10.11.2005Insurance Undertakings
FMA Circulars
Circular letter concerning negative Risk Premiums

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01.02.2005Pension Companies
FMA Circulars
VAG 1978: Circular letter concerning Rate adjustments in health insurance operated according to the technical principles of life assurance

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04.01.2005Insurance Undertakings
FMA Circulars
VAG 1978: Circular Letter on Control Procedures and Suspicious Transaction Reports in connection with Money Laundering and Terrorist Financing16.12.2004Insurance Undertakings
FMA Circulars
VAG 1978: Circular letter concerning the Professional qualification of the responsible actuary or deputy

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13.12.2004Insurance Undertakings
FMA Circulars
VAG 1978: Circular letter regarding the conclusion of liability insurance for statutory auditors pursuant to Article 82 para. 1 no. 2 VAG30.06.2004Insurance Undertakings
FMA Circulars
VAG 1978: Circular letter concerning Balance Sheet Issues related to the Insurance Pool for the Coverage of Terrorist Risks

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05.12.2003Insurance Undertakings
FMA Circulars
VAG 1978: Cirular letter concerning Requirements for the responsible actuary with regard to the state-sponsored retirement provision pursuant to Articles 108g to 108i VAG

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12.09.2003Insurance Undertakings
FMA Circulars
VAG 1978: Circular letter concerning detailed Explanations of the Requirements for the Internal Model and the Independent Expert puruant to Article 18 para. 1a VAG

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31.07.2003Insurance Undertakings
FMA Circulars
Financial Analysis in Connection with the Interpretation of Article 48f BörseG

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Conduct & Compliance
FMA Circulars
Circular letter of the FMA of 19 June 2013 on Reporting and Disclosure Requirements for Issuers

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Stock Exchanges & Markets
FMA Circulars