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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.

The following list contains only those FMA Circulars for which an English translation exists. For an exhaustive list of all currently applicable FMA Circulars, please consult the German version of this page.

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
07/2018 FMA Circular regarding the organisational requirements of the Securities Supervision Act 2018 and Delegated Regulation (EU) 2017/565

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11.09.2018Conduct & Compliance
FMA Circulars
05/2018 FMA Circular on Personal Transactions by Employees with Financial Instruments pursuant to Article 28 et seq MiFID II Delegated Regulation (EU) 2017/565

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29.06.2018Conduct & Compliance
FMA Circulars
04/2018 AOBA and FMA Circular on Specific issues in relation to Regulation (EU) No 537/2014 regarding the appointment of statutory auditors at public-interest entities (PIEs)

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13.04.2018Banks
Insurance Undertakings
FMA Circulars
02/2018 FMA Circular on Key Information Documents for Packaged Retail and Insurance based Investment Products (PRIIPs)

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20.02.2018Banks
Insurance Undertakings
AIFs
UCITS
Conduct & Compliance
FMA Circulars
01/2018 FMA Circular regarding Article 39 para. 2, Article 39b and Article 39c BWG - Principles of Rumuneration Policies and Practices

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18.01.2018Banks
FMA Circulars
02/2017 FMA Circular on the Criteria for the Assessment of Knowledge and Competence of Investment Advisors and Persons providing Information about Investment Products (Article 55 WAG 2018)

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21.08.2017Conduct & Compliance
FMA Circulars
01/2017 FMA Circular on the assumed interest rate for health insurance similar to life assurance (VAG 2016)

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12.07.2017Insurance Undertakings
FMA Circulars
02/2014 FMA Circular 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
02/2013 FMA Circular concerning the administration of pension company commitments in investment and risk sharing groups pursuant to Article 12 para. 6 PKG01.04.2013Pension Companies
FMA Circulars
01/2013 FMA Circular concerning parallel pension products01.04.2013Pension Companies
Insurance Undertakings
FMA Circulars
05/2012 FMA Circular regarding backdating of insurance contracts (VAG 1978)06.11.2012Insurance Undertakings
FMA Circulars
04/2012 FMA Circular on unisex calculation bases (VAG 1978)01.10.2012Insurance Undertakings
FMA Circulars
01/2012 FMA Circular on the Anti-Money Laundering Officer24.04.2012Prevention of Money Laundering & Terrorism Funding
FMA Circulars
05/2011 FMA Circular on Identification and Verification of Identity for Credit Institutions01.12.2011Prevention of Money Laundering & Terrorism Funding
FMA Circulars
06/2011 FMA Circular on the Transmission of Payer information01.12.2011Prevention of Money Laundering & Terrorism Funding
FMA Circulars
07/2011 FMA Circular on Identification and Verification of Identity for Insurance Untertakings01.12.2011Prevention of Money Laundering & Terrorism Funding
FMA Circulars
08/2011 FMA Circular on Suspicious Transaction Reports01.12.2011Prevention of Money Laundering & Terrorism Funding
FMA Circulars
02/2008 FMA Circular concerning the activity of insurance undertakings as tied agents pursuant to Article 28 WAG 2007 (VAG 1978)27.06.2008Insurance Undertakings
FMA Circulars
01/2006 FMA Circular concerning the Differentiation of participation in profits among shares in the pension insurance portfolio & specifically for so-called “bonus annuities” & Benefits in the event of death for unit-linked & index-linked life assurance

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12.12.2006Insurance Undertakings
FMA Circulars
06/2005 FMA Circular concerning the changes in the regulations for auditing insurance undertakings (VAG 1978)

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10.11.2005Insurance Undertakings
FMA Circulars
07/2005 FMA Circular concerning overfunding in unit-linked life assurance (VAG 1978)

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10.11.2005Insurance Undertakings
FMA Circulars
05/2005 FMA Circular concerning negative risk premiums (VAG 1978)

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29.07.2005Insurance Undertakings
FMA Circulars
02/2005 FMA Circular concerning negative Risk Premiums

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01.02.2005Pension Companies
FMA Circulars
01/2005 FMA Circular concerning rate adjustments in health insurance operated according to the technical principles of life assurance (VAG 1978)

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04.01.2005Insurance Undertakings
FMA Circulars
02/2004 FMA Circular concerning the Professional qualification of the responsible actuary or deputy (VAG 1978)

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13.12.2004Insurance Undertakings
FMA Circulars
01/2004 FMA Circular regarding the conclusion of liability insurance for statutory auditors pursuant to Article 82 para. 1 no. 2 VAG (VAG 1978)30.06.2004Insurance Undertakings
FMA Circulars
03/2003 FMA Circular concerning Balance Sheet Issues related to the Insurance Pool for the Coverage of Terrorist Risks (VAG 1978)

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05.12.2003Insurance Undertakings
FMA Circulars
02/2003 FMA Circular concerning Requirements for the responsible actuary with regard to the state-sponsored retirement provision pursuant to Articles 108g to 108i VAG (VAG 1978)

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12.09.2003Insurance Undertakings
FMA Circulars
01/2003 FMA Circular concerning detailed Explanations of the Requirements for the Internal Model and the Independent Expert pursuant to Article 18 para. 1a VAG (VAG 1978)

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31.07.2003Insurance Undertakings
FMA Circulars