Pursuant to section 24 para 6 of the Wertpapieraufsichtsgesetz (WAG; Securities Supervision Act), Austria’s Financial Market Authority (FMA) has the right – by way of publication in an official bulletin with nationwide circulation – to inform the general public of the fact that a particular company is not entitled to provide certain financial services (section 1 para 1 no. 19 of the Bankwesengesetz (BWG; Austrian Banking Act)).
By publication in the official gazette “Amtsblatt zur Wiener Zeitung” of 6 September 2007, the FMA is exercising this right and warns against financial service transactions requiring a licence with the following provider:
Indices International Group IIG
with its alleged head office at
Franz Josef Straße 15
This provider does not possess a licence issued by the FMA. They are therefore neither allowed to offer services such as advising clients on investing funds, nor to manage client portfolios in accordance with mandates given by investors, nor to broker business opportunities for the acquisition or sale of certain financial instruments.