Pursuant to section 92 para 11 of the Wertpapieraufsichtsgesetz 2007 (WAG; Securities Supervision Act) and pursuant to section 4 para 7 of the Bankwesengesetz (BWG; Austrian Banking Act), Austria’s Financial Market Authority (FMA) has the right to inform the general public, in individual cases by way of announcement on the Internet, in the official gazette “Amtsblatt zur Wiener Zeitung” or any other official paper with nationwide circulation, that a particular company is not entitled to provide certain investment services (section 3 para 2 nos. 1 to 3 WAG 2007) and banking services (section 1 para 1 no. 7 BWG – dealing for own or other than own account in foreign means of payment, money market instruments, financial futures contracts, forward interest rate agreements and securities).
By publication in the official gazette “Amtsblatt zur Wiener Zeitung” of 28 May 2008, the FMA is exercising this right and warns against financial service transactions requiring a licence with the following provider:
International Forex Services
with its alleged head office at
Schwarzenbergplatz 18
1010 Vienna
Austria
www.internationalforexservices.com
This provider does not possess a licence issued by the FMA to provide investment and banking services. Therefore, they are neither allowed to provide investment advice regarding financial instruments, nor portfolio management by managing portfolios for individual customers who authorise a certain degree of management discretion, provided that the customer portfolio contains one or several financial instruments. Furthermore, the provider is not entitled to accept or transmit transactions, provided that such activities involve one or several financial instruments. The provider is also not entitled to deal for own or other than own account in foreign means of payment, money market instruments, financial futures contracts, forward interest rate agreements and securities, unless such trading is conducted in private assets.