The imposing of financial sanctions intended to prevent the proliferation of weapons of mass destruction (“proliferation”) requires a targeted and separate risk assessment and that obliged entities in the financial sector have the corresponding risk management system in place. The findings of an FMA market analysis that was conducted for the first time this year show that while basic measures are in place at obliged entities for controlling risk, specific requirements in relation to the financing of proliferation are however frequently not addressed in a sufficiently separate manner to general anti-money laundering (AML) measures.
Reden wir über Aufsicht - Proliferation im Fokus (Format: pdf, Size: 233,0 KB, Language: German)
Further information about the prevention of the financing of proliferation can be found on the FMA website.
A new information series for supervised entities
Let’s talk about supervision – is the Austrian Financial Market Authority’s new regular information series for supervised entities. This format is intended for covering new areas of supervision as well as thematic areas where a need for explanation has been detected in the market. Relevant thematically-specific information is intended to be communicated in a quick and easy to understand manner, to create greater clarity as well as contributing towards ensuring that supervisory standards are observed. All editions published to date may be found here (in German only).