The Financial Market Authority (FMA)’s Executive Board, Mr. Helmut Ettl and Mr. Eduard Müller, manages the service operation and lead business in accordance with the Authority’s legal basis and the Rules of Procedure.
Helmut Ettl was born on August 23, 1965 studied Economics at the Johannes Kepler University in Linz. After completing his alternative service, he worked in various managerial positions for the City of Linz child-welfare services. In 1995, he moved to Vienna and joined the Foreign Research Division of the Oesterreichische Nationalbank (OeNB), his thematic focus being on economic and monetary union. In 2001, he was appointed deputy head of the Banking Analysis and Inspections Division and became its head in 2003. In 2008, Helmut Ettl was appointed as FMA Executive Director. Since 2011 he has been a member of the Board of Supervisors of the European Banking Authority (EBA) and European Systemic Risk Board (ESRB). Between 2008 and 2010 Helmut Ettl was a member of the Committee of European Banking Supervisors (CEBS). His current term as FMA Executive Director runs until 13 February 2028. Since January 2014 Helmut Ettl has been a voting member of the Supervisory Board of the Single Supervisory Mechanism of the European Central Bank (ECB). From April 1, 2019 to March 31, 2020, he was a member of the “Steering Committee” (SC) of the Supervisory Mechanism (SSM) for European banking supervision. Since 2021 he is a Member of the European Banking Authority’s (EBA) Management Board.
Eduard Müller has been Executive Director at the FMA since February 2020. In this function, since September 2020 he is a Member of the Board of Supervisors of the European Securities and Markets Authority (ESMA) as well as a Member of the Single Resolution Board (SRB). In May 2022 he was also elected to the Management Board of ESMA. Prior to assuming his position at the FMA, worked at the Federal Ministry of Finance and the European Commission. In 2013, he was appointed General Manager of the Linde Verlag publishing house, before returning to the Federal Ministry of Finance in 2015 as Head of Section. Between June 2019 and January 2020, he served as Federal Minister of Finance as well as Minister for the Civil Service and Sport. He holds a graduate degree in Economics and a postgraduate MBA.
The FMA is divided into six departments:
- Banking Supervision
- Insurance and Pension Company Supervision
- Securities Supervision
- Integrated Supervision
- Bank Resolution
The two staff divisions “Enforcement and Law” and “Internal Audit” report directly to the Executive Board.
Rules of Procedure
Article 1. The Rules of Procedure of the FMA shall govern:
(1) the organisational structure and the distribution of responsibilities to the FMA’s organisational units (Distribution of Responsibilities);
(2) the FMA’s regulation on representation.
The FMA’s Rules of Procedure of the FMA are available in in German.
Code of Conduct
The Code of Conduct highlights the principles to which employees of the FMA adhere and serves equally as guidance and as a pledge towards the general public.
Pursuant to the legal provisions in the Financial Market Authority Act, the Austrian Financial Market Authority’s bodies consist of the Executive Board and the Supervisory Board. The Supervisory Board consists of eight members, who like the Executive Directors are appointed by the Minister of Finance and the Oesterreichische Nationalbank. The Austrian Economic Chambers (WKO) proposed two additional co-opted members. The Supervisory Board oversees the management of the FMA; for certain undertakings the approval of the Supervisory Board is required.
Chairman: Alfred LEJSEK, Federal Ministry of Finance
Vice-Chairman: Robert HOLZMANN, Governor of the Oesterreichische Nationalbank
- Gabriela DE RAAIJ, Oesterreichische Nationalbank
- Elisabeth GRUBER, Federal Ministry of Finance
- Gottfried HABER, Vice Governor, Oesterreichische Nationalbank
- Beate SCHAFFER, Federal Ministry of Finance
- Karin TURNER-HRDLICKA, Oesterreichische Nationalbank
- Dr. Nadine WIEDERMANN-ONDREJ, Federal Ministry of Finance
- Louis NORMAN-AUDENHOVE, Austrian Association of Insurance Companies
- Franz RUDORFER, Federal Division for Banks and Insurance, Austrian Economic Chambers