Pursuant to Article 24 para 6 of the Wertpapieraufsichtsgesetz (WAG; Austrian Securities Supervision Act) the Austrian Financial Market Authority (FMA) is entitled to inform the general public by publication in an official bulletin published nationwide that a particular company is not authorized to provide certain financial services (as stipulated in Section 1 para 1 no. 19 of the Bankwesengesetz (BWG; Austrian Banking Act)).
With the announcement in the official gazette “Amtsblatt zur Wiener Zeitung” on
15 December 2004 the FMA makes use of its right and informs that
Private Fiduciary Trust GmbH –
location at
A 1010 Vienna
An der Hülben 1
is not authorized by the FMA. Therefore it is not entitled to provide investment advice concerning client funds, to manage client portfolios in accordance with mandates given by investors or to broker business opportunities for the acquisition or sale of certain financial instruments.
This action by the FMA comes as a result of several hints and complaints by investors in Austria.