The FMA is obliged to conduct public consultation procedures for drafts of Regulations, Circulars, Guidelines and Minimum Standards from 3 January 2018 pursuant to Article 22 para. 3a of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz). This is in accordance with the administrative practices previously conducted voluntarily by the FMA. The consultations are intended to increase the transparency of administrative legislation, while also strengthening the mutual expert dialogue between the FMA and the entities that are supervised by it and other interested persons.
What has, however, changed in comparison with practices to date, is that from 3.1.2018 within a public consultation procedure, the opinions received from supervised entities and other interested persons are to be published permanently on the FMA website.
Information about the FMA’s ongoing consultation procedures can be found on the FMA website (in German only) under the section Recht/FMA/FMA-Konsultationen. In the future you will also be able to consult the received opinions on this page. For this purpose this page will also contain an archive of consultation procedures concluded after 3.1.2018.