The Austrian Financial Market Authority (FMA) approved 11 capital market prospectuses during the 4th quarter of 2019 three less than in the 4th quarter of 2018 (-21.4%). Since 21 July 2019 prospectus law permits the drawing up of multi-part base prospectuses, with more than half of the cases (6) making use of this option. The supplements approved by the FMA during the 4th quarter 2019 fell from 19 to 15 (-21.1%) compared to the 4th quarter of 2018. The number of final terms files submitted in relation to approved base prospectuses fell from 2,003 (Q4 2018) to 1,835 (-8.4%). During the whole of 2019, the FMA approved 64 prospectuses, two more than in the previous year; it had 82 supplements to approve, compared with 92 in 2018; the submission of final terms files increased from 6,832 to 7,390. These findings have emerged from the Report on the Supervision of Capital Market Prospectuses for the 4th quarter of 2019, which was published today by the Austrian Financial Market Authority (FMA).
26 prospectuses were notified to the FMA from the European Economic Area (EEA) during the 4th quarter of 2019 for marketing interest-bearing securities in Austria; this was an decrease of 54.4% compared against the corresponding period in the previous year, when 57 prospectuses were notified. The number of notified supplements increased slightly from 190 to 195 during the 4th quarter of 2019. The FMA in turn notified eight prospectuses and twelve supplements to sister authorities within the EEA during this period; during the 4th quarter of 2018 it notified six prospectuses and eleven supplements.
Furthermore, the FMA published two sanctions for breaches against the Capital Market Act (KMG) during the 4th quarter of 2019, namely against “GoLending AT GmbH” as well as against www.pfand-kredit.at for misleading advertising among other issues. Furthermore, two investor warnings were published with a KMG link, in relation to “Blue Palm Group Inc.” with its registered office in the USA as well as to EXW Global AG (now: VIVAEXCHANGE OÜ) with its registered office in Liechtenstein.
The full report can be found on the FMA website (in German only) at: https://www.fma.gv.at/kapitalmaerkte/aufsicht-ueber-kapitalmarktprospekte/quartalsberichte/