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Q3 2019 FMA Report on Supervision of Capital Markets Prospectuses: FMA approved 21 prospectuses and 18 supplements

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The Austrian Financial Market Authority (FMA) approved 21 capital market prospectuses during the 3rd quarter of 2019, one more (+5%) than in the 3rd quarter of 2018. The number of supplements approved by the FMA during the 3rd quarter 2019 more than doubled from 8 to 18 compared to the 3rd quarter 2018. The number of final terms files submitted in relation to approved base prospectuses rose from 1,738 (Q3 2018) to 2,217 (+27.6%). Furthermore, the FMA also approved the first “universal registration document” in accordance with the new EU Prospectus Regulation that has applied since 21 July 2019. In this case it was a new multi-part base prospectus, where a description about the issuer (the registration form), together with a specific securities note that is to be approved subsequently, form a prospectus. These findings have emerged from the Report on the Supervision of Capital Market Prospectuses for the 3rd quarter of 2019, which was published today by the Austrian Financial Market Authority (FMA).

82 prospectuses were notified to the FMA from the European Economic Area (EEA) during the 3rd quarter of 2019 for marketing interest-bearing securities in Austria; this was an increase of +2.5% compared against the corresponding period in the previous year, when 80 prospectuses were notified. The number of notified supplements fell by 53 to 167 during the 3rd quarter of 2019. The FMA in turn notified 8 prospectuses and 14 supplements to sister authorities within the EEA during this period; during the 3nd quarter of 2018 it notified 10 prospectuses and 6 supplements.
Additionally, the FMA also imposed 5 administrative penalties for breaches of the Capital Market Act (KMG; Kapitalmarktgesetz) during the reporting period.

The full quarterly report can be found (in German only) on the FMA website

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Klaus Grubelnik
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