The FMA approved 14 capital market prospectuses during the 4th Quarter of 2017, two less than in the corresponding quarter in 2016. In addition 24 supplements were approved, an increase of nine compared with the 4th Quarter 2016. No approval procedures were closed. The gross issue volume for interest-bearing securities stood at € 13.14 billion (Q4 2016: € 34.88 billion). During the whole of 2017, 69 prospectuses and 81 supplements were approved. Compared with 2016, this constitutes an increase by 16 prospectus approvals as well as an increase of ten approvals of supplements. Three approval procedures were closed (2016: 1). These findings have emerged from the Report on the Supervision of Capital Market Prospectuses, which was published today by the Austrian Financial Market Authority (FMA).
Broken down into various different categories of issuers, the distribution was as follows: IPOs, capital increases and listing prospectuses (Q4 2017: 2 cf. Q4 2016: 2), housing finance banks (Q4 2017: 2 cf. Q4 2016: 2), base prospectuses (Q4 2017: 3 / Q4 2014: 2) and bonds (Q4 2016: 3 / Q4 2016: 2). During the whole of 2017, there were eleven approvals in the category IPOs, capital increases and listing prospectuses (2016: 6), six in the category housing finance banks (2016: 6), 34 in the category base prospectuses (2016: 28) and nine in the category bonds (2016: 6).
The submission of a notification to the respective competent national authority is a condition for being allowed to use a prospectus or a supplement in another EEA Member State. Partner authorities notified the FMA in the 4th Quarter of 2017 of 74 prospectuses (Q4 2016: 64) and 253 supplements (Q4 2016: 343). The FMA provided notification about two prospectuses (Q4 2016: 2) and 14 supplements (Q4 2016: 7). During the whole of 2017, partner authorities notified the FMA about 311 prospectuses, 35 prospectuses fewer than in the previous year. The number of supplements notified by partner authorities stood at 1,009, 189 supplements fewer than in 2016. The FMA provided notifications about 28 prospectuses (2016: 23) and 40 supplements (2016: 41).
In response to infringements of the Capital Market Act, the FMA imposed 18 administrative penalties in the fourth quarter of 2017 but did not report any cases to the public prosecutor’s office. During the whole of 2017, the FMA imposed a total of 36 administrative penalties, and reported a solitary case to the public prosecutor’s office.
The full quarterly report can be found on the FMA website (in German only) at https://www.fma.gv.at/kapitalmaerkte/aufsicht-ueber-kapitalmarktprospekte/quartalsberichte/
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)676/882 49 516