The Austrian Financial Market Authority (FMA) has imposed fines of EUR 8,000 each against the persons responsible of Liechtensteinische Landesbank (Österreich) AG by means of penal orders by way of the accelerated conclusion of proceedings pursuant to Article 22 para. 2b of the Financial Market Authority Act (FMABG; Finanzmarktaufsichtsbehördengesetz). In the course of its activities as a depositary in relation to two real estate funds, Liechtensteinische Landesbank (Österreich) AG breached obligations relating to the monitoring of cashflows pursuant to Article 19 para. 7 of the Alternative Investment Fund Managers Act (AIFMG; Alternative Investmentfonds Manager-Gesetz). Such monitoring is intended to guarantee the orderly execution of cashflows, and to ensure that all payments are made by investors when subscribing to units of funds and that the entire means of the fund are actually booked into a cash account. The penal orders are final.