You are here: 

Swiss Siam Investment Club

Release Date: |

Pursuant to Article 4 para. 7 first sentence of the Bankwesengesetz (BWG; Banking Act) the Austrian Financial Market Authority (FMA) may disclose to the general public by publication on the Internet, in the official gazette “Amtsblatt zur Wiener Zeitung”, or in any other newspaper with nationwide circulation, that a particular natural or legal person (person) is not entitled to carry out certain banking transactions, provided that said person has given cause for such action and informing the general public is deemed necessary and reasonable with regard to possible disadvantages of the person concerned.

By publication in the official gazette “Amtsblatt zur Wiener Zeitung” of 12 October 2010, the FMA informs that

Swiss Siam Investment Club

is not authorised to carry out certain banking transactions requiring a licence in Austria. Pursuant to Article 1 para. 1 no. 1 BWG the commercial acceptance of funds from other parties as deposits (deposit business) is therefore not allowed.

Previous news entry: «