On the basis of official observations in relation to the prevention of money laundering and terrorist financing in relation to a supervised institution under the Financial Markets Anti-Money Laundering Act (FM-GwG; Finanzmarkt-Geldwäschegesetz) the FMA has determined by means of an administrative decision that an active office holder no longer meets requirements for technical suitability and in particular personal reputation (“Fitness and Propriety”).
The FMA has therefore instructed the removal of the current office holder and appointment of a person who meets these requirements in a legally effective manner.