The Austrian Financial Market Authority (FMA), inter alia pursuant to Article 4 para. 7 of the Bankwesengesetz (BWG; Banking Act), 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 (Article 1 para. 1 BWG), 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 23.11.2018, the FMA hereby informs that
With its business address apparently at:
BC Innovative Technologies Limited
Suites 06-12, 33/F., Shui On Centre
6-8 Harbour Road, Wanchai
E-Mail: [email protected]
is not entitled to carry out banking transactions in Austria that require a licence. Therefore the acceptance of funds from other parties on a commercial basis for management purposes or as deposits (Article 1 para. 1 no. 1 BWG) is not allowed.
Update: 23 July 2019
Pursuant to the fourth sentence of Article 4 para. 7 of the Banking Act (BWG; Bankwesengesetz) the party subject to the publication may make an application to the FMA to review the lawfulness of the publication. In this case, the FMA shall announce the initiation of such proceedings in a similar manner.
Top10Coins (BC Innovative Technologies Limited) made such an application to review the lawfulness of the publication dated 23.11.2018. The lawfulness of the publication of 23.11.2018 shall therefore be reviewed in a procedure to be concluded by means of an administrative decision.