The FMA may, pursuant to Article 4 para. 11 of the Insurance Supervision Act, 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 operate the contractual insurance business or to provide certain insurance services, provided this person has given cause for such action and informing the general public is deemed necessary and reasonable in the light of possible disadvantages for the person concerned.
By publication in “Amtsblatt zur Wiener Zeitung” of 7 June 2013, the FMA informs that
Unterstützungskasse für Arbeitnehmerschutz und Vorsorge
Liebenauer Hauptstrasse 2-6/D/1st floor
8041 Graz, Austria
Web: www.arbeitnehmerschutzbrief.at
is not entitled to conduct contractual insurance business in Austria.
ANNOUNCEMENT in the official gazette “Amtsblatt zur Wiener Zeitung” of 6 July 2013
Pursuant to Article 4 para. 11 fourth sentence VAG, the company whom the publication concerns may apply to the FMA for a review of the lawfulness of the publication. In this case, the FMA shall publicly announce initiation of such a procedure in the same manner.
Unterstützungskasse für Arbeitnehmerschutz und Vorsorge has submitted a corresponding application for review of the lawfulness of the publication of 7 June 2013.
The FMA will, therefore, review the lawfulness of the publication of 7 June 2013 in a procedure to be decided upon by administrative decision.