As per the Financial Market Authority’s official declaration of November 4, 2008, the licence relinquished by the managing board of AvW Invest AG on October 24, 2008 has expired pursuant to the 2007 Wertpapieraufsichtsgesetz (WAG 2007; Securities Supervision Act). Prior to this declaration, Martin Wagner, the government commissioner appointed by the FMA, wound up all client affairs of AvW Invest AG in the business area licensed by the FMA. Consequently, with the expiry of the licence, AvW Invest AG may no longer provide the following investment services: investment advice, portfolio management, as well as acceptance and transmission of orders. The expiry of the licence also applies to the authorisation to provide the mentioned services through financial services assistants.
At the same time, Martin Wagner was relieved from this duty. The government commissioner had been appointed by the FMA for the management board of AvW Invest AG.
The business areas of AvW Invest AG that do not require a licence are not affected by these measures. Nor do the FMA measures affect any other areas of the AvW group, particularly the business transactions of AvW Gruppe AG (which holds a 74.9% share in AvW Invest AG) and the participation certificates issued by AvW, since AvW Invest AG is the only company within the group that is supervised by the FMA.
For further information please contact
Klaus Grubelnik (FMA Media Spokesperson)
+43/(0)1/24959-5106
+43/(0676)/882 49 516