{"id":20189,"date":"2018-12-21T10:39:40","date_gmt":"2018-12-21T09:39:40","guid":{"rendered":"https:\/\/www.fma.gv.at\/?page_id=20189"},"modified":"2026-06-19T08:02:49","modified_gmt":"2026-06-19T06:02:49","slug":"supervisory-disclosure","status":"publish","type":"page","link":"https:\/\/www.fma.gv.at\/en\/pensionskassen\/disclosure\/supervisory-disclosure\/","title":{"rendered":"Supervisory Disclosure"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p>The target of supervisory disclosure is to facilitate a uniform standard of transparency and responsibility of supervisory authorities. Publicised information should be easily accessible and comparable. For this reason, corresponding legal requirements that have to be adhered to by the <abbr title=\"Financial Market Authority\">FMA<\/abbr>  were created under <abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr>  <abbr title=\"two\">II<\/abbr> . The <abbr title=\"Financial Market Authority\">FMA<\/abbr> &rsquo;s disclosure obligations are defined in Article 33i of the Pensionskassen Act (PKG &ndash; Pensionskassengesetz). In order to comply with these requirements the <abbr title=\"Financial Market Authority\">FMA<\/abbr>  hereby discloses information regarding the following thematic areas: <div class=\"card\">  <div class=\"card-header\" id=\"heading-6a3b3d7946e2a\">    <h2 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a3b3d7946e2a\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a3b3d7946e2a\">        <span>Laws, administrative regulations and general guidance<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h2>  <\/div>  <div id=\"collapse-heading-6a3b3d7946e2a\" class=\"collapse\" aria-labelledby=\"heading-6a3b3d7946e2a\">    <div class=\"card-body\"><p> Laws, administrative regulations and general guidance with regard to the requirement in accordance with Article 51 (2) of Directive (EU) <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/HTML\/?uri=CELEX:32016L2341&amp;from=DE\" class=\"external\" target=\"_blank\" rel=\"noopener\">2016\/2341\/EU<\/a> are covered in this section.<\/p><h2><abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr>  <abbr title=\"two\">II<\/abbr> <\/h2><p>Laws and administrative regulations with regard to <abbr title=\"Institutions for Occupational Retirement Provision\">IORP II<\/abbr> are assigned to two different levels: <strong>the level of the <abbr title=\"Institutions for Occupational Retirement Provision\">IORP II<\/abbr>  Directive<\/strong> and the Level <strong>Monitoring of national implementation measures<\/strong><\/p><h3>Level <abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr>  <abbr title=\"two\">II<\/abbr>  Directive<\/h3><p>The <abbr title=\"Institutions for Occupational Retirement Provision\">IORP <\/abbr>  <abbr title=\"two\">II<\/abbr>  Directive (Directive of the European Parliament and of the Council on the activities and supervision of institutions for occupational retirement provision (<abbr title=\"Institutions for Occupational Retirement Provisions\">IORPS<\/abbr> ) (recast) aims at minimum harmonisation and is therefore not intended from precluding Member States from maintaining or introducing stricter provisions, in order to protect members and beneficiaries of occupational pension schemes, provided that such provisions are consistent with Member States&rsquo; obligations under Union law. The Directive does not concern issues of national social, labour, tax or contract law, or the adequacy of pension provision in Member States. The <abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr>  <abbr title=\"two\">II<\/abbr>  Directive has been transposed in Austrian by the amendment to the Pensionskassen Act (<abbr title=\"Pensionskassengesetz\">PKG<\/abbr> ) of 30 November 2018, published in Federal Law Gazette I No. 81\/2018, which entered into force on 01.01.2019.<\/p><ul>\n<li>Directive (EU) <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/HTML\/?uri=CELEX:32016L2341\" class=\"external\" target=\"_blank\" rel=\"noopener\">2016\/2341\/EU<\/a><\/li>\n<\/ul><p><strong><em>National transposition:<\/em><\/strong><\/p><p>Pensionskassen Act (<a href=\"https:\/\/www.fma.gv.at\/download.php?d=824\">PKG<\/a>)<\/p><h3>Level&nbsp;Monitoring of National Implementation Measures<\/h3><p>The European Commission monitors &ndash; with support from <abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr>  &ndash; national measures for implementation as well as supervisory practices. A contribution is thereby may to supervisory convergence and the effective enforcement of Union law.<\/p><ul>\n<li><a href=\"https:\/\/www.fma.gv.at\/download.php?d=824\"><abbr title=\"Pensionskassengesetz\">PKG<\/abbr> <\/a><\/li>\n<li><a href=\"https:\/\/www.fma.gv.at\/en\/national\/fma-regulations\/#51\"><abbr title=\"Financial Market Authority\">FMA<\/abbr>  Regulations<\/a> on the basis of the <abbr title=\"Pensionskassengesetz\">PKG<\/abbr> <\/li>\n<li><a href=\"https:\/\/www.fma.gv.at\/en\/fma\/fma-minimum-standards\/#51\"><abbr title=\"Financial Market Authority\">FMA<\/abbr>  Minimum Standards<\/a><\/li>\n<li><a href=\"https:\/\/www.fma.gv.at\/en\/fma\/fma-circulars\/#51\"><abbr title=\"Financial Market Authority\">FMA<\/abbr>  Circulars<\/a><\/li>\n<li><a href=\"https:\/\/www.fma.gv.at\/en\/fma\/fma-guides\/#51\"><abbr title=\"Financial Market Authority\">FMA<\/abbr>  Guides<\/a><\/li>\n<\/ul><h2>Other legal acts in the field of Pensionskassen regulation<\/h2><h3><em><strong>Standardisation<\/strong><\/em><\/h3><p>\n<a href=\"\/wp-content\/plugins\/dw-fma\/download.php?d=772&nonce=54097801204349ec\" class=\"internal single-document-reference piwik_download mb-0\">Guidelines on the use of the Legal Entity Identifier (LEI) (<span class=\"sr-only\">Format: <\/span>pdf, <span class=\"sr-only\">Size: <\/span>648,4 KB, <span class=\"sr-only\">Language: <\/span>English)<\/a>\n<\/p><h3><em><strong>Reporting requirements to the European Central Bank<\/strong><\/em><\/h3><p>Regulation (EU) <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=CELEX:32018R0231\" class=\"external\" target=\"_blank\" rel=\"noopener\">2018\/231<\/a> of the European Central Bank of 26 January 2018 on statistical reporting requirements for pension funds (ECB\/2018\/2), OJ&nbsp;L 45 of 17.02.2018<\/p><h3><em><strong>Other<\/strong><\/em><\/h3><ul>\n<li>Rating Agencies Enforcement Act (RAVG &ndash; <a href=\"https:\/\/www.fma.gv.at\/download.php?d=2989\">Ratingagenturenvollzugsgesetz)<\/a><\/li>\n<li>Act on the Enforcement of the Securities Financing Transactions Regulation (<a href=\"https:\/\/www.fma.gv.at\/download.php?d=2990\">SFT-Vollzugsgesetz)<\/a><\/li>\n<li>Financial Markets Anti-Money Laundering Act(<a href=\"https:\/\/www.fma.gv.at\/download.php?d=2701\">FM-GwG &ndash; Finanzmarkt-Geldw&auml;schegesetz)<\/a><\/li>\n<\/ul><p><em><strong><abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr> <\/strong><\/em> Regulation (EU) No. <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=CELEX:02010R1094-20200101&amp;from=EN\" class=\"external\" target=\"_blank\" rel=\"noopener\">1094\/2010<\/a> &ndash; establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), <a href=\"https:\/\/www.fma.gv.at\/en\/glossary\/european-insurance-and-occupational-pensions-authority-eiopa\/\">EIOPA<\/a><\/p><h3><em><strong><abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr>  Opinions published on 07.10.2021<\/strong><\/em><\/h3><ul>\n<li><a href=\"https:\/\/www.eiopa.europa.eu\/system\/files\/2021-10\/eiopa-bos-21-426-opinion-cost-reporting-iorps.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\">Opinion on the supervisory reporting of costs and charges of IORPs<\/a><br>\nEIOPA-BoS-21\/426<br>\n<em>Description<\/em><br>\nThe Opinion sets out expectations on the supervisory reporting of costs and charges of <abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr> s<\/li>\n<li><a href=\"https:\/\/www.eiopa.europa.eu\/system\/files\/2021-10\/eiopa-bos-21-429-opinion-dc-risk-assessment-iorps.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\">Opinion on the supervision of risk assessment by IORPs providing DC schemes<\/a><br>\nEIOPA-BoS-21\/429<br>\n<em>Description<\/em><br>\nThe supervisory approach to <abbr title=\"Defined Contribution\">DC<\/abbr>  products needs to ensure that risks borne by <abbr title=\"Defined Contribution\">DC<\/abbr>  <abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr> s are appropriately monitored and managed. The Opinion fosters consistent supervisory practices by providing guidance on two aspects of risk management by <abbr title=\"Defined Contribution\">DC<\/abbr>  <abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr> s. Firstly, the Opinion calls for a greater use of quantitative elements when managing operational risks, supplementing <abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr> &rsquo;s existing opinion. Secondly, it expects <abbr title=\"Defined Contribution\">DC<\/abbr>  <abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr> s to conduct long-term risk assessments by using projections of members&rsquo; future retirement income, comparing the results with the established risk tolerance of the members and beneficiaries, and as appropriate considering the <abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr> &rsquo;s investment strategies.<\/li>\n<\/ul><h3><em><strong><abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr>  Opinions published on 10.07.2019<\/strong><\/em><\/h3><ul>\n<li><a href=\"https:\/\/www.eiopa.europa.eu\/system\/files\/2019-07\/opinion_on_the_use_of_governance_and_risk_assessment_documents_in_supervision_of_iorps_0.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\">The Opinion on the use of governance and risk assessment documents in the supervision of Institutions for Occupational Retirement Provisions (IORPs)<\/a><br>\nEIOPA-BoS-19-245<br>\n<a href=\"https:\/\/www.eiopa.europa.eu\/system\/files\/2019-07\/annex_to_opinion_eiopa-bos-19-245_ora_template_0.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\">Templates on the own-risk assessment documents<\/a><br>\n<em>Description<\/em><br>\nIn this opinion <abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr>  sets out its expectation about how institutions for occupational retirement provision (IORPs) should conduct their Own Risk Assessment (ORA), as well as the minimum content of the <abbr title=\"Own Risk Assessment\">ORA<\/abbr>  report. In so doing <abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr>  also states how the documentation in question should flow in the supervision of investment policies (incl. the principles of the investment policy).<\/li>\n<li><a href=\"https:\/\/www.eiopa.europa.eu\/system\/files\/2019-07\/opinion_on_the_practical_implementation_of_the_common_framework_for_risk_assessment_and_transparency_of_iorps.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\">The Opinion on the practical implementation of the common framework for risk assessment and transparency for Institutions for Occupational Retirement Provisions (IORPs)<\/a><br>\nEIOPA-BoS-19-246<br>\n<a href=\"https:\/\/register.eiopa.europa.eu\/Publications\/Opinions\/Annex%20to%20Opinion%20(EIOPA-BoS-19-246)%20Technical%20specifications.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\">Principles and Technical Specifications for the Common Framework<\/a><br>\n<em>Description<\/em><br>\nThe Common Framework (CF) is a useful risk management tool from <abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr> &rsquo;s perspective and therefore should be deployed accordingly in the supervised entities. This is particularly the case where risks that are split between employers, beneficiaries and the <abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr>  itself. <abbr title=\"Institutions for Occupational Retirement Provision\">IORPs<\/abbr> , which offer &ldquo;pure DC schemes&rdquo; (where all risks are borne by the beneficiaries) are not captured by this opinion.<br>\nThe <abbr title=\"Common Framework\">CF<\/abbr>  contains comprehensive principles and technical specifications, which may be used by the supervisory authorities and by the <abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr> s on a voluntary basis.<\/li>\n<li><a href=\"https:\/\/www.eiopa.europa.eu\/system\/files\/2019-07\/opinion_on_the_supervision_of_the_management_of_operational_risks_faced_by_iorps.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\">The Opinion on the supervision of the management of operational risks faced by Institutions for Occupational Retirement Provisions (IORPs)<\/a><br>\n<em>EIOPA-BoS-19-247<br>\nDescription<\/em><br>\n<abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr>  wishes to contribute towards ensuring harmonised supervisory practices in relation to operational risk. This opinion therefore also covers outsourcing and cyberrisks. The assessment of operation is also part of the <abbr title=\"Own Risk Assessment\">ORA<\/abbr>  and should therefore in any case also contain forward-looking information.<br>\n<abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr> &nbsp;orients itself towards Solvency II in terms of definitions. Operational risk is defined as the risk of loss arising from inadequate or failed internal processes, personnel or systems, or from external events. Operational risks include compliance\/legal risks, but exclude risks arising from strategic decisions as well as from reputational risks.<\/li>\n<li><a href=\"https:\/\/www.eiopa.europa.eu\/system\/files\/2020-02\/opinion-on-the-supervision.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\">The Opinion on the supervision of the management of environment, social and governance risks faced by Institutions for Occupational Retirement Provisions (IORPs)<\/a><br>\nEIOPA-BoS-19-248<br>\n<em>Description<\/em><br>\nFrom <abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr> &rsquo;s perspective, <abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr> s have a social purpose and should therefore adopt a pioneering role in taking into account <abbr title=\"Environmental Social Governance\">ESG<\/abbr>  factors. In so doing the impact of long-term investment decisions and activities are to be taken into account. The opinion clearly shows the relationship between <abbr title=\"Environmental Social Governance\">ESG<\/abbr>  risks and traditional ones.<\/li>\n<\/ul><h2>Sustainable Finance<\/h2><h3><strong><abbr title=\"Sustainable Finance Disclosure Regulation\">SFDR<\/abbr> <\/strong><\/h3><ul>\n<li>Regulation (EU) <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX%3A02019R2088-20200712&amp;qid=1663313303464\" class=\"external\" target=\"_blank\" rel=\"noopener\">2019\/2088<\/a> on sustainability&#8208;related disclosures in the financial services sector (<abbr title=\"Sustainable Finance Disclosure Regulation\">SFDR<\/abbr> )<\/li>\n<li>Delegated Regulation (EU) <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX%3A32022R1288&amp;qid=1663313946611\" class=\"external\" target=\"_blank\" rel=\"noopener\">2022\/1288<\/a> supplementing <abbr title=\"Sustainable Finance Disclosure Regulation\">SFDR<\/abbr> <\/li>\n<\/ul><h3><strong><abbr title=\"Non-Financial Reporting Directive\">NFRD<\/abbr> <\/strong><\/h3><ul>\n<li>Directive <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX%3A32014L0095\" class=\"external\" target=\"_blank\" rel=\"noopener\">2014\/95\/EU<\/a> as regards disclosure of non-financial and diversity information (<abbr title=\"Non-Financial Reporting Directive\">NFRD<\/abbr> )<\/li>\n<li><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX%3A52021PC0189\" class=\"external\" target=\"_blank\" rel=\"noopener\">Proposal<\/a> for a Directive amending corporate sustainability reporting (<abbr title=\"Corporate Sustainability Reporting Directive\">CSRD<\/abbr> )<\/li>\n<li>Taxonomy Regulation (EU) <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX:32020R0852\" class=\"external\" target=\"_blank\" rel=\"noopener\">2020\/852<\/a><\/li>\n<li>Delegated Regulation <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX%3A32021R2178\" class=\"external\" target=\"_blank\" rel=\"noopener\">2021\/2178<\/a><\/li>\n<li>Delegated Regulation <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/HTML\/?uri=CELEX:32022R1214&amp;from=DE\" class=\"external\" target=\"_blank\" rel=\"noopener\">2022\/1214<\/a><\/li>\n<\/ul><h3><em><strong>&nbsp; Pillar 1<\/strong><\/em><\/h3><ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"https:\/\/register.eiopa.europa.eu\/Publications\/EIOPA-BoS-19-172_Final_Report_Technical_advice_for_the_integration_of_sustainability_risks_and_factors.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\"><abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr>  Advice<\/a> on the integration of sustainability risks and factors in Solvency II and <abbr title=\"Insurance Distribution Directive\">IDD<\/abbr> <\/li>\n<li><a href=\"https:\/\/www.eiopa.europa.eu\/system\/files\/2019-12\/2019-09-30_opinionsustainabilitywithinsolvencyii.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\"><abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr>  Opinion<\/a> on Sustainability within Solvency II<\/li>\n<li><a href=\"https:\/\/www.eiopa.europa.eu\/document-library\/report\/report-non-life-underwriting-and-pricing-light-of-climate-change_en\" class=\"external\" target=\"_blank\" rel=\"noopener\"><abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr>  Report <\/a>on non-life underwriting and pricing in light of climate change<\/li>\n<\/ul>\n<\/li>\n<\/ul><p><em><strong>&nbsp; Pillar 2<\/strong><\/em><\/p><ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"https:\/\/www.eiopa.europa.eu\/media\/news\/eiopa-issues-opinion-supervision-of-use-of-climate-change-risk-scenarios-orsa_en\" class=\"external\" target=\"_blank\" rel=\"noopener\"><abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr>  Opinion <\/a>on the supervision of the use of climate change risk scenarios in <abbr title=\"Own Risk and Solvency Assessments\">ORSA<\/abbr> <\/li>\n<\/ul>\n<\/li>\n<\/ul><h3><strong>Distribution<\/strong><\/h3><ul>\n<li>Delegated Regulation (EU) <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX%3A32021R1257&amp;qid=1663322788675\" class=\"external\" target=\"_blank\" rel=\"noopener\">2021\/1257<\/a> as regards the integration of sustainability factors, risks and preferences into the <abbr title=\"Product Oversight and Governance\">POG<\/abbr>  requirements and into the rules on conduct of business and investment advice for insurance-based investment products<\/li>\n<li><a href=\"https:\/\/www.eiopa.europa.eu\/system\/files\/2022-07\/guidance_on_integration_of_customers_sustainability_preferences_under_idd.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\"><abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr>  Guidance <\/a>on the integration of sustainability preferences in the suitability assessment under the <abbr title=\"Insurance Distribution Directive\">IDD<\/abbr> <\/li>\n<\/ul><h2>Digitalisation<\/h2><h3><strong><abbr title=\"Artificial Intelligence Act\">AIA<\/abbr> <\/strong><\/h3><ul>\n<li><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX:32024R1689\" class=\"external\" target=\"_blank\" rel=\"noopener\">Regulation (EU) 2024\/1689<\/a> laying down harmonised rules on artificial intelligence (<abbr title=\"Artificial Intelligence Act\">AIA<\/abbr> )<\/li>\n<li><a href=\"https:\/\/www.eiopa.europa.eu\/media\/news\/eiopa-seeks-input-supervisory-statement-differential-pricing-practices_en\" class=\"external\" target=\"_blank\" rel=\"noopener\"><abbr title=\"European Insurance and Occupational Pensions Authority\">EIOPA<\/abbr>  Consultation Paper<\/a> on differential pricing practices<\/li>\n<\/ul><h3><strong><abbr title=\"Digital Operational Resilience Act\">DORA<\/abbr> <\/strong><\/h3><h4>Level 1:<\/h4><ul>\n<li>Regulation <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=celex%3A32022R2554\" class=\"external\" target=\"_blank\" rel=\"noopener\">(EU) 2022\/2554<\/a> on digital operational resilience for the financial sector (DORA)<\/li>\n<li><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/HTML\/?uri=CELEX:32022L2556\" class=\"external\" target=\"_blank\" rel=\"noopener\">Directive (EU) 2022\/2556<\/a>&nbsp;zur amending Directives 2009\/138\/EC etc. as regards digital operational resilience for the financial sector<\/li>\n<\/ul><p>National implementation \/ legal basis on enforcement of DORA regulation in Austria:<\/p><ul>\n<li><a href=\"https:\/\/www.fma.gv.at\/wp-content\/plugins\/dw-fma\/download.php?d=6877\">DORA Enforcement Act (DORA-VG)<\/a><\/li>\n<\/ul><ul>\n<li><a href=\"https:\/\/ris.bka.gv.at\/GeltendeFassung.wxe?Abfrage=Bundesnormen&amp;Gesetzesnummer=20003389&amp;FassungVom=2025-01-18\" class=\"external\" target=\"_blank\" rel=\"noopener\">FMA-Geb&uuml;hrenverordnung<\/a> (available in German only)<\/li>\n<li><a style=\"font-size: revert;\" href=\"https:\/\/www.fma.gv.at\/wp-content\/plugins\/dw-fma\/download.php?d=3735&amp;nonce=7737fea71a1e8ca1\">FMA Regulation on the Incoming Platform &ndash; FMA-IPV<\/a><\/li>\n<\/ul><h4><strong>Level 2 to 3:&nbsp;<\/strong><\/h4><table class=\"has-fixed-layout\">\n<tbody>\n<tr>\n<td class=\"wp-block-table__cell-content\">\n<div class=\"block-editor-rich-text__editable rich-text\" role=\"textbox\" aria-label=\"Text der Body-Zelle\"><strong>ICT-risk management<\/strong><\/div>\n<div role=\"textbox\" aria-label=\"Text der Body-Zelle\"><\/div>\n<div class=\"block-editor-rich-text__editable rich-text\" role=\"textbox\" aria-label=\"Text der Body-Zelle\"><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/HTML\/?uri=OJ:L_202401774\" class=\"external\" target=\"_blank\" rel=\"noopener\">COMMISSION DELEGATED REGULATION (EU) 2024\/1774: tools, methods, processes and the ICT- risk management policies&nbsp;<\/a><\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"wp-block-table__cell-content\">\n<div class=\"block-editor-rich-text__editable rich-text\" role=\"textbox\" aria-label=\"Text der Body-Zelle\"><strong>Testing Digital Operational Resilience<\/strong><br data-rich-text-line-break=\"true\"><br data-rich-text-line-break=\"true\"><\/div>\n<div role=\"textbox\" aria-label=\"Text der Body-Zelle\"><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/HTML\/?uri=OJ:L_202501190&amp;qid=1750396606667\" class=\"external\" target=\"_blank\" rel=\"noopener\">COMMISSION DELEGATED REGULATION (EU) 2025\/1190: threat-led penetration testing (TLPT)<\/a><\/div>\n<div role=\"textbox\" aria-label=\"Text der Body-Zelle\"><\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"wp-block-table__cell-content\">\n<div class=\"block-editor-rich-text__editable rich-text\" role=\"textbox\" aria-label=\"Text der Body-Zelle\">\n<p><strong>ICT-related incidents<\/strong><\/p>\n<p><a href=\"https:\/\/www.eiopa.europa.eu\/document\/download\/f92c9ae0-889f-45ed-89bc-7123012e0417_en?filename=JC%202024-34_Guidelines%20on%20costs%20and%20losses_DORA.pdf&amp;prefLang=de\" class=\"external\" target=\"_blank\" rel=\"noopener\">Guidelines: Estimation of aggregate annual costs and losses<\/a><\/p>\n<p><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/HTML\/?uri=OJ:L_202401772\" class=\"external\" target=\"_blank\" rel=\"noopener\">COMMISSION DELEGATED REGULATION (EU) 2024\/1772: Criteria for the classification of ICT-related incidents and cyber threats, materiality thresholds and details of serious incident reports<\/a><\/p>\n<p><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=CELEX%3A32025R0301\" class=\"external\" target=\"_blank\" rel=\"noopener\">COMMISSION DELEGATED REGULATION (EU) 2025\/301: <span class=\"Y2IQFc\" lang=\"en\">Determination of the content and deadlines for the initial, intermediate and final reporting of serious ICT-related incidents, as well as the content of the voluntary reporting of significant cyber threats<\/span><\/a><\/p>\n<p><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=OJ:L_202500302\" class=\"external\" target=\"_blank\" rel=\"noopener\">COMMISSION IMPLEMENTING REGULATION (EU) 2025\/302: <span class=\"Y2IQFc\" lang=\"en\">Report details on ICT-related incidents<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.eiopa.europa.eu\/document\/download\/47b6ad86-3a4b-4d00-9acd-088ef9e64d18_en?filename=JC%202024%20108_Report%20on%20the%20feasibility%20for%20further%20Centralisation%20of%20reporting%20of%20major%20ICT%20incidents.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\">Report on the feasibility for further centralisation of reporting of major ICT-related incidents<\/a><\/p>\n<\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"wp-block-table__cell-content\">\n<div class=\"block-editor-rich-text__editable rich-text\" role=\"textbox\" aria-label=\"Text der Body-Zelle\"><strong>ICT third-party risk management<\/strong><\/div>\n<div role=\"textbox\" aria-label=\"Text der Body-Zelle\"><\/div>\n<div class=\"block-editor-rich-text__editable rich-text\" role=\"textbox\" aria-label=\"Text der Body-Zelle\"><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=OJ:L_202402956\" class=\"external\" target=\"_blank\" rel=\"noopener\">COMMISSION IMPLEMENTING REGULATION (EU) 2024\/2956: Standard templates for the information register<\/a><\/div>\n<div class=\"block-editor-rich-text__editable rich-text\" role=\"textbox\" aria-label=\"Text der Body-Zelle\"><br data-rich-text-line-break=\"true\"><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/HTML\/?uri=OJ:L_202401773\" class=\"external\" target=\"_blank\" rel=\"noopener\">COMMISSION DELEGATED REGULATION (EU) 2024\/1773: Content of the guideline for contractual arrangements for the use of ICT services to support critical or important functions provided by ICT third-party service providers<\/a><br data-rich-text-line-break=\"true\"><br data-rich-text-line-break=\"true\"><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/HTML\/?uri=OJ:L_202500532&amp;qid=1752470296178\" class=\"external\" target=\"_blank\" rel=\"noopener\">COMMISSION DELEGATED REGULATION (EU) 2025\/532: specifying the elements that a financial entity has to determine and assess when subcontracting ICT services supporting critical or important functions<\/a><\/div>\n<div role=\"textbox\" aria-label=\"Text der Body-Zelle\"><\/div>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"wp-block-table__cell-content\">\n<div class=\"block-editor-rich-text__editable rich-text\" role=\"textbox\" aria-label=\"Text der Body-Zelle\"><strong>Monitoring framework for critical ICT third-party service providers<\/strong><\/div>\n<div role=\"textbox\" aria-label=\"Text der Body-Zelle\"><\/div>\n<div class=\"block-editor-rich-text__editable rich-text\" role=\"textbox\" aria-label=\"Text der Body-Zelle\"><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/HTML\/?uri=OJ:L_202401502\" class=\"external\" target=\"_blank\" rel=\"noopener\">COMMISSION DELEGATED REGULATION (EU) 2024\/1502: criteria for the designation of ICT third-party service providers as critical for financial entities<\/a><br data-rich-text-line-break=\"true\"><br data-rich-text-line-break=\"true\"><a href=\"https:\/\/www.eiopa.europa.eu\/document\/download\/243b423e-404d-4a4d-bd2b-b7a0fa4779ed_en?filename=Joint-guidelines-on-oversight-cooperation-and-information-exchange-between-the-ESAs-and-the-competent-authorities-under-DORA_EN.pdf\" class=\"external\" target=\"_blank\" rel=\"noopener\">Guidelines JC\/GL\/2024\/36 on the oversight cooperation and information exchange between the ESAs and the competent authorities under Regulation (EU)2022\/2554&nbsp;<\/a><\/div>\n<div role=\"textbox\" aria-label=\"Text der Body-Zelle\"><\/div>\n<div class=\"block-editor-rich-text__editable rich-text\" role=\"textbox\" aria-label=\"Text der Body-Zelle\"><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=CELEX%3A32025R0295\" class=\"external\" target=\"_blank\" rel=\"noopener\">COMMISSION DELEGATED REGULATION (EU) 2025\/295: Harmonization of monitoring activities<\/a><br>\n<br data-rich-text-line-break=\"true\"><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=OJ:L_202500420\" class=\"external\" target=\"_blank\" rel=\"noopener\">COMMISSION DELEGATED REGULATION (EU) 2025\/420: joint examination teams<\/a><br data-rich-text-line-break=\"true\"><br data-rich-text-line-break=\"true\"><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/HTML\/?uri=OJ:L_202401505\" class=\"external\" target=\"_blank\" rel=\"noopener\">COMMISSION DELEGATED REGULATION (EU) 2024\/1505: CTPP fees<\/a><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><p><a href=\"https:\/\/finance.ec.europa.eu\/regulation-and-supervision\/financial-services-legislation\/implementing-and-delegated-acts\/digital-operational-resilience-regulation_en\" class=\"external\" target=\"_blank\" rel=\"noopener\">Link to the European Commission Website<\/a><\/p><p><strong><em>Other convergence instruments <\/em><\/strong><\/p><ul>\n<li><a href=\"https:\/\/www.fma.gv.at\/wp-content\/plugins\/dw-fma\/download.php?d=7048&amp;nonce=332ec53fb21c4617\">ESAs-Decision on reporting of information necessary for the designation of critical ICT third-party service providers <\/a><\/li>\n<li><a href=\"https:\/\/www.fma.gv.at\/wp-content\/plugins\/dw-fma\/download.php?d=7052&amp;nonce=d82acceea9d917d2\">EIOPA-Opinion on the scope of DORA in light of the review of the Solvency II framework<\/a><\/li>\n<\/ul><p>    <\/div>  <\/div><\/div><p><div class=\"card\">  <div class=\"card-header\" id=\"heading-6a3b3d7951a94\">    <h2 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a3b3d7951a94\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a3b3d7951a94\">        <span>Supervisory Review Process<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h2>  <\/div>  <div id=\"collapse-heading-6a3b3d7951a94\" class=\"collapse\" aria-labelledby=\"heading-6a3b3d7951a94\">    <div class=\"card-body\"><p> <strong>General criteria and methodologies for the Supervisory Review Process (Article&nbsp;49 (EU)<\/strong> <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=CELEX:32016L2341\" class=\"external\" target=\"_blank\" rel=\"noopener\">2016\/2341\/EU<\/a>)<\/p><h3>Aims of the Supervisory Review Process<\/h3><p>The <abbr title=\"Financial Market Authority\">FMA<\/abbr>  shall monitor the adequacy of strategies, processes and reporting procedures used by Pensionskassen with regard to their compliance with with applicable regulations regarding Pensionskassen business. The <abbr title=\"Financial Market Authority\">FMA<\/abbr>  shall in particular assess the qualitative requirements in relation to the governance system, the risks that the Pensionskasse is exposed to or could be exposed to, as well as the ability of the undertaking to be able to assess such risks while taking into consideration the prevailing business environment. The following topic areas are at the centre of the Supervisory Review Process: 1. Governance system, including the Own Risk and Solvency Assessment and investment rules; 2. Technical provision; 3. Solvency Capital Requirement and Minimum Capital Requirement; and 4. Quality and Quantity of Own Funds. Furthermore the adequacy of the methodologies and practices of Pensionskassen are also assessed that are of use for determining potential events or changes in economic conditions, which could have a detrimental effect on the general financial ability to perform of the respective undertaking. The ability of Pensionskassen to absorb such potential events or changes in economic conditions is also analysed. Depending on the results of this assessment, supervisory measures will be taken.<\/p><h3>Criteria and methodologies&nbsp;of the individual phases of the Supervisory Review Process<\/h3><p>The Supervisory Review Process is generally split into the following three phases: 1. Categorisation of risks 2. Detailed review 3. Supervisory measures<\/p><h4><strong>Phase 1 &ndash; Categorisation of risks<\/strong><\/h4><p>For the categorisation of risks and impacts, both the information submitted both as part of regular reporting requirements, as well as additional national reporting requirements under the regulation on reporting by Pensionskassen, are taken into account. These reports are, among other things, used to generate risk and early warning indicators. The results of stress tests, time series analyses, comparisons between undertakings or relevant peer groups and other issue-related analyses are also considered in assessments. Further examples of elements that are taken into account are indications from other supervisory authorities and analyses of the general and Pensionskassen-specific market environments as well as the market behaviour of individual undertakings. For the classification of the respective undertaking all of this data, which is assessed in a largely standardised manner at first, is complemented with additional qualitative observations (<abbr title=\"example given\">e.g.<\/abbr>  from a regular dialogue with representatives from the undertaking). Within the risk classification, the <abbr title=\"Financial Market Authority\">FMA<\/abbr>  identifies and assesses the ability of the undertaking to be able to react appropriately to or withstand current or potential future risks. The risk profile is compared against the respective risk bearing capacity. In the case of impact classification, the impact of default on both the beneficiaries and the market are assessed. For example, among other factors, the size of the undertaking (<abbr title=\"example given\">e.g.<\/abbr>  amount of technical provisions and contributions) determines the impact classification. Such risk and impact classifications are transposed into four risk and impact classifications ranging from &ldquo;low&rdquo; to &ldquo;very high&rdquo;. The intensity of supervision for the coming year is defined in this way. The supervisory plan, determining the frequency and the intensity of the supervisory activities for every undertaking, based on the assignment of undertakings to respective supervisory levels, is determined on a risk-based approach. The frequency and intensity of the activities conducted by the supervisory activities for every undertaking are determined in the supervisory plan.<\/p><h4><strong>Phase 2 &ndash; Detailed review<\/strong><\/h4><p>Detailed reviews take place on the basis of the supervision plan in the form of location-independent analyses and on-site inspections . The <abbr title=\"Financial Market Authority\">FMA<\/abbr> &rsquo;s planned thematic <a href=\"https:\/\/www.fma.gv.at\/en\/publications\/facts-and-figures-trends-and-strategies\/\">priorities for inspections <\/a> have been published for the year ahead since the package of measures in relation to the &ldquo;Supervisory Reform 2017&rdquo; entered into force.<\/p><h4><strong>Phase 3 &ndash; Supervisory measures<\/strong><\/h4><p>Weaknesses, as well as existing or potential deficiencies, or infringements against requirements may lead to supervisory measures being set. The initiation of such measures is commensurate to the detected deficiencies. A review of the implementation of measures in the undertaking is conducted by the <abbr title=\"Financial Market Authority\">FMA<\/abbr>  and the supervision plan is updated in accordance with the effectiveness of the activities conducted in the undertaking concerned.     <\/div>  <\/div><\/div><p><div class=\"card\">  <div class=\"card-header\" id=\"heading-6a3b3d7951bbc\">    <h2 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a3b3d7951bbc\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a3b3d7951bbc\">        <span>Aggregated statistical data<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h2>  <\/div>  <div id=\"collapse-heading-6a3b3d7951bbc\" class=\"collapse\" aria-labelledby=\"heading-6a3b3d7951bbc\">    <div class=\"card-body\"><p><strong>The aggregated statistical data pursuant to Article 51 (2) (c) of Directive (EU)<\/strong> <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=CELEX:32016L2341\" class=\"external\" target=\"_blank\" rel=\"noopener\">2016\/2341\/EU<\/a> can be found (in German only) on the pages<\/p><p><a href=\"https:\/\/www.fma.gv.at\/en\/statistics\/\">Statistics<\/a> and <a href=\"https:\/\/www.fma.gv.at\/en\/pensionskassen\/disclosure\/the-state-of-austrian-pensionskassen\/\">State of Austrian Pensionskassen<\/a>.<\/p><p>    <\/div>  <\/div><\/div><p><div class=\"card\">  <div class=\"card-header\" id=\"heading-6a3b3d7951bcd\">    <h2 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a3b3d7951bcd\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a3b3d7951bcd\">        <span>Aims, principle functions and activities of supervision<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h2>  <\/div>  <div id=\"collapse-heading-6a3b3d7951bcd\" class=\"collapse\" aria-labelledby=\"heading-6a3b3d7951bcd\">    <div class=\"card-body\"><p>Aims of supervision and its principle functions and activities based on the requirement in accordance with Article 45 (1) of Directive <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/PDF\/?uri=CELEX:32016L2341\" class=\"external\" target=\"_blank\" rel=\"noopener\">2016\/2341\/EU<\/a>)<\/p><h3><strong>Aims of supervision<\/strong><\/h3><p>The main of supervision is to protect the rights of members and beneficiaries of occupational pension schemes and to ensure the stability and soundness of <abbr title=\"Institutions for Occupational Retirement Provision\">IORP<\/abbr> s. Irrespective of this aim, the <abbr title=\"Financial Market Authority\">FMA<\/abbr>  shall duly consider in the performance of its tasks the potential impact of its decisions on the stability of the financial system in all <abbr title=\"European Economic Area\">EEA<\/abbr>  Member States concerned and, in particular, in emergency situations, based on the information available at the relevant time. In times of exceptional movement in the financial markets the <abbr title=\"Financial Market Authority\">FMA<\/abbr>  shall take the potential procyclical effects of the measures that it deploys into account.<\/p><h3><strong>Main functions of supervision<\/strong><\/h3><p>The <abbr title=\"Financial Market Authority\">FMA<\/abbr>  monitors all business performed by Pensionskassen within the scope of the licence granted pursuant to Article 8 para. 1 <abbr title=\"Pensionskassengesetz\">PKG<\/abbr> . The <abbr title=\"Financial Market Authority\">FMA<\/abbr> &rsquo;s supervisory activities must be both risk-based and forward looking. The orderly functioning of Pensionskassen business and compliance with the regulations applicable for the operation of Pensionskassen, in particular those set forth in the <abbr title=\"Pensionskassengesetz\">PKG<\/abbr> , form the central focus of supervisory activities. In so doing the <abbr title=\"Financial Market Authority\">FMA<\/abbr>  ensures that there is an appropriate combination of location-independent activities and on-site inspections. In exercising its powers, the <abbr title=\"Financial Market Authority\">FMA<\/abbr>  takes into account the nature, scope and complexity of the risks that arise from the business activity of the Pensionskassen.<\/p><h3><strong>Main areas for ongoing or planned supervisory activity<\/strong><\/h3><p>The supervision of Pensionskassen involves the exercising of official tasks and powers defined in the Pensionskassen Act (<abbr title=\"Pensionskassengesetz\">PKG<\/abbr> ), in the Company Pension Act (<abbr title=\"Betriebspensionsgesetz\">BPG<\/abbr> ) and the SFT Enforce Act (SFT-Vollzugsgesetz) and which have been assigned to the FMA. Details about supervisory activities may in particular be found in the <abbr title=\"Financial Market Authority\">FMA<\/abbr> <a href=\"https:\/\/www.fma.gv.at\/en\/publications\/fma-annual-report\/\">&nbsp;Annual Reports<\/a> as well as the FMA&rsquo;s <a href=\"https:\/\/www.fma.gv.at\/en\/publications\/facts-and-figures-trends-and-strategies\/\">Focuses on Supervision and Inspections<\/a>.&nbsp;    <\/div>  <\/div><\/div><p><\/p><h2>Further information:<\/h2><p>\n<div id=\"reference-6a3b3d7951c7c\" class=\"reference\"><h2 class=\"reference-heading\"><span class=\"fa-solid fa-puzzle-piece fa-fw\" aria-hidden=\"true\"><\/span>Related Topics<\/h2><p> Report on <a href=\"https:\/\/www.fma.gv.at\/en\/pensionskassen\/disclosure\/the-state-of-austrian-pensionskassen\/\">The State of Austrian Pensionskassen<\/a>&nbsp;<\/div><p>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The target of supervisory disclosure is to facilitate a uniform standard of transparency and responsibility of supervisory authorities. Publicised information &#8230;<\/p>\n","protected":false},"author":20,"featured_media":0,"parent":8095,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-20189","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Supervisory Disclosure - FMA \u00d6sterreich<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fma.gv.at\/en\/pensionskassen\/disclosure\/supervisory-disclosure\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Supervisory Disclosure - FMA \u00d6sterreich\" \/>\n<meta property=\"og:description\" content=\"The target of supervisory disclosure is to facilitate a uniform standard of transparency and responsibility of supervisory authorities. 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