Pursuant to Article 4 para. 7 first sentence of the Bankwesengesetz (BWG; Banking Act), the Austrian Financial Market Authority (FMA) 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, 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.<\/p>
By publication in the official gazette “Amtsblatt zur Wiener Zeitung” of 31 October 2015, the FMA informs, that<\/p>
South America Real Estate Group Europe Ltd.<\/strong> <\/p> is not entitled to carry out banking transactions in Austria that require a licence. Therefore the acceptance of funds from other parties for the purpose of administration or as deposits (deposit business) is not allowed pursuant to Article 1 Para. 1 Z 1 BWG.<\/p>\n","protected":false},"excerpt":{"rendered":" The FMA warns investors against the conclusion of banking transactions requiring a licence with this provider.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[81],"tags":[],"class_list":["post-3106","post","type-post","status-publish","format-standard","hentry","category-warning"],"yoast_head":"\n
\nRegistered in United Kingdom, Number: 08951944
\nwith its alleged office at
\n145-157, St John Street, London,
\nEngland, EC1V 4 PW<\/p>