{"id":39253,"date":"2022-06-10T14:07:11","date_gmt":"2022-06-10T12:07:11","guid":{"rendered":"https:\/\/www.fma.gv.at\/?p=39253"},"modified":"2022-06-13T12:54:10","modified_gmt":"2022-06-13T10:54:10","slug":"announcement-fma-imposes-measure-against-raiffeisenbank-muhlviertler-alm-egen-to-establish-legal-compliance-with-regard-to-its-organisational-measures-for-ensuring-proof-of-the-necessary-knowledge-an","status":"publish","type":"post","link":"https:\/\/www.fma.gv.at\/en\/announcement-fma-imposes-measure-against-raiffeisenbank-muhlviertler-alm-egen-to-establish-legal-compliance-with-regard-to-its-organisational-measures-for-ensuring-proof-of-the-necessary-knowledge-an\/","title":{"rendered":"Announcement: FMA imposes measure against Raiffeisenbank M\u00fchlviertler Alm eGen to establish legal compliance with regard to its organisational measures for ensuring proof of the necessary knowledge and competences of its staff members"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p class=\"wp-block-paragraph\">The Austrian Financial Market Authority (FMA) announces that an administrative decision has been issued to Raiffeisenbank M&uuml;hlviertler Alm eGen as a legal entity, under threat of a coercive penalty, to establish legal compliance pursuant to Article&nbsp;92 para.&nbsp;8 of the Securities Supervision Act 2018 (WAG 2018; Wertpapieraufsichtsgesetz 2018) in conjunction with Article&nbsp;70 para.&nbsp;4 no.&nbsp;1 of the Austrian Banking Act (BWG; Bankwesengesetz). The entity was instructed to adapt its internal procedures and control mechanisms in order to ensure that staff members providing investment services are able to prove that they possess the necessary knowledge and competences pursuant to Article&nbsp;55 WAG 2018 to do so.<\/p><p class=\"wp-block-paragraph\">In the mean time, Raiffeisenbank M&uuml;hlviertler Alm eGen has initiated measures for establishing legal compliance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FMA imposes measure<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[86],"tags":[],"class_list":["post-39253","post","type-post","status-publish","format-standard","hentry","category-information-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Announcement: FMA imposes measure against Raiffeisenbank M\u00fchlviertler Alm eGen to establish legal compliance with regard to its organisational measures for ensuring proof of the necessary knowledge and competences of its staff members - 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