ZRAK Private Bank

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The Austrian Financial Market Authority (FMA) may, pursuant to the first sentence of Article 4 para. 7 of the Austrian Banking Act (BWG) and/or the first sentence of Article 92 para. 11 of the 2007 Securities Supervision Act (WAG 2007), 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 or investment 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 those concerned.

By publication in “Amtsblatt zur Wiener Zeitung” of 31 March 2016, the FMA therefore announces that

ZRAK Private Bank
with alleged business location in

207 Regent Street
W1B 3HH London
United Kingdom

Tel: +44 20 71 01 41 22
E-Mail: zrak(at)zrak.uk
Internet: www.zrak.co.uk

is therefore not permitted to accept funds from other parties for the purpose of deposits (Article 1 para. 1 no. 1 second case BWG), or to provide non-cash payment transactions, clearing services and current-account services for other parties (Article 1 para. 1 no. 2 BWG), or to conclude money-lending agreements and extend monetary loans (Article 1 para. 1 no. 3 BWG), or to issue and administer payment instruments such as credit cards, bankers’ drafts and traveller’s cheques, with no limitation applicable to the term of crediting in the case of credit cards (Article 1 para. 1 no. 6 BWG), or to assume suretyships, guarantees and other forms of liability for other parties where the obligation assumed is monetary in nature (Article 1 para. 1 no. 8 BWG) or to engage in portfolio management by managing portfolios for individual customers who authorise a certain degree of management discretion where the customer portfolio contains one or several financial instruments (Article 3 para. 2 no. 2 WAG 2007).