The FMA warns investors against the conclusion of investment services requiring a licence with this provider.
The Austrian Financial Market Authority (FMA) may, pursuant to 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 is not entitled to carry out certain investment services (Article 3 para. 2 nos. 1 to 4 WAG 2007), 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 the person concerned.
By publication in “Amtsblatt zur Wiener Zeitung” of 1 July 2015, the FMA therefore announces that the operator of the website:
is not entitled to provide investment services in Austria that require a licence. The provider is therefore not permitted to engage in commercial 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 pursuant to Article 3 para. 2 no. 2 WAG 2007.