法律研究

公开发行的金融产品销售方与发行方负有相同法律责任

Recently a ruling of the Supreme Court for Civil Matters was made about prospectus liabilities: Basically, issuers that publicly offer certain investments and securities must publish a prospectus. Nevertheless, providers other than the issuer who offered these financial products are also liable for the compliance with the prospectus obligations. With this new ruling the term provider is extended further. The regulations of the capital market act are interpreted in a way, that everyone who informs the investing public and to whom the information is attributed to is a provider (6 Ob 97/18k).

2018年9月28日

明确第三方费用

In a recent case, the Supreme Court for Civil Matters declares a clause of general terms and conditions of a bank as invalid which contained the phrase “Expenses of third-parties shall be passed on.”. The clause in question is non-transparent for the average consumer because it is listed among services of the bank itself such as reminder fees, fees for re-ordering of debit cards etc. This way the consumer gets the impression that charges of third parties have to be paid in any case. It is not clear for the consumer whether the expenses of third-parties are charged for outsourced services of the bank or for third-party services directly. According to the ruling, third-party expenses which are passed on have to be comprehensibly specified (1Ob57/18s).

2018年9月14日

最高院允许银行收取信息传输费用

The Supreme Court for Civil Matters ruled recently, that Banks may charge fees for the transmission of certain information according to the Austrian Payment Services Act 2015, if the customer requests the transmission. These charges concern only the transmission of the cited information within the scope of the framework contract. The transmission frequency shall not exceed once per month. It is also not required to transmit more than what is legally required (9Ob11/18k).

2018年8月31日

Fit & Proper … and impartial und independent and collective suitable and available and…

The Austrian Financial Market Authority (FMA) recently released a draft circular on fit & proper rules. As in previous versions of the circular, the new draft is largely based on guidelines by EBA and ESMA. The new edition includes reviews of the terms “propriety” and “independence” and also deals with the appointment of committee members. The circular also implements new rules on the collective suitability of members of a management body. The review process ended on 11.07.2018; it can be expected that the final circular will not differ materially from the draft.

2018年8月21日

New technologies require new measures

The risks resulting from the information and communication technology (ICT) require new solutions – also for banks. To this end, based on the relevant EBA-Guidelines, the Austrian Financial Market Authority (FMA) published guidelines for banks. Typical ICT–risks such as loss of or damage to the availability, integrity, access and security of ICT-infrastructure and data are addressed. In addition to the implementation of a strategy, the FMA guidelines recommend many specific measures to manage these risks.

2018年6月25日