Supervisory disclosure

Article 57 of Directive (EU) 2019/2034 (IFD) requires competent authorities to disclose certain information to improve the effectiveness of the single market for investment firms and to ensure an appropriate level of transparency for the general public.

With the information provided below, the FMA fulfils this requirement. The published information should enable a meaningful comparison of the approaches taken by the competent authorities of the different member states.

The disclosure requirements are set out in national law in Article 79 WPFG and are specified in further detail in Directive (EU) 2019/2034 and Regulation (EU) 2019/2033. In accordance with that regulation and on the basis of a draft by the European Banking Authority (EBA) in consultation with the European Securities and Markets Authority (ESMA), the European Commission sets out the format, structure, content lists, and annual publication date of the required information to be published by the competent authorities.

The FMA's disclosure requirements are divided into the following four sections: