Persons according to 180a Act

With the entering into force of the Act regarding the supervision concerning persons according to article 180a PGR (180a Act) as of January 1, 2014 the FMA is responsible for the prudential supervision of persons, exercising activities according to article 180a PGR (Persons and Companies Act) either autonomously or dependently.

In particular, the FMA is responsible for granting, revoking or withdrawing licences, the inspection of the permanent compliance with licensing conditions, and the receipt of amendments (especially any amendment with regard to licensing conditions as well as amendments regarding residence or business address). Further for the termination of licences, the maintaining of a public register of licensees, and for responding to inquiries.

On an individual basis, the FMA can inform the public that a notably named person is no longer licensed to exercise activities according to article 180a PGR.

In addition, the FMA is in charge of the punishment of misdemeanors and of the due diligence supervision.

Moreover, the FMA cooperates with domestic and foreign authorities, protects clients by combating abuse, and levies fees and supervision tax.