The Austrian Financial Market Authority (FMA), inter alia pursuant to Article 4 para. 7 of the Austrian Banking Act (BWG; Bankwesengesetz), may inform the general public that a particular natural or legal person is not authorised to carry out certain banking transactions (Article 1 para. 1 BWG), where the said person has given cause for such an action and informing the general public is deemed necessary and reasonable with regard to possible disadvantages of the affected party.
By publication in the official gazette “Amtsblatt zur Wiener Zeitung” on 15.01.2021, the FMA hereby informs that
VC Management LLC
With its registered address apparently at:
First Floor, St. Vincent Bank Ltd Building, James Street, PO Box 1574,
Kingstown, St. Vincent and the Grenadines
are not entitled to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account nor on behalf of others (Article 1 para. 1 no. 7 BWG).
This news item was originally published by the Financial Market Authority (FMA AT). For more information, please see the Source Link.