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” of 21.01.2021, the FMA hereby informs that
Dundee Wealth Management AG
With its registered address apparently at:
Donau-City-Straße 7, 1220 Vienna, Austria
is not entitled to carry out banking transactions in Austria that require a licence. The provider is therefore not permitted to trade on a commercial basis in securities on its own account or on the account of others (securities business) pursuant to Article 1 para. 1 no. 7 lit. e BWG.
This news item was originally published by the Financial Market Authority (FMA AT). For more information, please see the Source Link.