Amendment Of The Banking Act, Of The Stock Exchange Act 1989, The E-Money Law 2010, The Finality Act, Of Financial Conglomerates Act, Of The Financial Market Authority Act, Of Kapitalmarktg...

Original Language Title: Änderung des Bankwesengesetzes, des Börsegesetzes 1989, des E-Geldgesetzes 2010, des Finalitätsgesetzes, des Finanzkonglomerategesetzes, des Finanzmarktaufsichtsbehördengesetzes, des Kapitalmarktg...

Read the untranslated law here: https://www.global-regulation.com/law/austria/2997813/nderung-des-bankwesengesetzes%252c-des-brsegesetzes-1989%252c-des-e-geldgesetzes-2010%252c-des-finalittsgesetzes%252c-des-finanzkonglomerategesetzes%252c-des-fi.html

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145. Federal law that modifies the Banking Act, the Stock Exchange Act 1989, the E-money law 2010, the finality Act, the financial conglomerate law, the financial market Authority Act, the capital market law, the rating agency enforcement Act, the insurance supervision law, the securities supervision Act 2007 and the payment services act

The National Council has decided:

Table of contents article 1 transposition of directives of the European Union article 2 amendment of the Banking Act 1989 article 3 amendment to the Stock Exchange Act article 4 change of E-money law 2010 article 5 amendment of the finality Act article 6 amendment of the financial conglomerates Act article 7 amendment of the financial market Authority Act article 8 amendment of the capital market Act article 9 amendment of the rating agency enforcement Act article 10 amendment of the insurance supervision Act article 11 amendment of the securities supervision Act 2007 article 12 amendment of the payment Services Act article 1

This federal law is the implementation of the 1st directive 2010/76/EC amending directives 2006/48/EC, 2006/49/EC with regard to the capital requirements for the trading book and restart securitization and in regard to the supervisory review of remuneration policies (OJ No L 329 / from 14.12.2010, p. 3), as well as 2 directive 2010/78/EC amending directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC, and 2009/65/EC with regard to the powers of the European supervisory authority (European banking authority) , the European supervisory authority (European insurance and occupational pensions authority) and the European supervisory authority (European Securities and markets authority) (OJ No. L 331 of the 15.12.2010, p. 120).

Article 2

Amendment of the Banking Act

The Bankwesengesetz - BWG, BGBl. No. 532/1993, as last amended by Federal Law Gazette I no. 77/2011, is amended as follows:

1. in the table of contents will be after the entry "§ 7 termination" the following entry is inserted:

"Section 8 licence releases" 2. In the table of contents "section 39 b. principles of remuneration policy and practices" the following entry is inserted:

"§ 39c." Remuneration Committee"3. In the table of contents is "77. § and § 77a. International cooperation and data processing"the following entry is inserted:

"§ 77 b. colleges of supervisors and co-operation agreements" 4. § 2 No. 31 lit. a and lit. b sublit. AA are: ' a) a company established in a Member State, that transactions within the meaning of § 1 para 1 No. 7 lit. " b to f, Z 7a or Z 11 runs and 2004/39/EC is subject to the provisions of the directive;

b) an undertaking established in a third country, the aa) transactions within the meaning of § 1 para 1 No. 7 lit. operates b to f, Z 7a or Z 11,"5. Following Z 61a is inserted in article 2: "61a.
"Re securitization: securitisation, in which the risk associated with an underlying pool of claims is divided into tranches and one or more of the underlying assets is a securitisation position;"

6. in section 2, following Z 65a is inserted: "65a.
"Restart securitisation position: a risk position on a restart securitisation;"

7 § 3 para 3 No. 6 is: "6 approved firms in accordance with § 2 No. 31 lit. b, local companies, the transactions within the meaning of article 3, paragraph 1 lit. p of Directive 2006/49/EC operate and companies established in a third country in accordance with article 15, paragraph 1 No. 3, 4 and 6 BörseG, respectively in terms of business pursuant to section 1 para 1 No. 7 lit. b-f, and Z 7a, which commercially operate within the framework of its membership of a stock exchange, insofar as they are limited in Germany only on the commercial effect of the transactions covered by the approval as a member of the Exchange;"

8 the following paragraph 9 is added to section 3:

"(9) as regards compliance with § 39 para 2b Z 11, sections 40 and 41, as well as Regulation (EC) 1781/2006 is article 70, paragraph 1 Z 3 such application, that on spot checks by the FMA must be." Article 70 are not applicable in this regard. par. 1a and 1 b and section 79 (4)"

9. after article 7, the following article 8 together with the heading is inserted:

"Concession notices

§ 8. "(Die FMA hat mitzuteilen: 1. der Europäischen Kommission und der Europäischen Bankaufsichtsbehörde – EBA (Verordnung (EU) No. 1093/2010) a) the licensing requirements and b) every concession withdrawal pursuant to § 6 specifying the reasons 2. each licence pursuant to § 4 and 3 of the European Commission, the EBA and the European Banking Committee (EBC) approval of branch offices, the credit institutions established in a third country be granted."

10. in article 10, paragraph 8, the phrase "and the EBA" is inserted after the phrase "of the European Commission".

11 § 15 para 2 and 3 are:

"(2) hurt the recording of new business activities in Austria to prohibit the credit institution referred to in paragraph 1 despite the by the home Member State on the provisions referred to in paragraph 1, so the FMA under concurrent agreement of the competent authorities of the Member State of origin, the European Commission and the EBA 1 has measures used or to be used wholly or partially to prohibit conducting business the responsible leaders of the branch of the credit institution and/or 2 other violations.

(3) in the case of an urgent threat to the fulfilment of obligations of the credit institution referred to in paragraph 1 to its creditors, in particular for the security of the assets entrusted to him, the FMA to avert this danger may order temporary measures Nos. 1 and 2 by notification under simultaneous information of the competent authorities of the Member State of origin, the European Commission and the EBA pursuant to par. 2, which occur no later than 18 months after the start of effective override."

12 paragraph 20 b paragraph 3:

"(3) as long and as far as the European Commission para 9 of Directive 2006/48/EC has adopted no technical regulatory standards pursuant to article 19, has a list of details to set the FMA in accordance with of article 19a, paragraph 4 of Directive 2006/48/EC as amended by Directive 2007/44/EC by means of regulation, taking into account of the European conventions in this field, which the FMA are to be submitted." This information must be appropriate and necessary for the prudential assessment of the existence of the criteria referred to in paragraph 1 Z 1 to 5. The amount of the proportionate information has the nature of the proposed acquirer and the nature of the proposed acquisition and adapted to be. There are scope and type of involvement as well as the size and the divisions of the proposed acquirer and the credit institution where the acquisition is intended to take into account. In the regulation the FMA to regulate also kind and form of transmission of the information, to enable a rapid and precise identification of the application content."

13 paragraph 22, section 1:

"(1) credit institutions and groups of credit institutions 1 to 6 are always eligible own funds to the amount of the sum of the amounts in accordance with Z to have: 1. 8 per cent of the base determined in accordance with paragraph 2 for credit risk;"

2. the minimum capital requirement for all types of risk in the trading book in accordance with section 22o para 2;

3. the minimum capital requirement for commodities risk, settlement risk and foreign currency risk, including the risk from gold positions, each for positions outside the trading book;

4. the minimum capital requirement for operational risk in accordance with § 22i;

5. additional capital requirements in accordance with article 29, paragraph 4 and article 70 paragraph 4a. The determination of the net position in foreign currency is by offsetting positions in the, and is allowed outside of the trading book;

6. additional capital requirements for about the limits on large-scale investments in accordance with § 27, paragraph 16a claims also major risks.

Without prejudice to compliance with the minimum capital requirements and the additional capital requirements have to keep the initial capital required for a licence or the required initial Endowment as minimum capital. credit institutions"

14 § 22d para 6 is as follows:

"(6) a credit institution as originator or sponsor, that with regard to a securitisation has calculated the weighted exposure amounts in accordance with paragraphs 1 to 4 or sold instruments from its trading book to a securitisation special company that of for the particular risks of these instruments must hold no equity, may grant any non-contractual support to mitigate the potential or actual losses to investors as a result."

15 § 22 p para 2 is as follows:

"(2) the daily minimum capital requirement referred to in paragraph 1 is the sum of the values calculated in accordance with Nos. 1 and 2. Institutions that use an internal model for the calculation of minimum capital requirements for specific risk, have in addition a minimum capital requirement to charge, that is the sum of the values calculated in accordance with Nos. 3 and 4: 1.

The amount of risk the day before or the arithmetic mean of the daily amount of risk the last 60 business days, depending on whichever is the higher; the arithmetic mean of the daily risk amount in the last 60 days of business is a factor that set is by the FMA for each credit institution with at least three to multiply; in determining the factor, the FMA has to take into account the results of back-testing of the internal model chosen by the credit institution in accordance with paragraph 1, as well as the degree of compliance with the conditions referred to in section 21e para 1 No. 1 to 7;

2. either the last amount of available risk under stressed conditions, or the arithmetic mean of the risk amounts under stress conditions of the last 60 business days, depending on whichever is the higher; is the arithmetic mean of the risk amounts under stress conditions of the last 60 business days with a factor that set is by the FMA for each credit institution with at least three to multiply; in determining the factor, the FMA has to take into account the results of back-testing of the internal model chosen by the credit institution in accordance with paragraph 1, as well as the degree of compliance with the conditions referred to in section 21e para 1 No. 1 to 7;

3. calculated according to annex I of to Directive 2006/49/EC relating to the position risks of securitisation positions and nth-asset-to-default credit derivatives in the trading book minimum capital requirement; excluded from this are those position risks, that are involved in accordance with the criteria of § 22 p 5 Z 8 in the calculation of the minimum capital requirement;

4. either the latest or the arithmetic mean calculated over a twelve week period of the additional default and migration risk, depending on whichever is the higher, and, as far as applicable, either the latest or the arithmetic mean calculated over a twelve week period all according to the criteria of § 22 p 5 Z 8 to consider risks, depending on whichever is the higher."

16 § 22 p para 5 No. 7 is: "7 the criteria for the approval of the model for the calculation of the minimum capital requirement for specific risk and the additional default and migration risk;"

17. in article 22 p, par. 5, 8 is attached following Z: "8 the criteria for the approval of an internal approach to calculating an additional minimum capital requirements for specific risk of correlation trading portfolio."

18 § 23 paragraph 13 Z 4c and 4 d are: "4c.
Credit institutions using the internal ratings-based approach outlined in section 22 b, the overhang of expected loss amounts in accordance with section 22 b para 6 of the value adjustments and provisions, as well as the expected loss amounts, which in accordance with section 22; determined b para 10 Z 4 for investments

4 d is applied to an identified exposure amount of securitisation positions which with a weight of 1 250 per cent and would set the exposure amount of securitisation positions in the trading book, which with a weight of 1 250 per cent, if these securitizations were not part of the trading book of the same credit institution;"

19. in article 23, paragraph 13, following Z 4e is inserted: "4e.
"when calculating the own funds are the criteria to apply for a proper risk assessment on all asset items used at the market price and additional impairment requirements arising from the valuation at fair value of the core capital (para 14 Z 1) to pull off;"

20 § 23 paragraph 14 Z 8 is: "8 the sum of the amounts referred to in paragraph 13 is no. 3 to 4 d 2 to 7 to deduct half of the amount of the core capital pursuant to no. 1 and half from the total of the amounts in accordance with Z; If half of the sum of the amounts referred to in paragraph 13 Z 3 to 4 d is greater than the sum of the components referred to in no. 2 to 7, this excess amount of the core capital pursuant to no. 1 is to pull off; in accordance with paragraph 13 determined amount is Z 4 d not to withdraw, provided that this amount in the calculation of the weighted exposure amounts for the purposes of section 22 para 1 according to § 22a para 6, § 22 b para 3 No. 2 or § 22 p was included."

21 § 24 para 3a final part reads: "several subordinate institutions meet the requirements of the Z 1 or 2 and these are taken together for the goals of banking supervision not of minor importance, paragraphs 1 and 2 are to be applied."

22 paragraph 26 paragraph 9:

"(9), the FMA is the Z to use 1 information gathered on the remuneration policy for the detection of trends in this field, and to transmit the EEW in accordance with paragraph 7. To collect the information about the number of those employees of a credit institution located in the income level of at least one million euros and whose field of activity and the essential elements of the content, bonus payments, long-term awards and pension contributions and to deliver to the EBA are also."

23. According to article 27, paragraph 16, the following paragraph 16a is inserted:

"(16a) credit institutions can exceed the reasonable upper limit defined in para. 15 and 16, if the following conditions are met: 1 the excess arises solely from the trade book;"

2. the additional capital requirement according to section 22 para 1 No. 6 is met;

3. the excess lasts not more than ten days, so the risks of in the trading book to the client or group of connected clients must not exceed 500 vH of the own funds of the Institute;

4. all transgressions, which take longer than ten days, must not exceed together 600 vH of the own funds of the Institute and 5 shows the credit institution of the FMA's quarterly all cases where according to this paragraph, the appropriate upper limit set in accordance with paragraph 15 and 16 has been exceeded in the past three months,. To do this, the amount of the excess and the name of the customer concerned shall be indicated. "

24 section 27 par. 23, second sentence, is eliminated.

25 paragraph 30 subsection 9a:

"(9a) a credit institution, the parent undertaking of a credit institution within the meaning of article 4 is number 1 of Directive 2006/48/EC or a financial holding company with head office outside the community, shall be subject to any supervision on a consolidated basis in accordance with article 24, paragraph 1 or 4, so 1 has the FMA to examine whether this credit institution, supervision on a consolidated basis by the competent authority of the third country shall be subject to these supervisory Banking Act complies with the principles of section 24;"

2. has the FMA, if there is no equivalent supervision, to apply the provisions of § 24 BWG to the credit institution. In this case, the FMA is after consultation with the competent authorities of a third country and the EBA to carry out this review at the request of the parent undertaking authorised in the community or on its own initiative;

3. may require the FMA, if application of this regulatory technique is appropriate and agrees with the competent authority of the third country, to achieve the objectives of the supervision on a consolidated basis, that a financial holding company based in the European Community is established and applied the provisions relating to the supervision on a consolidated basis on the consolidated accounts of this holding company. The application of this regulatory technique is the competent authorities of the third country, the European Commission, the FMA to communicate the EBA and the competent authorities of the other Member States;

4. take into account the FMA pursuant to article 143 para 2 of Directive 2006/48/EC present general orientations of the European Banking Committee (EBC) and consulted, the EBA before deciding."

26. pursuant to section 39, b is inserted the following § 39 c together with the heading:

"Remuneration Committee

§ 39c. (1) in credit institutes of any legal form, whose balance sheet total exceeds one billion euro or which have issued transferable securities which are in 1989 admitted to trading on a regulated market in accordance with § 1 para 2 of the Exchange Act, a remuneration Committee is set up by the Supervisory Board, or otherwise by law or the statutes relevant supervisory body of the credit institution.

(2) the duties of the remuneration Committee b Z 1 to 10, the capital adequacy and liquidity, but also the long-term interests of shareholders, to take account of investors and employees of the credit institution are among monitoring of remuneration policy, remuneration practices and compensation-related incentive structures, each relating to the control, monitoring and control of risks pursuant to § 39 para 2.

(3) the composition of the remuneration Committee has to allow an independent and intellectually honest assessment of these issues. The remuneration Committee consists of at least three members of the Supervisory Board, and to have at least one person about technical knowledge and practical experience in the area of compensation policy (compensation expert). The function of the compensation expert from an expert members of the Supervisory Board do not may be exercised for credit institutions whose balance sheet total amounts to less than five billion euros. Chairman of the remuneration Committee or remuneration expert must not be, who in the last three years managing director or officer (article 80 AktG) of the relevant credit institution was or is for other reasons is not independent and unbiased.


(4) the remuneration Committee has to hold at least a session in a year."

27 § 40 paragraph 4 final part is: "the FMA has the competent authorities of the other Member States, the European Commission as well as in the extent in which it is relevant for the purposes of Directive 2005/60/EC and in accordance with the relevant provisions of Regulation (EU) no 1093/2010, of the Regulation (EU) no 1094/2010 and the Regulation (EU) No. 1095/2010 the EBA" ", the European supervisory authority for the insurance and occupational pensions authority - EIOPA (Regulation (EU) no 1094/2010) and the European Securities and markets authority - ESMA (Regulation (EU) No 1095/2010) to teach, in which the application of the measures necessary according to no. 1 is not allowed under the legislation of a third country and a solution within the framework of a coordinated approach could be sought on cases."

28 paragraph 40 paragraph 8:

"(8) that credit and financial institutions may be to fulfil the obligations according to article 40, paragraph 1, 2 and 2a Nos. 1 and 2 on third parties rely, as far as not evidence them, allowing doubt a generally obligations referred to. However, the ultimate responsibility for the fulfilment of these obligations will remain in credit or financial institutions, which rely on third parties. Considered third parties within the meaning of this paragraph, if they not only have a permission for conducting currency exchange business (§ 1 para 1 Z 22) have, 1 in article credit referred 3 Nos. 1 and 2 of Directive 2005/60/EC - and financial institutions, as well as in § 3 Z referred 4 ZaDiG payment institutions, 2. in article credit referred 3 Nos. 1 and 2 of Directive 2005/60/EC - and financial institutions, as well as in article 3 Z 4 called ZaDiG payment institutions in a third country, and 3. that article 2 para 1 No. 3 lit. a and b of Directive 2005/60/EC lays down that person ever on the condition that they are subject to a legally recognised compulsory registration with regard to their profession and must apply due diligence obligations towards clients and obligations for the storage of documents that correspond to the sections 40ff or in Directive 2005/60/EC or comply, and section 2 of this policy subject to supervision in accordance with chapter V , as regards compliance with the requirements of this directive, or are established in a third country which imposes requirements corresponding to those of this directive. The FMA shall inform the competent authorities of the other Member States, the European Commission, and to the extent in which it is relevant for the purposes of Directive 2005/60/EC and in accordance with the relevant provisions of Regulation (EU) no 1093/2010, of the Regulation (EU) no 1094/2010 and the Regulation (EU) No. 1095/2010 the EBA, the EIOPA and the ESMA case , in which a third country of considers complies with the above conditions. If the European Commission pursuant to article 40, paragraph 4 of Directive 2005/60/EC makes a decision, the Federal Government in consultation with the Policy Committee of the National Council shall by regulation the credit and financial institutions, to comply with the obligations referred to in paragraph 1, 2 and 2a Nos. 1 and 2 to prohibit recourse to third parties from the third country concerned. The credit and financial institutions have to get that third parties them that to fulfill the obligations according to para 1 and 2 para 2a, Nos. 1 and 2 and article 8 par. 1 lit. c of Directive 2005/60/EC without delay provide a necessary information. The credit and financial institutions have further to induce that the relevant copies of the data with regard to the identification and verification of the identity of the customer, as well as other relevant documentation on the identity of the customer or the beneficial owner of the third party immediately forwarded them on their request. "This paragraph does not apply to"Outsourcing"– or agency relationships where on the basis of a contract of"outsourcing"– service provider or agent as part of the credit - committed to the fulfilment of the obligations under paragraphs 1, 2 and 2a Nos. 1 and 2 or financial institution is to be."

29 § 40a paragraph 7 reads:

"(7) the FMA shall inform the competent authorities in the other Member States, the European Commission and to the extent in which it is relevant for the purposes of Directive 2005/60/EC, and in accordance with the relevant provisions of Regulation (EU) no 1093/2010, of the Regulation (EU) no 1094/2010 and the Regulation (EU) No 1095/2010 the EBA, the EIOPA and the ESMA case" ", in which a third country of considers complies with the conditions laid down in paragraphs 1, 2, or 4."

30 § 41 para 3b final part is: "the FMA has the competent authorities of the other Member States, the European Commission as well as in the extent in which it is relevant for the purposes of Directive 2005/60/EC and in accordance with the relevant provisions of Regulation (EU) no 1093/2010, of the Regulation (EU) no 1094/2010 and the Regulation (EU) No. 1095/2010 the EBA" , the EIOPA and the ESMA case to teach, in which a third country of considers complies with the conditions laid down in the Z 2 or 3. If the European Commission pursuant to article 40, paragraph 4 of Directive 2005/60/EC makes a decision, shall by regulation to prohibit a sharing of information between the credit and financial institutions and institutions and persons from the third country concerned. the Federal Government, in consultation with the Policy Committee of the National Council"

31 the following paragraph 9 is added to § the 41:

"(9) the FMA No. works 1093/2010, for the purposes of Directive 2005/60/EC in accordance with the Regulation (EU) Regulation (EU) no 1094/2010 and the Regulation (EU) No 1095/2010 with the EBA, the EIOPA and ESMA together and it provides all information required to carry out their duties on the basis of Directive 2005/60/EC, as well as the regulations referred to in this paragraph."

32. paragraph 69 paragraph 5:

"(5) the FMA in the enforcement of the provisions of this Federal Act, including the enactment and enforcement of the regulations adopted on this basis, to take account of the European convergence of supervisory tools and supervisory procedures. To this end, the FMA in the activities of the EBA has to participate and to apply the guidelines, recommendations, standards, and other measures adopted by the EBA. The FMA can deviate from these guidelines and recommendations, unless for legitimate reasons. In this case the FMA shall inform the EBA about their reasons for non-application or deviation from the relevant guidelines and recommendations."

33. the following paragraph 6 is added to § the 69:

"(6) the FMA to develop procedures, to replace so that credit institutions and groups of credit institutions not can avoid the additional capital requirements according to section 22 para 1 No. 6 with a risk period of more than 10 days, by the relevant risks are temporarily transferred to another company within or outside the Group of credit institutions or fictitious trades are made, the risk within a ten-day period and to take a new risk. The FMA tells these procedures the European Commission, the Council and the EEW."

34. § 73 ABS 1 Z 9 is: "9 any more than a month continued non-compliance with standards that are prescribed by this federal law in accordance with articles 22 to 25 and 29, as well as on the basis of adopted regulations or administrative decisions;"

35. paragraph 73 para 3:

"(3) the parent credit institution has the FMA name, legal form, to display seat and seat State of a parent financial holding company or parent mixed financial holding company, as well as any changes in writing without delay. The FMA is the European Commission, to submit a list of these financial holding companies of the EBA and the competent authorities of the other Member States."

36. paragraph 74 paragraph 2:

"(2) credit institutions have a report on compliance with the regulatory provisions referred to in §§ 22-22q, 23 to 25, basically total to 27 and 29 of the FMA. These reports must include information on the monitoring of compliance with these regulatory provisions as well as the relevant information for their derivation. Parent credit institutions have to make these messages for the credit institution group."

37. paragraph 74 paragraph 7:


"(7) the FMA has the reporting deadlines, to assess the structure and content of the messages and the reporting intervals referred to in paragraph 1 to 5 by regulation. The FMA may thereby determine that individual items of para 1, 2 and 5 in a longer interval are to submit. The FMA has to make necessary descriptive designation on one for the ongoing supervision of credit institutions and groups of credit institutions. In enacting this regulation it has on the national economic interest in a functioning banking sector to take caution and the way to take into account the size and complexity of the business of a credit institution. The FMA may, provide as far as them not degrades in the exercise of their functions to this or other federal laws, by regulation, that the transmission of messages is according to the par. 1 to 5 only to the Austrian National Bank. Regulations of the FMA under this paragraph shall require the consent of the Federal Minister of finance."

38. paragraph 77 para 2:

"(2) the FMA may obtain any information on activities of Austrian credit institutions in foreign countries and the situation of foreign credit institutions, working that can affect the Austrian banking system, if this is necessary in the national interest in a functioning banking sector or in the interest of the creditor protection. Are not delivered by a competent authority in a Member State essential information or rejected a request for cooperation, in particular to exchange of essential information, or not within a reasonable period of time acted such a request, the FMA may consult the EEW."

39. paragraph 77 paragraph 5:

"(5) the provision of information and the transmission of documents, including the transmission of data referred to in paragraph 4 is in the framework of mutual assistance allowed, as well as to 1 members of the European system of financial supervisors (ESFS);

2. competent authorities of third countries with which the Council of the European Union in application of article 39 of Directive 2006/48/EC has concluded an agreement;

3. competent authorities from other third countries, as far as the cooperation is required also in the Austrian banking supervisory interest and in accordance with international practices;

4. central banks of the European system of central banks and other institutions in the Member States with a similar function in their capacity as monetary authorities when this information for the exercise of their respective statutory tasks, including the conduct of monetary policy and the related provision of liquidity, the supervision of payment, clearing and securities settlement systems and the maintenance of the stability of the financial system are relevant;

5. finance ministries of the Member States;

of 6 risk. the European systemic Board, if this information for the exercise of its statutory tasks under the Regulation (EU) No. 1092/2010 are relevant.

The provision and transmission of information in accordance with no. 1 until 3 may each, if paragraph 1 of Directive 2002/87/EC required par. 2, article 129 and article 139 and 142 of the directive 2006/48/EC, or article 11 for the fulfilment of the tasks of the competent authorities in accordance with article 44. The provision and transmission of information to Nos. 4 and 5 is only permissible if this is required in crisis situations within the meaning of article 130 of Directive 2006/48/EC and to Z 5 also only in so far as the information for the purposes of article 130 of the aforementioned directive are relevant. The exchange of information must serve one paragraph 1 of Directive 2006/48/EC of equivalent professional secrecy of the fulfillment of tasks of the supervisory authorities with the competent authorities in accordance with Nos. 2 and 3 in accordance with article 46 of Directive 2006/48/EC on the condition with article 44. The exchange of information with authorities and institutions of the ESFS may only subject to articles 44 and 45 of Directive 2006/48/EC and article 35 of the Regulation (EU) No. 1093/2010 as well as to the fulfilment of the tasks of the authorities and institutions of the ESFS in accordance with articles 31 to 34 of the Regulation (EU) no 1093/2010 and of article 3 of Regulation (EU) No. 1092 / 2010 and to carry out the supervisory tasks according to § 77 (b) of paragraph 5 be. The spontaneous transmission of information is permitted under the above conditions. The FMA may forward only information referred to in paragraph 4 No. 19, if this has been expressly permitted by the competent authority which has transmitted that information."

40. paragraph 77 paragraph 7:

"(7) if the competent authorities 1 the Member State or 2 of the third country in accordance with paragraph 5 Z 2 or 3, in which the parent company is located, supervision on consolidated basis not even perform can official information also be given, if forwarded information to the authorities carrying out supervision on a consolidated basis even." "The disclosure of such information is permitted but only if it is used only for purposes of consolidated supervision, and within the meaning of article 44 paragraph 1 of Directive 2006/48/EC is equivalent professional secrecy."

41. paragraph 77 paragraph 8:

"(8) in the event of an emergency situation, including a situation within the meaning of article 18 of the Regulation (EU) no 1093/2010 or adverse developments in financial markets, which undermined the market liquidity and the stability of the financial system in a Member State, where were approved a company or major branches (sec. 18) built, could, has the FMA as consolidating supervisor in the para 5 No. 1 immediately" ", 4 to 6 mentioned point to warn and to provide them all the information essential for the carrying out of their duties."

42. § 77a paragraph 1 reads:

"(1) the Federal Minister for finance can upon the joint proposal of the FMA and Oesterreichische Nationalbank with competent authorities of other Member States and with competent authorities from third countries in accordance with § 77 para 5 Nos. 2 and 3, if the exchange of information with the competent authorities in accordance with article 46 of Directive 2006/48/EC, under the condition of article 44 paragraph 1 of Directive 2006/48/EC of equivalent professional secrecy" "that is the performance of supervisory tasks of that competent authorities, close agreement on the approach to the cooperation with the FMA and Oesterreichische Nationalbank in the exercise of their functions of monitoring and supervision of credit institutions in accordance with sections 69 to 71, if the Federal Minister of finance to the conclusion of agreements in accordance with article 66 par. 2 B-VG is authorized."

43. paragraph 2 deleted § 77a.

44. in § 77a para 3 is the phrase "referred to in paragraph 1 Z 2" is replaced by the phrase "referred to in paragraph 1".

45. the heading of § 77b is: "colleges of supervisors and co-operation agreements"

46. paragraph 77 b paragraph 1:

"(1) the FMA as consolidating supervisor (§ 2 Z 9 c) to fulfil its tasks in accordance with articles 129 and 130 paragraph 1 of Directive 2006/48/EC chaired by their supervisors to set up." While the FMA if necessary to ensure a proper coordination and cooperation with the relevant competent authorities of third countries. The modalities for the establishment and functioning of colleges of supervisors are to be determined after consultation with the competent authorities concerned. The FMA may conclude in connection with supervisors cooperation agreements with competent authorities of other Member States and with competent authorities in accordance with article 46 of Directive 2006/48/EC. In these agreements in particular the transfer of additional tasks to the consolidating supervisor in the sense of article 131 of Directive 2006/48/EC and in accordance with article 28 of the Regulation (EU) can no 1093/2010 and procedures of cooperation, in particular in accordance with § 21 g and section 77 c, as well as the cooperation of the FMA with the competent authorities of the Member States with regard to the articles 42 , 44 para 2, 131a and 139 to 142 of the directive 2006/48/EC or in article 11, paragraph 1 of Directive 2002/87/EC of listed exchange of information and the exchange of information are controlled with competent authorities in accordance with article 46 of Directive 2006/48/EC under the conditions there laid down. The EBA is the existence and contents of these cooperation agreements, provided that relate to these supervisors, to inform."

47. in paragraph 77b para 3 Z 4 the point is at the end with a semicolon replaced and following Z 5 added: "5. the EEW."

48. Article 77 (b) par. 4 and 5 are:

"(4) the FMA has to work together with the competent authorities and the EBA within by supervisors. Within the colleges of supervisors is to set together with other competent authorities of the framework for the following tasks: 1. Exchange of information among themselves and with the EBA in accordance with article 21 of the Regulation (EU) no 1093/2010;

2. If necessary, agreement on the voluntary sharing of tasks and responsibilities;

3. laying down Supervisory examination programmes based on a risk assessment of the Group of credit institutions in accordance with article 124 of Directive 2006/48/EC;

4.

Avoid unnecessary regulatory supervisory requirements, in particular in relation to the information requests in accordance with article 130, para. 2 and art. 132 para 2 of Directive 2006/48/EC, to improve the efficiency of supervision;

5. consistent application of the regulatory provisions of Directive 2006/48/EC to all companies of the Group of credit institutions without prejudice to this directive and electoral rights opened the directive 2006/49/EC, and discretion;

6. application of article 129 paragraph 1 lit. (c) of Directive 2006/48/EC, taking into account international standards in the field of cooperation of the competent authorities and prepare for crisis situations.

(5) the FMA the EBA on the activities of the colleges of supervisors, where she presides, both in normal and crisis situations to inform and to provide all information which for the purposes of the convergence of the supervisory activities of particular concern are subject to § 77 para 5, the EBA has."

49 b is added the following paragraph 6 § the 77:

"(6) the consolidating supervisor from another Member State does not adequately performs the duties referred to in paragraph 4 or other competent authorities cooperate with the FMA as a consolidating supervisory authority not to the extent that is necessary to carry out these tasks, the FMA may refer the EBA it."

50 section 77c paragraph 4 reads:

"(4) in the case of disagreements the competent authorities within the period referred to in paragraph 2, the FMA 1 as consolidating supervisor may consult the EBA. On request of one of the other competent authorities within the same time period, the FMA as consolidating supervisor has to consult the EBA. It was consulted, the FMA has to take into account their opinion in the cases referred to in paragraph 2, 5 and 6 in their decision and to justify any significant deviation in the decision;

2. the consolidating supervisor in another Member State request the consultation of the EBA;

3. No. 1093/2010 of the EBA refer the matter pursuant to article 19 of Regulation (EU); a joint decision of the supervisory authorities be concluded, the EBA may no longer petition on this matter."

51. section 77 c the following paragraph 9 is added:

"(9) concluded a joint decision within the period referred to in paragraph 2 and any of the other competent authorities refers the matter to the EBA 1093/2010, as has no. pursuant to article 19 of Regulation (EU) its decision to make back the FMA as consolidating supervisor until happened to decision of the EBA pursuant to article 19 (3) of that regulation. In this case, the FMA meets its decision in accordance with the decision of the EBA or after a period of one month in accordance with paragraph 5 or 6."

52. paragraph 105 paragraph 5:

"(5) as far as this federal law 2006/48/EC or Directive 2006/49/EC refers to the directive, is, unless otherwise arranged, each apply the following version: 1. Directive 2006/48/EC on the taking up and pursuit of the business of credit institutions (OJ" No. L 177 of the 30.06.2006, p. 1) as amended by the directive 2010/78/EC amending directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC, and 2009/65/EC with regard to the powers of the European supervisory authority (European banking authority) , the European supervisory authority (European insurance and occupational pensions authority) and the European supervisory authority (European Securities and markets authority) (OJ No. L 331 of the 15.12.2010, p. 120), and 2. Directive 2006/49/EC on the capital adequacy of investment firms and credit institutions (OJ No. L 177 of the 30.06.2006, p. 201) as amended by the directive 2010/78/EC amending directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC, and 2009/65/EC with regard to the powers of the European supervisory authority (European banking authority) , the European supervisory authority (European insurance and occupational pensions authority) and the European supervisory authority (European Securities and markets authority) (OJ (Nr. L 331 vondem 15.12.2010, S. 120). "

53. paragraph 105 paragraph 7:

"(7) as far as this federal law refers the Directive 2005/60/EC, is, if nothing else is arranged, the Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (OJ No. L 309, 25.11.2005, p. 15) as amended by the directive 2010/78/EC amending directives 98/26/EC, 2002/87/EC, 2003/6/EC, 2003/41/EC, 2003/71/EC, 2004/39/EC, 2004/39/EC, 2004/109/EC, 2005/60/EC, 2006/48/EC, 2006/49/EC, and 2009/65/EC with regard to the powers of the European supervisory authority (European banking authority) , the European supervisory authority (European insurance and occupational pensions authority) and the European supervisory authority (European Securities and markets authority) (OJ (Nr. L 331 vondem 15.12.2010, S. 120) to apply. "

54. the section 107 is added the following paragraph 74:

"(74) the table of contents in terms of §§ 8, 39c and 77b, section 2 Z 31, 61a 65a, § 3 para 3 No. 6, §8 together with heading, § 10, subsection 8, § 15 para 2 and 3, § 20 para 3, § 22 para 1, § 22d article 6, § 22 p, para. 2, 5 Nos. 7 and 8, § 23 paragraph 13 Z 4c and 4e, § 23 para 14 Z 8, § 24 para 3a" , Section 26 paragraph 9, section 27 paragraph 16a and 23, § 30 paragraph 9a, section 39c together with heading, § 40 paragraph 4 and 8, § 40 paragraph 7, article 41, para. 3 b and 9, § 69 para 5 and 6, § 73 para 1 Nos. 9 and 3, section 74, paragraph 2, and 7, § 77 para 2, 5, 7 and 8, § 77a para 1 to 3, § 77b ABS. 1, 3 Z 4 and 5 and paragraph 4 to 6 along with heading "that section 77c para 4 and 9, article 105 par. 5 and 7 and Z 13 of the annex to section 39b in the version of Federal Law Gazette I no. 145/2011 apply by 31 December 2011."

55. Z 13 of the annex to section 39b is: "13.
The mentioned principles are applied by credit institutions on level group, the parent company, subsidiaries and branch offices also in offshore financial centres; in the case of subsidiaries established in a Member State the legislation of the Member State concerned are."

Article 3

Amendment to the Stock Exchange Act 1989

The Stock Exchange Act 1989 - BörseG in 1989, BGBl. No. 555/1989, as last amended by Federal Law Gazette I no. 58/2010 as well as the by-laws Federal Law Gazette I no. 20/2011, is amended as follows:

1 the following sentence is added to in § 2 para 3:

"Any withdrawal of the concession is the European Securities and markets authority - ESMA (Regulation (EU) No 1095/2010) to tell."

2. § 14 para 1 No. 4 is: "4. the applicant or any of its Managing Director not § 48, 48B and 48 c legally was punished under the section, if not violation of section 48 or section 48 c is negligible, or the punishment is extinguished or" 3. § 14 para 2 second sentence reads:

"If the legal requirements are is - except for Member advertisers who rely on the membership requirements pursuant to § 15 para 1 Z 3, 4 or 6 and having its head office in a third country - obligation."

4. § 15 para 1 subpara 1 is: "1. credit institutions in accordance with section 1, paragraph 1, of the law on banking - Banking Act, Federal Law Gazette are no. 532/1993 entitled to exercise one of business pursuant to section 1 para 1 No. 7 and Z 7a BWG;"

5. § 15 para 1 subpara 2 lit. c is: "c) if the notification of the competent authority of the Member State of origin of the credit institution in accordance with § 9 ABS. 2 or 6 Banking Act or the investment firm in accordance with § 12 WAG 2007 is;" Local firms simply a confirmation of the competent authority of the Member State of origin or any other evidence of compliance with the requirements referred to in article 6 of Directive 2006/49/EC;"

6 § 15 para 1 No. 4 is: "4th company located in a third country (article 2 Z 8 BWG), the there to exercise one or more of the business pursuant to section 1 para 1 No. 7 lit." b to f, and Z 7a BWG are entitled;"

7 § 15 para 1 sub-para. 5 is: "5. recognized clearing houses in accordance with § 2 Z are 33 BWG with the proviso that also captures, which stores in one or more financial instruments within the meaning of § 1 WAG 2007 Z 6 handle and enter into these transactions even as a contractual partner as long as they have each a seat or an authorisation in a Member State of the EEA and participate only in the settlement;"

8 paragraph 15 paragraph 4:


"(4) recognized securities firms and other companies based in a third country which is not represented in the Basel Committee on banking supervision, members of a stock exchange must only as long as, as in the futures market at least a clearing participant to authorised (§ 2 Z 48 BWG) and in the spot market at least legitimate Bank, who / which one to his seat and admitted in a Member State or a third country" ", which in the Basel Committee on banking supervision is represented, and member of the domestic stock exchange is, the publicly traded companies compared with the of the approved investment firm or by the company on the domestic stock exchange transactions occurs and opposite for the fulfilment of guarantees the Exchange operating company."

9 the following paragraph 6 is added to § the 48q:

"(6), the FMA is ESMA annually a summary of information to and all pursuant to section 48 para 1 No. 2, § 48c and article 48q para. 3 and 4 of this section to submit administrative measures and sanctions imposed by her." The FMA known made an administrative measure or a sanction in accordance with paragraph 4 of the public, it shall inform the ESMA at the same time in."

10. in section 48r, after paragraph 1 of the following paragraph 1a is inserted:

"(1a) the FMA works no. 1095/2010 for the purposes of Directive 2003/6/EC in accordance with the Regulation (EU) with the ESMA. "The FMA is also the ESMA in accordance with article 35 of Regulation (EU) No. 1095/2010 all available information for the execution of their duties."

11 § 48r paragraph 2 subparagraph 3 is:

"The FMA is entitled to request information to carry out its tasks referred to in paragraph 1 the competent authorities of the other Member States. The FMA can deal if not within reasonable period of time will be followed her request for information or that was rejected, ESMA with this rejection or not follow-up within a reasonable period of time."

12 § 48r para 4 is the last sentence:

"The FMA can, if a competent authority of another Member State of investigation or the licence, that its officials are allowed to accompany the officials of the competent authority of the other Member State, within a reasonable time period followed her request for introduction or was rejected, the ESMA with this rejection or deal not subsequent performance within a reasonable period of time."

13. before 75a the heading 'Cooperation in the European economic area' is replaced by the heading "Annual document"

14. in article 76, paragraph 2 is after the phrase "of the European Commission" the phrase ", ESMA" inserted.

15. in section 81a para 2 is after the phrase "in accordance with article 27 paragraph 2" inserted the phrase "up to 2 c".

16 in § 83 para 2 is after the phrase "in accordance with article 27 paragraph 2" added the phrase "up to 2 c".

17. in article 84, paragraph 2 is after the phrase "pursuant to article 27 paragraph 2" inserted the phrase "up to 2 c".

18. in section 85, paragraph 7, the following sentence is inserted after the first sentence:

"The FMA must then notify the ESMA about the granted exemption."

19. in article 85, paragraph 10 is to the phrase "in accordance with article 27 para. 2" "the phrase"and measures for establishing general equivalence criteria for accounting standards that are relevant to issuers from more than one country, to adopt"are the phrase"up to 2 c"in no. 1 after the word", and in no. 2 after the word "the phrase"and to adopt measures for the evaluation for issuers from more than one country relevant standards"guaranteed" inserted.

20 paragraph 86 section 2:

"(2) the FMA by the European Commission in accordance with article 27 paragraph 2 to 2c of Directive 2004/109/EC adopted by comitology according to regulation to determine the procedures, after which an issuer, a holder of shares or other financial instruments, or a person within the meaning of article 92 to submit information referred to in paragraph 1 the Exchange operating company and the FMA has, to allow a filing by electronic means."

21 in § 86 para. 5 is to the phrase "in accordance with article 27 paragraph 2" inserted the phrase "up to 2 c".

22 the following records are added § 86 subsection 8:

"The FMA is authorised, ESMA cases to bring, in which a request for cooperation has been rejected or has led to no response within a reasonable period of time." The FMA has to cooperate in accordance with the Regulation (EU) No. 1095/2010 for the purposes of sections 81a to 94 with ESMA. The FMA is ESMA in accordance with article 35 of Regulation (EU) No. 1095/2010 available to all performing their tasks due to the sections 81a to 94 and that regulation provide necessary information. Official secrecy prevents the FMA does not mind to exchange confidential information or to forward information to ESMA or the Regulation (EU) No. of 1092/2010 a European systemic risk Board."

23. in section 86, paragraph 9 the phrase "and the ESMA" is inserted in the first sentence after the word "home Member State" the phrase "and the ESMA" and in the third sentence after the word "Commission".

24. in article 87, paragraph 5 is to the phrase "in accordance with article 27 paragraph 2" inserted the phrase "up to 2 c".

25. in paragraph 94 is after the phrase "in accordance with article 27 paragraph 2" inserted the phrase "up to 2 c", in the Z 3 eliminates the phrase "as well as the standard form to be used throughout the community for this purpose" and it eliminates the Z 4.

26 31 the following paragraph is added to article the 102:

"(31) § 2 para 3, § 14 para 2, § 15 par. 1 Z 1, 2 lit." "c, 4 and 5 and paragraph 4, section 48q para 6, § 48r par. 1a, 2 and 4, the heading before § 75a, § 76 para 2, section 81a para 2, § 83 para 2, section 84, paragraph 2, section 85, paragraph 7 and 10, section 86, paragraph 2, 5, 8 and 9, § 87 para. 5 and § 94 as amended by the Federal Act, Federal Law Gazette I no. 145/2011, December 31, 2011 into force."

Article 4

Change of the E-money law 2010

The E-money law 2010, Federal Law Gazette I no. 107/2010, is amended as follows:

1 the following paragraph 4 is added to § the 2:

"(4) § 25 para. 2 No. 4 is in compliance with § 19 para 3 Z 6 ZaDiG, §§ 40 and 41 BWG as well as Regulation (EC) 1781/2006 including the procedures with these terms in the context and data processing systems in the meaning of § 19 para 3 Z 4 ZaDiG such application, that on spot checks by the FMA must be." Notwithstanding article 22, para. 3 and article 25 paragraph 3 of this Federal Act §§ 70 in this respect are not applicable par. 1a and 1B, as well as 79 para 4 BWG."

2. § 41 receives the sales designation (1) and the following paragraph 2 is added:

"(2) section 2 paragraph 4 as amended by Federal Law Gazette I no. 145/2011 effective with December 31, 2011."

Article 5

Amendment of the Act of finality

The finality Act, Federal Law Gazette I no. 123/1999, as last amended by Federal Law Gazette I no. 91/2010, is amended as follows:

1. in section 2, paragraph 2 reads:

"(2) the Austrian National Bank has an agreement subject to the domestic law to carry out payment and transfer orders in accordance with § 10 according to common rules and standardised specifications, which complies with the requirements of Nos. 1 and 2 to recognise as a system by ruling, if the rules are useful on request of the participants. Once she has accepted the agreement as system, she has this as the article 2 lit. "a third indent of Directive 98/26/EC accordingly, as well as the system operator as referred to in article 10 paragraph 1 of Directive 98/26/EC competent authority, the European Securities and markets authority - ESMA (Regulation (EU) No. 1095/2010) to report."

2. paragraph 19:

"article 19. The Austrian National Bank informs ESMA in that she communicate para 2 of Directive 98/26/EC of insolvency proceedings in the other EEA Member States assets of participants in a system is as a domestic authority in accordance with article 6."

3. paragraph 20:

"article 20. The Austrian National Bank has you in accordance with article 75, paragraph 1 Z 3 IO filed notices to the European systemic risk Board, to forward the other authorities in accordance with article 6 para 2 of Directive 98/26/EC as well as ESMA immediately. The Austrian National Bank has in accordance with the Regulation (EU) No. 1095/2010 for the purposes of this Act the ESMA to collaborate. The Austrian National Bank has 1095/2010 to all for the execution of their duties provide necessary information available. ESMA in accordance with article 35 of Regulation (EU) No."

4 the following paragraph 4 is added to the article 23:

"(4) I will take no. 145/2011 § 2 par. 2, article 19, article 20 and article 24 as amended by Federal Law Gazette December 31, 2011 effect."

5. paragraph 24:

"§ 24. With the completion of this federal law is entrusted with regard to the other provisions of the Federal Minister of finance in terms of sections 15, 16, 17 and 18 of the Federal Minister of Justice."

Article 6

Amendment of the financial conglomerates Act

The financial conglomerate law - FKG, Federal Law Gazette I no. 70/2004, amended by Federal Law Gazette I no. 58/2010, is amended as follows:


1. in article 4, paragraph 3, the phrase "the Commission" is replaced by the phrase "the Joint Committee of European supervisory authorities".

2. in article 5, paragraph 6, the phrase is "has to consult the other competent authorities and to take into account, where appropriate, relevant guidelines, the financial conglomerates Committee in accordance with article 21, paragraph 5 of Directive 2002/87/EC has created. For this purpose it has to consult the Committee before deciding."by the phrase"she has the other competent authorities to consult. The FMA with the relevant from the other competent authority on the basis of article 18 is agreed, paragraph 1 of Directive 2002/87/EC decision so article finds 19 of Regulation (EU) No. 1093/2010 (OJ L 331 of the 15.12.2010, p. 12), the Regulation (EU) No. 1094/2010 (OJ L 331 of the 15.12.2010, p. 48) or regulation (EU) No. 1095/2010 (OJ (L 331 vondem 15.12.2010, S. 84) application. "replaced.

3. § 11 par. 2 following no. 4 is appended: "are contributions made 4 arrangements, so that in case of need to appropriate rehabilitation and procedures and plans and developed such procedures and plans. These provisions are to check regularly and adapt."

4. in article 12, paragraph 4, the phrase "Central banks, the European system of central banks and of the European Central Bank" is replaced by the phrase "Central banks, the European system of central banks, the European Central Bank, the European supervisory authority for the insurance and occupational pensions, the European banking authority, the European Securities and markets authority, the Joint Committee of European supervisory authorities and the European systemic risk Board".

5. § 12 the following paragraph 8 is added:

"(8) the FMA is the Joint Committee of European supervisory authorities in accordance with article 35 of Regulation (EU) No. 1093/2010, of Regulation (EU) no 1094/2010 and the Regulation (EU) No. 1095/2010 proceedings provided all information needed to carry out its tasks available."

6 the following paragraph 6 is added to in section 18:

"(6) § 4 para 3, § 5, article 6, § 11 para. 2 Z 4, section 12 paragraph 4 and paragraph 8 in the version of Federal Law Gazette I no. 145/2011 with 31 December 2011 into force."

Article 7

Amendment of the financial market Authority Act

The financial market Authority Act - FMABG, Federal Law Gazette I no. 97/2001, as last amended by Federal Law Gazette I no. 77/2011, is amended as follows:

1. in article 2, paragraph 1 is for the phrase "financial conglomerates Act, Federal Law Gazette I no. 70/2004," the phrase "in the rating agency enforcement Act - RAVG, Federal Law Gazette I no. 68/2010," added.

2. in article 2, paragraph 2, the phrase is "and the financial conglomerate Act, Federal Law Gazette I no. 70/2004" by the phrase "in financial conglomerates Act, Federal Law Gazette I no. 70/2004, and the rating agency enforcement Act - RAVG, Federal Law Gazette I no. 68/2010," replaced.

3. in article 18, paragraph 1, the last sentence reads:

"Communicated by the Austrian National Bank direct costs of banking supervision in accordance with § 79 para 4 b BWG and the insurance supervision pursuant to article 129 l VAG are in the profit and loss of the FMA under the other operating expenses separately, as far as they are in the area of bank supervision eight million euros and not exceed EUR 500 000 in the area of insurance supervision."

4. in article 19, paragraph 1 the following sentence is added:

"By the Austrian National Bank in accordance with § 129l VAG communicated direct costs of insurance supervision are to associate the accounting group 2, as far as they do not exceed €500,000."

5. paragraph 19 paragraph 5:

"(5) the FMA has to calculate the costs attributable 4 the last sentence on the single fee in accordance with paragraph for the preceding financial year on the basis of any financial statements immediately. The calculated amount is the received advance payments made for the previous financial year against targets. The difference here is to prescribe to the payment, unless not a credit balance in favor of the fee; Balances are to be paid out. For the next FMA financial year are to prescribe the paid advance payments amounting to 105% of the amount calculated in accordance with the first sentence in each. unless notified to b BWG and reported separately in the financial statements of the FMA direct bank supervision costs achieved by the Austrian National Bank in accordance with § 79 para 4 the amount of eight million euros and that pursuant to section 129 l VAG communicated to and in the financial statements of the FMA separately designated direct insurance supervision costs reached the sum of EUR 500 000, is contrary to the first part of the sentence this component equal to the advance payment of 100% to prescribe. On the basis of this Decree the paid have the prescribed amount in four equal parts until no later than 15 January, April, July and October of that year to make."

6 § 19 paragraph 5a is inserted after the following paragraph 5 b:

"(5B) the FMA has the Austrian National Bank for the direct costs of bringing statements in accordance with § VAG to pay reimbursement amounts 129 l 1." The reimbursement amounts are on the basis of which for each previous fiscal year pursuant to section 129 l para 3 VAG communicated direct cost to measure and exceeding EUR 500 000. The reimbursement shall be made no later than end of March of the next following fiscal year."

7 in the § § 22, 22 c and 22d is after the phrase "section 47 PKG" both the word and string ", § 5 para 1 RAVG" deleted.

Article 8

Change of the capital market law

The capital market law – KMG, BGBl. No. 625/1991, as last amended by Federal Law Gazette I no. 69/2008 is amended as follows:

1 § 8a para 6 is as follows:

"(6) the FMA may transfer the approval of a prospectus to the competent authority of another Contracting State of the EEA, if the European Securities and markets authority - ESMA (Regulation (EU) No 1095/2010) has been informed in advance about and the competent authority so agrees." Such a transfer is the issuer, to inform the provider or the person applying for the admission to trading on a regulated market within three working days from the date on which the FMA has taken its decision. The FMA cannot assume the approval of a prospectus by the competent authority of the Member State of origin of another EEA Contracting State. The deadline in this case from the date of the decision of the competent transmitting authority in accordance with paragraph 3. Possible misconduct by the competent authority of another Contracting State of the EEA is not attributable to the Republic of Austria as a legal entity. Article 4 para which regulation (EU) No. 1095/2010 is on the transfer of the approval of the prospectus in accordance with this paragraph not apply 28."

2. § 8a paragraph 7 reads:

"(7) the prospectus with the approval in time to send that present you at the latest at the date of publication is the registration office by the issuer, the offeror or the person applying for the admission to trading on a regulated market. The FMA itself has to open the brochure of the ESMA immediately after approval. This applies also to the approvals of changes and additions."

The following paragraph 9 is added to 3. § 8a:

"(9) the FMA has to teach the ESMA at the same time on the approval of the prospectus and any prospectus supplements, how she taught also the issuers, the provider or the person for the admission to trading on a regulated market. The FMA is also at the same time send a copy of the prospectus and any prospectus supplements the ESMA."

4. in article 8 of para 1 first sentence, the phrase "and the (ESMA)" is inserted after the word "FMA".

5. in article 8 of para 3 first sentence, the phrase "and the ESMA" is inserted after the word ' host Member State '.

6 paragraph 8c:

"section 8c." (1) the FMA as competent authority of the host Member State finds that irregularities have been committed by the issuer or by the financial intermediaries charged with the placement of the public offer or that the obligations which result from the admission of securities to trading on a regulated market, the issuer has not complied, so they the competent authority of the Member State of origin and the ESMA is concerned with those findings.

"(2) the issuer or with the placement of the public offer is commissioned intermediaries despite the measures taken by the competent authority of the home Member State or because prove this as inappropriate continue against the relevant legislative, regulatory or administrative provisions, the FMA as competent authority of the host Member State after prior notification of the competent authority of the Member State of origin and the ESMA shall take all the measures necessary for the protection of investors and shall inform the Commission and the ESMA as soon as possible of them."

7 the following paragraph 9 is added to § in 10:


"(9) the FMA as competent authority of the host Member State has a list on its website to publish her in accordance with § 8 b submitted certificates on the approval of prospectuses and all prospectus supplements, if necessary, including an electronic link (hyperlink) to these on the website of the competent authority of the Member State of origin, of the issuer or the regulated market published documents. The published list is always kept up to date to keep, and every entry has to be available on the Web sites for at least twelve months."

8 paragraph 16 b paragraph 2:

"(2) para 1 prevents the FMA and the competent authorities of the other EEA Contracting States not to share confidential information or to forward confidential information to ESMA or the European systemic risk (Board ESRB) Board, subject to the Regulation (EU) No 1095/2010 or the Regulation (EU) No. limitations provided 1092/2010 on the financial supervision of the European Union at the macro level and the establishment of a European Committee for systemic risks in business-related information and effects on third countries." That this way between the FMA, the competent authorities of the other Contracting States of the EEA and ESMA or the ESRB fall on information exchanged under the professional secrecy to which the persons are bound, are working with the competent authorities which receive this information, or were."

9 section 16c receives the sales designation (1) and the following paragraph 2 is added:

"(2) the FMA can be addressed the ESMA with cases where a request for cooperation, in particular to exchange of information, has been rejected or has led to no response within a reasonable period of time."

10 the following paragraph 14 is added to the § 19 paragraph 13:

"(14) Article 8a, paragraph 6, 7 and 9, article 8 (b) par. 1 and 3, § 8c, section 10 paragraph 9, section 16 para 2 and § 16c para 1 and 2 as amended by the Federal Act, Federal Law Gazette I no. 145/2011, apply by 31 December 2011."

Article 9

Amendment of the rating agency enforcement Act

The rating agency enforcement Act - RAVG, Federal Law Gazette I no. 68/2010, is amended as follows:

1 in the heading that is to § 2 of the table of contents for the word "Competent" word order "and sectoral competent" inserted.

2. the heading to § 4 of the table of contents is as follows:

' Section 4 support in the European supervision of credit rating agencies "3. In the table of contents, the following entry is inserted after "section 9 execution":

"Section 10 transitional provision" 4. In article 1, paragraph 1 is after the phrase "credit rating agencies (OJ No. L 302 of 17.11.2009, p. 1) "the phrase" as amended by the Regulation (EU) No. 513/2011 amending Regulation (EC) No 1060/2009 on credit rating agencies (OJ "" No. L 145 of 31.5.2011, p. 30) "inserted."

5. articles 2 to 4 and headings are:

"Competent and sectoral competent authority

§ 2. The FMA is the competent authority as well as the respective sectoral competent authority for the purposes of EC regulation for the EEA Member State Austria. It carries out the tasks coming to a competent or sectoral competent authority in accordance with the EC regulation and powers without prejudice to the tasks assigned to it in other federal laws. Within the framework of its supervisory activities as competent or sectoral competent authority it has in particular the guidelines pursuant to article 21 of the EC regulation to take into account.

Supervisory

3. (1) the FMA as sectoral competent authority within the meaning of the EC regulation has compliance with the obligation under article 4 para 1 UA 1 of the EC regulation to monitor. She makes this monitoring as a supervisory task the true for the addressees of article 4 paragraph 1 of the EC Regulation relevant supervisory laws. Here are you in the same way and to the same extent the supervisory powers and funds from the applicable supervisory laws available, which it also in the enforcement of any other obligations after pursuant to article 4, paragraph 1 of the EC regulation can serve European legislation referred to.

(2) the FMA can cooperate with authorities and central banks from third countries, which perform a function, that of a competent authority or sectoral competent authority in accordance with article 3 par. 1 lit. p or lit. r corresponds to the EC regulation. This cooperation is permitted, insofar as it is necessary for the performance of a task referred to in sentence 1 and the information forwarded in the context of this cooperation with the authorities and central banks the article 32 of the EC regulation are subject to equivalent professional secrecy and are in accordance with chapter IV of Directive 95/46/EC. The FMA can make use solely for the purpose of cooperation under this paragraph of its powers; This applies even if preliminary proceedings in the third State because of conduct underlies the cooperation, that represents no violation of a provision of applicable in Austria.

Support in the European supervision of credit rating agencies

§ 4. The FMA supports the European Securities and markets authority (European Securities and markets authority (ESMA), and their representatives in accordance with the provisions of the EC regulation. "The FMA can also aid in accordance with § 21 ABS. 1, 2 and 4 FMABG in claim take."

6 paragraph 5:

"Section 5 (1) who ratings contrary to article 4 paragraph 1 UA 1 of EC Regulation used commits an administrative offence and is to be punished by a fine of up to EUR 30 000 by the FMA."

"(2) if the information required in prospectuses under article 4 para 1 UA 2 of EC regulation violates, commits an administrative offence and is to be punished by a fine of up to EUR 30 000 by the FMA."

7 paragraph 6 section 4:

"(4) the FMA has sanctions pursuant to section 5 by proclamation in the Internet, print in the"Amtsblatt zur Wiener Zeitung"or a in a newspaper with circulation in the whole country to make, unless such disclosure would significantly endanger the stability of the financial markets or inflict disproportionate harm those involved." The disclosure measures may be taken also cumulative."

8 paragraph 5 deleted § 6.

9. in article 6, paragraph 6, first sentence is omitted the phrase "or 5" after the phrase "in accordance with paragraph 4".

10 paragraph 2 deleted § 7.

11. According to section 9 the following article 10 together with the heading is added:

"Transitional provision

§ 10. "On procedures for the registration of credit rating agencies, which the registration request up to September 7th, 2010 at the competent authorities of the home Member State or the concerned College is received and para. 1 of the EC regulation on ESMA to be delivered not according to Article 40a, finds this Act in the version of Federal Law Gazette I no. 68 / 2010 application."

Article 10

Amendment of the insurance supervision Act

The insurance supervision Act - VAG, BGBl. No. 569/1978, as last amended by Federal Law Gazette I no. 77/2011, is amended as follows:

1. paragraph 61 b paragraph 5:

"(5) the number of the Association in a joint-stock company, in which he his insurance business, has introduced among 26 vH of the voting shares is declining, so this the FMA is notified to. The FMA has 1 applying the Association to establish the legitimate State within a reasonable period of time;

2. in the repeat or where the Club to resolve. The supreme body of the Association has to perform the processing in accordance with § 57 after the dissolution by the FMA and to adopt a management plan. The settlement plan requires the approval of the FMA. The approval is to fail, if the interests of the members are not sufficiently protected.

Several clubs have brought their insurance business into a joint-stock company is that, if the sum of their shares under 26 per cent declines to proceed at all these clubs in accordance with this paragraph."

2. in article 61 b para 6 replaces "paragraph 5 is not to apply" the phrase "which is resolution in accordance with section 5 and section 61e, paragraph 1" the phrase.

3. in section 61e, paragraph 1 the phrase replaced "causes no dissolution of the Association" by the phrase "is article 61 paragraph 5 b does not apply".

4. section 61e para 1 No. 2 is: "(2. wenn und solange der Verein a) (in the other companies at least 26 vH of the voting shares has immediately, b) at least 26 vH on the joint-stock company holding voting shares and holds these more than 50 per cent of the voting shares in the other company and the relevant influence ability of the Association to the other company articles of association provisions or by any other legal basis is achieved or c) of the undertaking or to the joint-stock company" Shares with voting rights immediately stops and by statute provisions or by any other legal basis within the meaning of the lit. a comparable significant influence of the Association on the other companies or in terms of the lit. b comparable significant influence of the Association on the joint-stock company and the other companies is ensured.

The influence after lit. b and lit. c, as well as any change of the levers are to prove the FMA".

5. According to section 61e, paragraph 2, the following paragraph 3 shall beadded:


"(3) any violation of the provisions of paragraph 1 is no. 2 to display the FMA without delay. The FMA has 1 applying the Association to establish the legitimate State within a reasonable period of time;

2. in the repeat or where the Club to resolve. The supreme body of the Association has to perform the processing in accordance with § 57 after the dissolution by the FMA and to adopt a management plan. The settlement plan requires the approval of the FMA. The approval is to fail, if the interests of the members are not adequately safeguarded."

6. after section 61e, paragraph 3 the following paragraph 4 is added:

"Several associations to the same date in accordance with article 61a (4) were introduced into a joint stock company and are these associations 1 in the case of paragraph 1 subpara 2 lit. (a) on the other companies, 2. in the case of para 1 subpara 2 lit. b on the joint-stock company involved, shall comprise its shares. In the case of para 1 subpara 2 lit. c is the share exercisable influence of several clubs determined."

7 § 61f para 3 Z 3 is: "3. decreases the percentage of the private foundation in the stock company, in which the converted Club has tabled its insurance operation, at 26 per cent of the voting shares, Z 3a shall apply. "The private foundation to a public limited company is involved in several clubs, brought its insurance operation Z 3a shall only apply, if their share of the joint-stock company together with the share of the respective clubs or, as far as these have been converted into a private foundation, the concerned private foundations under 26% falls."

8. in section 61f para 3 3 following Z 3a be inserted after the Z up 3d: '3a.
Shrinks according to no. 3 among 26 vH of the voting shares, the FMA is notified to. The FMA has a) to apply the private foundation, to establish the legitimate State within a reasonable period of time;

(b) in the repeat or where the private foundation to resolve. After the dissolution of the FMA pursuant to § 57 to make the settlement, where has the Board of Directors in the place of the Association private foundation and to decide the place of members who are beneficiaries, and a settlement plan. The settlement plan requires the approval of the FMA. Approval shall be refused if the interests of the beneficiaries are not sufficiently protected.

3B.
If a restructuring carried out in accordance with section 61e, are a) Z 3a, section 61e para 1 No. 1 and section 61e para 2 last clause not apply;

b) section 61e para 1 subpara 2 and paragraph 2 shall apply, that each at the point of the Association the private foundation, in the place of the interests of the members the interests of beneficiaries and the membership at the Club replaces the favouritism in the private foundation;

c) section 61e subsection 3 and section 61e para 4 apply.

3 c. Z 3a is not to apply if more than half of the total assets of the private foundation, measured in the Foundation balance sheet last checked in companies in accordance with § 86f is predisposed. The private foundation of a subsidiary in the sense of § 244 UGB is involved, so all assets of the subsidiary can be included in the calculation of total assets in addition pro rata to the extent of participation of the private foundation of the subsidiary; the percentage of the private foundation of the subsidiaries is eliminated in this case. The Corporation, in which the converted Association, has introduced insurance business under section 61a has to belong to the company in accordance with § 86f to more than 50 per cent of the voting shares. Shares in the share capital and shares of capital in accordance with article 73 c are to include, if the shares in the company in accordance with § 86f to meet the capital requirement at group level are chargeable in the investment in companies in accordance with § 86f. The statutory auditor has to assess compliance with this provision in the course of the audit of the annual financial statements and report. The Board of Directors has to ensure ongoing compliance with this provision in the interests of the beneficiaries and immediately show the violation of this provision to the FMA. The FMA has a) to apply the private foundation, to establish the legitimate State within a reasonable period of time;

(b) in the repeat or where the private foundation to resolve. After the dissolution of the FMA pursuant to § 57 to make the settlement, where has the Board of Directors in the place of the Association private foundation and to decide the place of members who are beneficiaries, and a settlement plan. The settlement plan requires the approval of the FMA. Approval shall be refused if the interests of the beneficiaries are not sufficiently protected.

3D. the insurance companies of several insurance associations in accordance with article 61a were introduced and these associations together with the private foundation of companies in accordance with § 86f are invested according to z 3 c, Z 3a is not applicable.

3E. subsequent amendments to the Foundation Declaration, which become necessary through the use of the Z 3B or 3 c Z, are to decide by the organs of the Foundation. The modification decision requires the approval of the FMA. Approval shall be refused if the modified Foundation statement is equivalent to not meet the requirements of this federal law or the interests of beneficiaries are vulnerable to the change of the Declaration of the Foundation. The change in the Declaration of the Foundation is to login by the Foundation Board of Directors for the registration in the register of companies. The notarized change decision and the decision of the FMA, with the modification decision was approved to add are the registration. "The Court (§ 40 PSG) registering the change of Foundation Declaration of the FMA has the decision to deliver."

9. in section 61f para 3 Z 5 the following sentence is added:

"Is guaranteed ensuring the beneficiaries according to para 3 Z 3 c, also amounts in amount of shares in the share capital and the amounts of the shares of capital in accordance with section 73 c companies in accordance with § 86f can will be added to the reserves."

10 § 98b 8 final part reads: "the FMA has the competent authorities of the other Contracting States, the European Commission and to the extent in which it is relevant for the purposes of Directive 2005/60/EC and in accordance with the relevant provisions of Regulation (EU) No. 1093/2010 (OJ" L 331 of the 15.12.2010, p. 12), the Regulation (EU) No. 1094/2010 (OJ L 331 of the 15.12.2010, p. 48) and the Regulation (EU) No. 1095/2010 (OJ (L 331 vondem 15.12.2010, S. 84) the European banking authority - EBA (Regulation (EU) no 1093/2010), the European supervisory authority for the insurance and occupational pensions authority - EIOPA (Regulation (EU) no 1094/2010) and the European Securities and markets authority - ESMA (Regulation (EU) No 1095/2010) cases to inform, where the application of the measures necessary according to no. 1 is not allowed under the legislation of a third country and a solution within the framework of a coordinated approach could be pursued. "

11 § 98c paragraph 5 reads:

"(5) the FMA shall inform the competent authorities in the other Contracting States, the European Commission and to the extent in which it is relevant for the purposes of Directive 2005/60/EC, and in accordance with the relevant provisions of Regulation (EU) no 1093/2010, of the Regulation (EU) no 1094/2010 and the Regulation (EU) No 1095/2010 the EBA, the EIOPA and the ESMA case" ", in which a third country of considers complies with the conditions laid down in paragraph 1."

12 § 98e para 2 final part reads: "the FMA shall inform the competent authorities of the other Contracting States, the European Commission and to the extent in which it is relevant for the purposes of Directive 2005/60/EC and in accordance with the relevant provisions of Regulation (EU) No. 1093/2010, of the Regulation (EU) no 1094/2010 and the Regulation (EU) No. 1095/2010 the EBA" ", the EIOPA and ESMA about cases in which a third country of considers complies with the above conditions."

13 § 98f para 5 final part is: "the FMA has the competent authorities of the other Contracting States, the European Commission as well as in the extent in which it is relevant for the purposes of Directive 2005/60/EC and in accordance with the relevant provisions of Regulation (EU) no 1093/2010, of the Regulation (EU) no 1094/2010 and the Regulation (EU) No. 1095/2010 the EBA" , the EIOPA and the ESMA case to teach, in which a third country of considers complies with the conditions laid down in the Z 2 or 3. If the European Commission pursuant to article 40, paragraph 4 of Directive 2005/60/EC makes a decision, shall by regulation to prohibit a sharing of information between insurance companies and persons from the third country concerned. the Federal Government, in consultation with the Policy Committee of the National Council"

14 § 98f paragraph 7 reads:


"(7) other nullity data allowed by the authority to the detriment of the accused person or first, (money laundering hotlines (section 4, paragraph 2, of the Federal Criminal Police Office Act, Federal Law Gazette I no. 22/2002)) were identified in accordance with paragraph 1, 2 or 6 in only because of financial offences, with the exception of the falling within the jurisdiction of the courts financial crimes, smuggling, evasion of input or output taxes and the financial crimes in accordance with § 38a and section 39 FinStrG" , guided procedures cannot be used. "Results from the Authority (money laundering hotlines (section 4, paragraph 2, of the Federal Criminal Police Office Act, Federal Law Gazette I no. 22/2002)) only a suspicion of an offence referred to in the first sentence, so she has the display in accordance with § 78 StPO or article 81 of the financial criminal act, Federal Law Gazette No. 129/1958 (FinStrG), to refrain from."

15 10 the following paragraph is added to section the 98f:

"(10) the FMA No. works 1093/2010, for the purposes of Directive 2005/60/EC in accordance with the Regulation (EU) Regulation (EU) no 1094/2010 and the Regulation (EU) No 1095/2010 with the EBA, the EIOPA and ESMA together and it provides all information required to carry out their duties on the basis of Directive 2005/60/EC, as well as the regulations referred to in this paragraph."

16. in article 107 b paragraph 1 Z 7 is at the end of a sentence the word 'and' appended.

17 § 107 b paragraph 1 is to the Z 7 following Z 8 added: "8 indicating in accordance with § 61 b paragraph 5 first sentence, section 61e para 3 first sentence, section 61f para 3 Z 3a first sentence, section 61f para 3 Z 3 c sixth sentence" 18. The following paragraph 30 is added to § 119i paragraph 29:

"(30) § 98b 8 final part, § 98 c para 5, § 98e section 2 final part, article 98f par. 5 trailer and article 98f paragraph 10 as amended by Federal Law Gazette I no. 145/2011 apply by 31 December 2011."

19. According to § 129 k, 129 the following section is inserted l:

"§ 129 l." (1) before the approval by internal or partial internal model in accordance with Directive 2009/138/EC, OJ No. L 335/1 of December 17, 2009 (Solvency II) has an advisory statement of the Austrian National Bank in that regard to overtake the FMA, as these models that include market risk module, or parts of the market risk module. The Austrian National Bank has to assess whether the market risk module or, if necessary, parts of the market risk module comply with the applicable requirements.

(2) the Oesterreichische Nationalbank has advisory statements referred to in paragraph 1 on its own responsibility and in his own name. The FMA has as far as possible be based on the opinion of the Austrian National Bank and can rely on its accuracy and completeness, unless it has reasonable doubts as to their accuracy or completeness. The Austrian National Bank has opinions of the concerned undertaking to submit to the FMA without delay.

(3) which is Oesterreichische Nationalbank 1 a list of her in the respective fiscal year from next statements referred to in paragraph 1 arising direct costs to create and by the Auditors pursuant to § 37, no. 50/1984 (NBG), check National Bank Act, Federal Law Gazette, to submit 2. the approved establishment of the FMA until April 30th of the following fiscal year, estimated direct costs from next statements referred to in paragraph 1 for the following year of the FMA to 30 September each year to share with 3 and

4. the engaged the Federal Minister for finance and the FMA annually on the number of servants next statements according to para 1 in the annual average to inform; This information can also be performed through of a publication."

20. in paragraph 131 Z 1 is the reference "of § 61 b paragraphs 1 and 2, 3 first sentence, 4 first to third set, 5, and 6 first sentence" the reference "of § 61 b paragraphs 1 and 2, 3 first sentence, 4 first and third sentence, 6, first sentence," and the reference "of section 61e, section 61f, para 1, para 3 Z 1 to 4" , 6 and 7, paragraph 5 Nos. 1 to 5, para 7 and 8 "with the reference" 61e para 1 Nos. 1 and 4, of section 61f para 1, para 3 Z 1-3, 3B, 3d and 3e, 4, 6 and 7, paragraph 4 Nos. 1 to 5, para 6 and 7 "replaced.

21. in paragraph 131 after the Z 1 following Z 1a inserted: '1a.
"in terms of article 61 (b) paragraph 5, section 61e para 1 subpara 2 and 61f para 3 Z 3c of the Federal Minister of finance in agreement with the Federal Minister of Justice;"

Article 11

Amendment of the securities supervision Act 2007

The securities supervision Act 2007 - WAG 2007, Federal Law Gazette I no. 60/2007, amended by the Federal Act Federal Law Gazette I no. 99/2011, is amended as follows:

1. in the table of contents is to "§ 97. point of contact and exchange of information" the following entry is inserted:

'article 97a. Cooperation and exchange of information with the ESMA"2. In the table of contents, the following entry is inserted after "article 98. cooperation in monitoring, verification on the spot and in investigations":

'article 98a. Binding mediation"3. § 69 paragraph 6 is no. 1:" 1 once a year for each stock on the basis of the arithmetic average value of the orders executed in the market for this stock to set the respective class of shares and the information on their website to publish and the European Securities and markets authority - ESMA (Regulation (EU) No 1095/2010) to submit; " Articles 33 and 34 of Regulation (EC) no 1287/2006 shall apply;"

4. in section 91 paragraph 2 No. 3 is inserted the phrase ", the European Commission, the ESMA" after the phrase "the Federal Minister of finance".

5. paragraph 91 section 5:

"(5) the transmission of data referred to in paragraph 4 and the conclusion of agreements in accordance with § 97 paragraph 7 are permissible as well as responsible for securities supervision authorities of Member States, in the framework of mutual assistance as far as necessary for the execution of tasks, the tasks of the FMA to this federal law, the Stock Exchange Act 1989, Regulation (EC) no 1287/2006 or regulation (EC) No. 2273/2003 of the Commission meet" ' that is required, or for other legal tasks under the supervision of the financial market of the applicant for securities supervision authority is required, and if a substantiated request is the forwarded data with these authorities are subject to the obligation of professional secrecy pursuant to article 54 of Directive 2004/39/EC. '

6 paragraph 92 paragraph 12:

"(12) the FMA has to provide information about the scope of the licence by entities referred to in article 91, paragraph 1 Nos. 1 and 2 on individual request within reasonable time. The FMA all entities registered and has to keep a database that contains information about the current scope of the existing concessions of this legal entity, and to enable a query of this data via Internet. ESMA is every authorisation and any withdrawal of the authorisation to be communicated. The FMA has to do further in this database are entitled in Germany for the provision of investment services by way of freedom to provide services or through a branch office, if this activity in the country in accordance with article 31 or 32 of Directive 2004/39/EC has been notified a directory of investment firms from Member States."

7 13 the following paragraph is added to § the 92:

"(13) the FMA tells the complaints and redress procedures of ESMA are designed in Austria."

8. in section 94 are attached following paragraph 5 and 6:

"(5) the FMA submitted ESMA annually a summary of information about all violations against the provisions adopted pursuant to this federal law or on the basis of § 48 para 5 BörseG administrative measures and sanctions."

(6) the FMA has made known an administrative measure or a sanction of the public, so she taught simultaneously in the ESMA."

9 § 97 para 1 the following sentence is added:

"The Federal Ministry of finance informs the authorities ESMA, the European Commission and the other Member States, which may not accept requests for Exchange of information or cooperation pursuant to paragraph 2."

10 paragraph 97 section 4:

"(4) the FMA has justified cause to believe that companies that are not of their supervision, have infringed the provisions of Directive 2004/39/EC in the territory of another Member State or violated, so she as closely as possible to inform the competent authority of that other Member State and the ESMA. It has in turn appropriate measures to take if it has received such a notice from another competent authority, and shall inform that authority as well as the ESMA about the outcome of these measures and as far as possible on essential in the meantime occurred developments. The powers of the FMA as competent authority which has submitted the information, are not affected by this paragraph."

11. the article 97 be added following paragraph 5 to 7:

"(5) the FMA shall all general difficulties of the European Commission and ESMA, that their investment firms encounter in their branch or of the provision of investment services or investment activities in a third country.


(6) the FMA as well as in accordance with article 33 of Regulation (EU) 1095/2010 that can ESMA, cooperation agreements No. concerning the exchange of information with the competent authorities of third countries, provided that it is ensured that the information communicated at least to the extent prescribed in article 54 of Directive 2004/39/EC subject to the obligation of professional secrecy. Such exchange of information must serve the tasks of those competent authorities.

(7) the FMA and the ESMA can distant cooperation agreements on the exchange of information with authorities, bodies and natural or legal persons from third countries close, which are responsible for one or more of the following tasks: 1. supervision of credit institutions, other financial institutions, insurance companies and financial markets, 2. execution of transactions, insolvency and similar procedures at securities firms, 3. carrying out the statutory audits of accounting documents of investment firms and other financial institutions , Credit institutions and insurance companies in exercising their supervisory powers or administration of compensation systems in their missions, 4. supervision of execution and insolvency or similar proceedings in relation to investment firms points, 5. supervision of persons who carry out the statutory audits of accounting documents of insurance undertakings, credit institutions, investment firms and other financial institutions involved.

The above agreements can only be closed if it is ensured that the information communicated at least to the extent prescribed in article 54 of Directive 2004/39/EC subject to the obligation of professional secrecy. The performance of the duties of these authorities, natural or legal persons, serves such exchange of information."

12. According to article 97, the following section 97a along with heading shall be inserted:

"Cooperation and exchange of information with the ESMA

§ 97a. (1) the FMA works no. 1095/2010 for the purposes of Directive 2004/39/EC in accordance with the Regulation (EU) with the ESMA.

"(2) the FMA provides the ESMA in accordance with article 35 of Regulation (EU) No. 1095/2010 all perform their tasks under Directive 2004/39/EC required information available."

13 paragraph 98 paragraph 5:

"(5) the official secrecy, paras 2 to 4, as well as section 91 paragraph 6 does not prevent that the FMA submitted confidential information the ESMA, the European systemic risk Board, the central banks, the European system of central banks and of the European Central Bank in their capacity as monetary authorities and, where appropriate, other public authorities who are entrusted with the monitoring of the payment and settlement systems, to carry out their tasks; nor do they which preclude, that these authorities or bodies send the details of the competent authorities that require them to carry out their tasks under Directive 2004/39/EC.'

14. under article 98, the following section 98a and heading shall be inserted:

"Binding mediation

section 98a. "The FMA ESMA cases note do, where a request for 1 to an audit, a review was rejected locally or a determination in accordance with section 98 or has led to no response within a reasonable period of time or 2 to exchange of information within the meaning of article 98 has been rejected or has led to no response within a reasonable period of time."

15. in article 99, paragraph 1, final part is inserted after the phrase "competent authority" the phrase "and the ESMA".

16 paragraph 101 paragraph 2:

"(2) the FMA as competent authority of the host Member State finds that a legal entity in accordance with article 91, paragraph 1 are not observed the Austrian law or administrative provisions relating to the jurisdiction of the FMA as an authority of the host Member State Nos. 4 and 5, which has a branch in Austria, the FMA has to request the concerned entities, to establish the lawful conditions within three months. The legal entity does not fulfil the request, the FMA as competent authority of the host Member State has to take all appropriate measures to ensure that the relevant legal entity terminates the irregular situation. The FMA is the nature of such measures to inform the competent authorities of the Member State of origin, the European Commission and the ESMA. In addition, the FMA as competent authority of the host Member State can bring to the attention the matter of ESMA. The legal entity despite the measures taken by the FMA injured further Austrian legal referred to or administrative provisions, to the FMA can take appropriate measures after informing the competent authorities of the Member State of origin, to prevent further violations or to punish; If necessary, it can completely or partially prohibit the management the responsible leaders of the Branch Office of the Institute and prohibit the initiation of new transactions in Austria the legal entity. The FMA has to inform the European Commission and the ESMA from these measures immediately in knowledge. In addition the FMA as competent authority of the host Member State may bring to the attention. the matter of ESMA"

17 paragraph 101 paragraph 3:

"(3) the FMA as competent authority of the host Member State of a regulated market or an MTF clear and demonstrable grounds for believing that the relevant regulated market or the MTF concerned violates the obligations, so has him from this federal law or the BörseG as well as no. 1287/2006 adult of Regulation (EC), to share them with their findings of the competent authority of the home Member State of the regulated market or the MTF. Is the regulated market or the MTF in spite of the measures taken by the competent authority of the home Member State or because such measures prove inadequate continues in a way that clearly endangers the interests of the investors in Austria or the proper functioning of markets, the FMA as competent authority of the host Member State shall after informing the competent authority of the home Member State to take all appropriate measures , to ensure the protection of investors and the proper functioning of markets. This includes also the possibility to prohibit the regulated market or MTF, to make accessible system remote members or participants in Austria. The European Commission and the ESMA will be immediately placed in knowledge from these measures. In addition the FMA as competent authority of the host Member State may bring to the attention. the matter of ESMA"

18 § 108 paragraph 9 as amended by Federal Law Gazette I no. 72/2010 is named (9a).

19 12 the following paragraph is added to section the 108:

"(12) the table of contents in terms of §§ 97a 98a, § 69 paragraph 6 Z 1, section 91 paragraph 2 No. 3, para 5, § 92 para 12 and 13, § 94 paragraph 5 to 6, article 97, paragraph 1, 4 and 5 to 7, § 97a, § 98 para 5, § 98a, article 99, paragraph 1 and article 101, paragraph 2 and 3 in the version of Federal Law Gazette I no. 145/2011 apply by 31 December 2011."

Article 12

Amendment of the payment services act

The payment Services Act - ZaDiG, Federal Law Gazette I no. 66/2009, last amended by Federal Law Gazette I no. 107/2010, is amended as follows:

1 the following paragraph 4 is added to § the 63:

"Z 4 of this Federal Act is no. 6 of this Federal Act, §§ 40 and 41 BWG as well as Regulation (EC) 1781/2006 including those provisions related procedures and data processing systems in the sense of article 19, paragraph 3 in compliance with § 19 para 3 so (4) ABS 2 Z 4 application that on spot checks by the FMA must be made." By way of derogation from paragraph 3 and section 59 para 3 of this federal law §§ 70 in this respect are not applicable par. 1a and 1B, as well as 79 para 4 BWG."

2 the following paragraph 7 is added to in section 79:

"(7) section 63 para 4 as amended by Federal Law Gazette I no. 145/2011 effective with December 31, 2011."

Fischer

Faymann