107. Federal law amending the Stock Exchange Act, the Insurance Supervision Act, the Securities Supervision Act 2007 and the Pensionskassengesetz (Pensionskassengesetz)

The National Council has decided:

Article 1

Through this federal law,

1.		Directive 2005 /60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing (OJ L 327, 28.12.2005 No. 15) and Commission Directive 2006 /70/EC of 1 August 2006 laying down detailed rules for the application of Directive 2005 /60/EC of the European Parliament and of the Council as regards the definition of 'political' " and the establishment of the technical criteria for simplified due diligence and for exemption in cases where financial transactions are carried out only occasionally or to a very limited extent (OJ L 327, 30.4.2004, p. No. OJ L 214, 04.08.2006, p.29), and
2.		the measures necessary for the enforcement of Regulation (EC) No 1781/2006 of the European Parliament and of the Council of 15 November 2006 on the transmission of information to the payer in the event of transfers of funds (OJ L 327, 30.12.2006, p. No. OJ L 345, 08.12.2006, p. 1).

Article 2

Amendment of the Stock Exchange Act

The Stock Exchange Act 1989-BörseG, BGBl. N ° 555/1989, as last amended by the Federal Law BGBl. I No 60/2007, is hereby amended as follows:

1. In § 3 (1) Z 8 the word group shall be "a judicial preliminary investigation" through the word group "an investigative procedure" and the word group "has been initiated" through the word group "shall be conducted" replaced.

2. § 25 (5), first and second sentence are:

" For the stock exchange company, if the suspicion or the legitimate reason for the assumption that a transaction has already been carried out, an ongoing transaction or an imminent transaction of money laundering or terrorist financing is used, it shall have the authority (§ § § 3). 6 SPG) immediately and, pending the clarification of the facts, refrain from any further processing of the transaction, unless there is a risk that the delay of the transaction will result in the investigation of the facts makes it difficult or impossible. This shall also apply if the suspicion or the justified reason for the assumption is that the contractual partner is objectively involved in transactions that are the money laundering (§ 165 StGB-with the inclusion of assets which are made up of a the criminal act of the perpetrator himself) or the financing of terrorism. "

3. In § 25 (6), after the word "Money Laundering" the word group "or terrorist financing" inserted.

4. § 25 (7), first sentence reads:

" The Authority (Section 6 of the SPG) shall be authorized to order that an ongoing or impending transaction, where there is a suspicion or legitimate reason to believe that it is used for money laundering or terrorist financing, is not or provisionally postponed. "

5. In § 25, para. 7, fourth sentence, the word group shall be "The dismissal of an injunction pursuant to § 144a StPO" through the word group "a seizure in accordance with § § 109 Z 2 and 115 (1) Z 3 StPO" replaced.

6. In Section 25, Section 7, Z 2, the word group shall be: "The release of an injunction pursuant to § 144a StPO" through the word group "Seizure in accordance with § § 109 Z 2 and 115 (1) Z 3 StPO" replaced.

7. In § 25 (9) the expression "§ 84 StPO" by the expression "§ 78 StPO" replaced.

8. § 44 (2) Z 1 reads:

" 1.		if a criminal procedure has been initiated against the stock exchange office in accordance with paragraph 1, or if a criminal procedure is conducted against him as accused or accused (§ 48 para. 1 Z 1 and 2 StPO) and the nature or gravity of the allegations is appropriate for the harm the confidence of the stock exchange, or a danger to those who take advantage of the brokering activities of the stock exchange; "

Section 44 (4) reads as follows:

" (4) The Public Prosecutor's Office has informed the FMA of an investigative procedure against a stock exchange and its termination by cessation or resignation of the prosecution (§ § 194 and 208 para. 4 StPO); moreover, the court has the FMA on to communicate the termination and the outcome of the criminal proceedings. "

10. § 48h reads:

" § 48h. The main proceedings for misuse of insider information are the responsibility of the Landesgericht für Criminal Court (Landesgericht für Criminal Court) Vienna. In the case of Section 48b (1) 2., the Landesgericht (Regional Court) is responsible for the main hearing and the precipitation of the judgment as a court of the Schöffengericht. "

11. § 48i reads:

" § 48i. (1) In order to clarify the suspicion of the misuse of inside information, the Public Prosecutor's Office shall, in principle, instruct the FMA to carry out investigations within the limits of its powers pursuant to Section 48q; in this case, the FMA shall be in the service of the Criminal justice (Art. 10 (1) Z 6 B-VG).

(2) However, on the orders of the Public Prosecutor's Office, the criminal police shall intervene if this appears to be appropriate on the basis of the investigations to be carried out, in particular its nature and scope. This is the case in particular in the implementation of seizures, seizures, arrests and searches. The same shall apply if the FMA cannot intervene in time or if the facts to be resolved could also satisfy the facts of another offence punishable by a court.

(3) The FMA has to report to the Public Prosecutor's Office in Vienna in writing or by means of automated data processing, if and as soon as it becomes aware of the suspicion of misuse of inside information by a specific person. Without prejudice to the exercise of its powers in accordance with Section 48q, the Commission shall only carry out investigations in order to clarify the facts and suspicion directly when it is entrusted with the task of the prosecution by the Public Prosecutor's Office.

(4) The FMA has to report to the Public Prosecutor's Office without unnecessary delay on the progress made and the outcome of the investigations it has carried out. If the criminal police have been charged with an investigation, the FMA should be given the opportunity to participate in the investigation. However, if there is a risk of inexorable acts to be carried out in the event of delay, the FMA shall be notified without unnecessary delay of the investigation of the criminal police and shall be given the opportunity to become aware of the results of such investigations. .

(5) In addition, the provisions relating to the administrative criminal proceedings shall apply to the proceedings in respect of the acts of the FMA, provided that nothing else arises from the provisions of the StPO. "

12. § 48j is deleted.

Section 48k (1) reads as follows:

"(1) The FMA is entitled to the position of a private operator in the investigative procedure in which it was not charged with investigations, as well as in the main proceedings and in the appeal proceedings for the misuse of inside information."

14. § 48k para. 2 first sentence reads:

"In addition to the rights of the victim, the private participant and the subsidiary owner, the FMA still has the following rights:"

§ 48k para. 2 Z 3 reads:

" 3.		It is to be informed that the arrest of the accused (§ § 175 and 176 StPO), the release of the accused and the bereasement of oral proceedings in the appeal proceedings are to be communicated to her, "

16. § 48k para. 2 Z 4, the point at the end shall be replaced by a dash and the following Z 5 shall be added:

" 5.		the inspection of files (§ 68 StPO) must not be refused or restricted. "

17. In § 48k para. 3, the expression "(§ 46 para. 3 StPO)" by the expression "(Section 72 (2) and (3) of the StPO)" replaced.

18. § 48m reads:

" § 48m. If the Public Prosecutor's Office disclaims the investigation proceedings on suspicion of misuse of inside information, or if it resigns from the prosecution of such an act, it shall inform the FMA thereof (§ § 194 and 208 (4) of the StPO); in the Moreover, the Court of First Instance has to agree to the FMA on the termination of the criminal proceedings. "

19. § 48n reads:

" § 48n. The Public Prosecutor's Office or the Court of First Instance has to hear the FMA before a notice pursuant to § § 200 (4), 201 (4) or 203 (3) of the StPO. If the Public Prosecutor's Office has waives the prosecution of the misuse of inside information and the investigating procedure has ceased, the FMA is entitled to apply for the continuation of the investigation procedure pursuant to § 195 StPO. "

20. In Section 48p (1), the word group shall be "Prosecutor in place of the Public Prosecutor's Office" by the word "Subsidiary cricket" replaced.

21. § 48q (1) Z 4 reads:

" 4.		see the results of the information on the transmission of messages and the monitoring of messages (§ 134 Z 5 and 145 StPO) and to obtain copies of them (§ 140 (3) of the StPO). "

22. § 87 (4) reads:

' (4) The half-yearly report shall indicate at least important events during the first six months of the financial year and their impact on the condensed financial statements; it shall also have the essential risks and uncertainties in the remaining financial statements. six months of the financial year. In the half-yearly reports, issuers of shares shall disclose at least the following transactions as essential transactions with related companies and persons:

1.		Transactions with related companies and persons who have taken place during the first six months of the current financial year and which significantly affect the financial position or the business result of the company during this period have;
2.		all changes in the transactions with related companies and persons set out in the latest annual financial report, and the financial position or the business result of the company during the first six months of the current financial year Could have had a significant impact on the financial year.
If the issuer of shares is not obliged to draw up a consolidated financial statements, it shall at least disclose the transactions with related undertakings and persons referred to in Article 43 (1) (7) (b) of the Directive 78 /660/EEC. "

(23) The following paragraph 27 is added to § 102:

" (27) § 3, § 25 (5) to (7) and (9), § 44 (2) (1) and (4), § 48h, § 48i, § 48k, § 48m, § 48n, § 48p, § 48q and Section 87 (4), as amended by the Federal Law BGBl. I No 107/2007 will enter into force on 15 December 2007. § 48j will expire on 14 December 2007. "

Article 3

Amendment of the Insurance Supervision Act

The Insurance Supervision Act-VAG, BGBl. No 569/1978, as last amended by the Federal Law BGBl. I No 56/2007, is amended as follows:

1. § 1 para. 2, fourth sentence, reads as follows:

" This does not apply to reinsurance contracts or if the risk does not apply according to § 2 Z 2 of the Federal Act on International Insurance Contract Law for the European Economic Area, BGBl. No 89/1993, which is situated in Germany. "

(2) In § 1a (1), the reference "§ § 18a, 18b and 18c" by reference "§ § 18b and 18c" replaced and after the reference "§ 86m (2) and (3)," the reference "§ § 98a to 98h," inserted.

3. In § 2 (2) (1) (1), § 107b (1) (2) (2), § 118i (1) (5) and (131) (1) (1), the word order shall be "§ 11a" through the phrase "§ 11b" replaced.

§ 11a is given the title § 11b. In accordance with § 11, the following section 11a and title shall be inserted:

" Special provisions for institutions of insurance undertakings

§ 11a. (1) Members of the Management Board, the Board of Directors or Managing Directors may, at the earliest after the end of a period of two years after the end of their duties, take up an activity as Chairman of the Supervisory Board within the same period. company in which they were previously active in this executive function.

(2) If a member of the Management Board, the Board of Directors or a Managing Director receives a function as Chairman of the Supervisory Board against paragraph 1, he shall be deemed not to be elected Chairman.

(3) Without prejudice to other provisions of federal law, the activities of a Chairman of the Supervisory Board may only be carried out by an insurance undertaking, who shall meet the following requirements permanently:

1.		There is no reason for exclusion within the meaning of Article 13 (1) to (3), (5) and (6) of the Code in 1994 and of the assets of the Chairman of the Supervisory Board or of any other legal entity other than a natural person on whose business the Chairman of the Supervisory Board or the Chairman of the Supervisory Board shall be responsible for the The Supervisory Board shall have a decisive influence or has been granted no bankruptcy, unless the bankruptcy proceedings have concluded a compulsory equalation which has been fulfilled; this shall also apply if one of the following: Comparable facts have been achieved abroad;
2.		the Chairman of the Supervisory Board has an orderly economic situation and there are no facts from which there are doubts as to his personal reliability in the performance of the duties as Chairman of the Supervisory Board;
3.		the Chairman of the Supervisory Board is technically appropriate and has the experience required for the performance of his/her duties; professional competence shall have appropriate knowledge in the business sector for the insurance undertaking concerned; and the accounting of an insurance undertaking;
4.		The Chairman of the Supervisory Board, who is not an Austrian citizen, has no grounds for exclusion in the State of which he is a citizen, as Chairman of the Supervisory Board within the meaning of Z 1 to 3; this is due to the to confirm the home country's insurance supervisory authority; however, if such a confirmation cannot be obtained, the chairman of the supervisory board concerned shall make such a credible statement that the absence of such exclusionary grounds is to be credited to and make a statement as to whether the exclusionary grounds mentioned exist.

(4) The result of the election as Chairman of the Supervisory Board shall be brought to the attention of the FMA in writing within two weeks in the form of a certificate of the requirements referred to in paragraph 3. At the request of the FMA, the Court of Justice of the Court of First Instance appointed to exercise jurisdiction in commercial matters shall revoke the election of the Chairman of the Supervisory Board in the proceedings in addition to disputes if the latter meets the requirements referred to in paragraph 3 above is not fulfilled. The application shall be submitted within four weeks of the date of transmission of the result of the election. The function of the Chairman of the Supervisory Board shall be based on the final decision of the Court of First Instance. If a Chairman of the Supervisory Board is a member of the Management Board, the Board of Directors or the Managing Director of an insurance undertaking based in a Member State, the FMA may be subject to the fulfilment of the conditions laid down in paragraph 3 (1) (1). to 4, unless otherwise known to the contrary.

(5) (1) to (4) shall apply only to insurance undertakings whose calculated premiums exceed, at the date of the election, 500 million euros for the entire business operated under the concession. "

5. The following sentences are added to Article 17b (2):

" It has, for the first time, also the chairman of the supervisory board or the supervisory organ of the supervisory board, which is otherwise responsible under the law or the statute, on the examination areas and the main audit findings on the basis of the examinations carried out. to report to the insurance undertaking and to the Audit Committee. In the next meeting of the Board of Supervisors, the Chairman of the Board of Supervisors shall report to the Supervisory Board on the examination areas and the main findings of the audit. "

6. In Section 17c (1b), after the word order "having its registered office in a Contracting State" the phrase "and of reinsurance undertakings which have a domestic concession," inserted.

7. In § 18, para. 4, the word in the first sentence shall be: "Insured" by the word "policyholders" replaced.

§ 18a shall be deleted.

9. In Article 22 (3), the following sentence is added:

"With the agreement of the Federal Minister of Finance, the FMA has to fix the amount of the fee by Regulation and, in this connection, may, where necessary, also provide for further details on the payment of the fee and the reimbursement of the fee."

10. In § 24a para. 1, the word in the first sentence shall be: "Insured" by the word "Policyholder" replaced.

11. In § 73f (5), in the first sentence after the word order "amount quoted" the phrase "and in Article 41 (1) of Directive 2005 /68/EC for the amount referred to in Article 40 (2) of that Directive" inserted.

12. In § 82 (6) the reference "and 18a" by reference "and 98a to 98h" replaced.

(13) In § 82b, the following paragraph 4 is added:

" (4) In insurance undertakings of any legal form, the calculated premiums of which exceed EUR 750 million for the whole of the business operating under the concession or which have issued transferable securities to trading on a regulated market pursuant to Article 1 (2) of the Austrian Stock Exchange Act (BörseG) is authorised by the Supervisory Board or the supervisory body of the insurance undertaking which is otherwise competent pursuant to the law or the articles of association of the insurance undertaking, an examination committee consisting of at least three members of the supervisory body. A person must be a member of a person who has special knowledge and practical experience in the operation and accounting of an insurance undertaking and in reporting in an appropriate manner to the insurance undertaking concerned. Wise (financial expert). Chairman of the Audit Committee or financial expert shall not be the person who has been a member of the Management Board, the Board of Directors, Executive Director, Chief Executive Officer, or statutory auditor of the Company for the last three years or who has been a member of the Board of Directors. Confirmation note has been made. The tasks of the Audit Committee include:

1.		the monitoring of financial reporting;
2.		the monitoring of the effectiveness of the internal control system;
3.		the monitoring of the final audit and the consolidated financial statements;
4.		the audit and monitoring of the auditor's independence, in particular with regard to the additional services provided to the audited entity;
5.		the examination and preparation of the conclusion of the annual accounts, the proposal for the distribution of profits, the management report and, where appropriate, the corporate governance report, and the refund of the report on the results of the audit to the Supervisory body;
6.		where appropriate, the audit of the consolidated financial statements and management report and the refund of the report on the results of the audit to the parent undertaking ' s supervisory body;
7.		the preparation of the proposal of the Board of Supervisors for the selection of the auditor. "

14. In accordance with § 98, the following main piece shall be inserted:

" Eighth Main Piece

PREVENTION OF MONEY LAUNDERING AND TERRORIST FINANCING

Scope and definitions

§ 98a. (1) The provisions of this item shall apply to insurance undertakings in the context of the life insurance business.

(2) The following definitions shall apply for the purposes of this main item:

1.			Politically exposed persons: are those natural persons who exercise important public offices or who have exercised up to a year ago and whose immediate family members or persons known to them are known to be closely related;
a)			"Important public offices" are the following functions:
aa)				Heads of State, Heads of Government, Ministers, Deputy Ministers and State Secretaries;
bb)				Members of Parliament;
cc)				members of the highest courts, constitutional courts or other high-ranking institutions of the judiciary, whose decisions, except in exceptional circumstances, cannot be brought to justice;
dd)				members of the courts or the executive board of central banks;
ee)				Ambassadors, business leaders or high-ranking officers of the armed forces;
ff)				Members of the administrative, managerial or supervisory bodies of public undertakings.
			Sublit. aa to ee are also valid for positions at Community level and for positions in international organisations.
b)			The following shall be considered as "immediate family members":
aa)				Spouse;
bb)				the partner equal to the spouse in accordance with national law;
cc)				the children and their spouses or partners who, under national law, are the same as the spouse;
dd)				the parents.
c)			The following persons shall be deemed to be "persons known to be close to persons":
aa)				any natural person who is known to be the joint economic owner of legal entities, such as foundations, or trusts, or another close business, with a holder of an important public office; Close relationship with the holder of an important public office;
bb)				any natural person who is the sole economic owner of legal entities, such as foundations, or trusts, which are known to have been actually built for the benefit of the holder of an important public office.
2.		Business relationship: is a business relationship between the insurance company and the customer or the customer by concluding an insurance contract, taking over an insurance contract or ceasing a claim an insurance contract.
3.		economic owner: are the natural persons, in whose property or under their control the customer is ultimately standing. The term of the beneficial owner shall include in particular:
a)			for companies:
aa)				the natural persons, in the ownership or under the control of which a legal entity has a direct or indirect holding or control of a sufficient share of the shares or voting rights of that legal entity, including the Holdings in the form of bearer shares, which are not a company listed on a regulated market and which are subject to the disclosure requirements of Community law or to equivalent international standards; a share of 25% plus one share shall be considered sufficient to ensure that this criterion is met;
bb)				the natural persons exercising control over the management of a legal entity in another way;
b)			for legal entities, such as foundations, and trusts who manage or distribute funds:
aa)				provided that the future beneficiaries have already been determined, those natural persons who are the beneficiaries of 25% or more of the benefits of a trusts or a legal entity;
bb)				provided that the individuals who are beneficiaries of the trusts or legal entities have not yet been determined, the group of persons in whose interest the trust or legal entity has been or has been established, mainly;
cc)				the natural persons exercising control over 25% or more of the assets of a trusts or a legal entity.
4.		Customer: are the policyholder and the beneficiary from the insurance contract. The beneficiary shall be considered to be the person who receives the claims arising from an insurance contract.

Duty of care to combat money laundering and terrorist financing

§ 98b. (1) Insurance undertakings shall identify and verify the identity of a customer:

1.		before establishing a business relationship;
2.		before carrying out any transactions not falling within the framework of a business relationship, the amount of which shall be at least EUR 15 000 or euro equivalent, irrespective of whether the transaction is carried out in a single operation or in a single transaction; , if the amount is not known before the commencement of the transaction, the identity shall be established as soon as the amount is known and it is established that the amount of the transaction is not known. is at least EUR 15 000 or Euro equivalent;
3.		if there is a suspicion or legitimate reason to believe that the customer is a terrorist organisation (§ 278b of the Criminal Code, BGBl. No 60/1974 [StGB]), or that the customer is objectively involved in transactions involving money laundering (§ 165 StGB-with the inclusion of assets which stem from a criminal act of the perpetrator himself) or the terrorist financing (Section 278d of the StGB);
4.		In case of doubt, the authenticity or the appropriateness of previously obtained customer identification data.
The identity of a customer shall be determined by the personal presentation of his or her official photo ID. Documents issued by a national authority shall be deemed to have been issued by a public authority and shall be accompanied by an unexchangeable recognisable head image of the person concerned and the name, date of birth and signature. of the person and of the issuing authority. In the case of foreign travel documents, the full date of birth shall not be included in the travel document if this is in accordance with the law of the issuing State. In the case of legal persons and natural persons who are not self-authorised, the identity of the natural person responsible for representation shall be identified by presenting their official identity card and the power of representation shall be determined on the basis of appropriate Certificates must be verified. The identification of the identity of the legal person shall be determined on the basis of certificates which have been passed on to the legal person and which are available in accordance with the legal standard customary at the registered office of the legal persons. Only in the cases according to § § 98c and 98e may be deviated from the above provisions. Individual criteria may be omitted from the criteria of the official photograph, if other criteria of equal value are introduced on the basis of technical progress, such as biometric data, in accordance with the criteria laid down in the following criteria: its legitimacy is at least equivalent to its legitimacy. However, the criterion of the exhibition by a state authority must always be given.

(2) The insurance undertaking shall inform the person who wishes to establish a business relationship with the insurance undertaking to indicate whether he or she acts as a trustee, which shall comply with the invitation. If he is aware that he wishes to act as a trustee, he must also prove to the insurance company the identity of the trustee. The identity of the trustee shall be determined in accordance with paragraph 1, exclusively in the case of the physical presence of the trustee. An identification of the trustee by third parties is also excluded. Proof of the identity of the trustee has to be provided by natural persons by presenting the original or a copy of the official photo ID (paragraph 1). 1) of the trustee shall be effected in the case of legal persons by means of convicted documents in accordance with paragraph 1. The trustee shall also make a written statement to the insurance undertaking that he or she has personally or by a reliable guarantee convinced of the identity of the trustee. Reliable persons in this sense are courts and other state authorities, notaries, lawyers and third parties within the meaning of § 98e.

(3) Insurance undertakings shall also:

1.		to request the customer to disclose the identity of the client's beneficial owner and to comply with that request, and to take risk-based and appropriate measures to verify its identity; , so that they are persuaded to know who the beneficial owner is; in the case of legal entities or trusts, this includes risk-based and appropriate measures to ensure the ownership and control structure of the to understand customers,
2.		take risk-based and proportionate measures in order to obtain information on the purpose and nature of the business relationship sought;
3.		Take risk-based and proportionate measures to carry out a continuous monitoring of the business relationship, including a review of the transactions carried out in the course of the business relationship, to ensure that: to ensure that they are consistent with the knowledge of the insurance undertaking on the customer, its business activities and its risk profile, including where necessary the origin of the money or financial resources, and to ensure that the relevant Always update documents, data, or information.

(4) Insurance undertakings shall have their business on the basis of appropriate criteria (in particular products, customers, complexity of transactions, customers ' business, geography) of a risk analysis concerning their risk, for the purposes of money laundering and terrorist financing to be misused. Insurance undertakings must be able to demonstrate to the FMA that the extent of the measures taken as a result of the analysis should be considered appropriate in view of the risks of money laundering and the financing of terrorism.

(5) By way of derogation from paragraph 1 (1) (1), insurance undertakings may also verify the identity of the beneficiary under the insurance contract only before disbursing, or if the beneficiary is entitled to take advantage of his rights under the insurance contract.

(6) In the event that the insurance undertakings are not in a position to comply with paragraphs 1 to 3 for the purpose of identifying and obtaining the other necessary information about the business relationship, they shall not be allowed to have a business relationship A statement about the client to the authority (§ 6 of the Security Policy Act, BGBl. No 566/1991 [SPG]) pursuant to Section 98f (1).

(7) Insurance undertakings shall have due diligence obligations in accordance with this main item for the purpose of determining and verifying the identity of the customer, not only to all new customers but also to the existing clientele at the appropriate time. risk-based basis.

(8) Insurance undertakings shall:

1.		to ensure that, in its branches and subsidiaries in third countries, measures are applied which are at least equivalent to those laid down in this Federal Law relating to the duty of care to customers and to the storage of the records are fixed;
2.		inform the FMA if the application of the measures under Z 1 is not permitted under the legislation of the third country in question and also to take other measures to take account of the risk of money laundering or terrorist financing; to be effective.
The FMA shall inform the competent authorities of the other Contracting States and the European Commission of cases in which the application of the measures required by Z 1 is not permitted under the legislation of a third country, and a solution could be sought within the framework of a coordinated approach.

(9) In the context of non-cooperating states, Section 78 (9) of the Banking Act, BGBl. No 532/1993 (BWG).

Simplified due diligence obligations

§ 98c. (1) The insurance undertakings shall be exempt from the obligations laid down in Article 98b (1), (1), (2) and (4), (2) and (3) in the following cases, subject to an assessment as a low risk of money laundering and terrorist financing in accordance with paragraph 2:

1.		When it comes to the customer
a)			an insurance undertaking, in so far as it is subject to the provisions of this Headpiece, a credit institution pursuant to Article 1 (1) of the BWG or a credit and financial institution in accordance with Article 3 of Directive 2005 /60/EC (OJ L 327, 22.12.2005, p. No. OJ L 309, 25 November 2005, p. 15),
b)			an insurance undertaking, credit institution or other financial institution established in a third country, within the meaning of Article 3 of Directive 2005 /60/EC, which is subject there to equivalent obligations, as provided for in Directive 2005 /60/EC, and is subject to supervision in respect of their compliance;
c)			a publicly listed company whose securities are admitted to trading on a regulated market in one or more Contracting States, or a listed company from a third country which, in accordance with one of the Regulation empowerment pursuant to Section 85 (10) of the Austrian Stock Exchange Act (BörseG) is subject to disclosure requirements which comply with or are comparable to European Community law.
d)			a national authority, or
e)			an authority or public body,
aa)				if the latter has been entrusted with public tasks on the basis of the Treaty on European Union, the Treaties establishing the European Communities or the secondary legislation of the European Communities,
bb)				whose identity shall be publicly verifiable and transparent and shall be established without any doubt,
cc)				whose activities and accounting practices are transparent and
dd)				if they are accountable either to an institution of the European Communities or to the authorities of a Contracting State, or if there are other control and counter-control mechanisms to verify their activity,
		.
2.		In relation to customers with regard to the following insurance contracts and related transactions:
a)			life insurance contracts if the amount of the premiums to be paid during the year does not exceed EUR 1 000 or if, in the case of payment of a one-off premium, the premium is not more than EUR 2 500;
b)			Pension insurance contracts, provided that they do not contain a repurchase clause or can be used as collateral for a loan.

(2) The insurance undertakings shall have to assess whether the insurance undertakings referred to in paragraph 1 (1) (1) (1). c to e mentioned customers and with those in paragraph 1 Z 2 lit. b) a low risk of money laundering or terrorist financing is associated with these products. In this context, particular attention shall be paid to the activities of these customers and to the nature of the products and transactions in which the use may be made more likely to be used for the purposes of money laundering or terrorist financing. shall be devoted. If the information available to insurance undertakings indicates that the risk of money laundering or terrorist financing may not be low, the exemptions provided for in this paragraph shall not apply: ,

(3) Insurance undertakings shall have sufficient information to be kept in order to demonstrate that the conditions for the application of the simplified due diligence procedures are available.

(4) The Federal Government, in agreement with the Main Committee of the National Council, has decreed by Regulation that the exemptions under paragraph 1 are no longer applicable if the European Commission takes a decision pursuant to Article 40 (4) of the Directive 2005 /60/EC

(5) The FMA shall inform the competent authorities in the other Contracting States and the European Commission of cases in which they consider that a third country fulfils the conditions set out in paragraph 1.

Increased due diligence obligations

§ 98d. (1) In cases where their nature is at an increased risk of money laundering or terrorist financing, insurance undertakings shall have a risk-based basis in addition to the obligations of § 98b (1) to (3) and (7) further to apply appropriate due diligence obligations. In any case, you also have:

1.		in cases where the customer or the natural person responsible for him within the meaning of section 98b (1) is not physically present for the purpose of establishing the identity and, therefore, the personal presentation of an official photo-ID is not possible is to take specific and appropriate measures to compensate for the increased risk; they have, except on suspicion or on a legitimate basis, the assumption in accordance with Section 98b (1) (3), since in these cases, in any case, the business contact has to ensure that at least:
		either
a)			the customer's legal declaration either by means of a qualified electronic signature in accordance with § 2 Z 3a Signature Act, BGBl. I No 190/1999 (SigG); or, if this is not the case, that the legal declaration of the insurance undertaking is made in writing, with registered mail delivery, to the customer address which is the domible or registered office of the insurance undertaking. of the customer,
b)			you name, date of birth and address of the customer, in the case of legal persons the company and the registered office are known; in the case of legal persons, the seat must at the same time be the registered office of the central administration, which means the customer a written declaration , In addition, a copy of the official photograph of the customer or his legal representative or, in the case of legal persons, of the representative body must be available to the insurance undertaking prior to the reasons for the business relationship, provided that: the legal transaction is not completed electronically by means of a qualified electronic signature; and
c)			if the registered office or place of residence is outside the EEA, a written confirmation of a credit institution pursuant to § 98e (1) Z 3, with which the customer has a permanent business connection, is available, that the customer within the meaning of § 98b (1), (2), (3) Z 1 or 2 or Art. 8 (1) (lit). a to C of Directive 2005 /60/EC and that the permanent business relationship is maintained. Where the affirmative credit institution has its registered office in a third country, that third country must make the requirements of Articles 16 to 18 of that Directive equivalent to those of equivalent requirements. In place of identification and confirmation by a credit institution, identification and written confirmation by the Austrian representative authority in the third country concerned or of a recognised certification body shall also be permitted.
		or
d)			the first payment is processed in the course of the business relationship through an account opened on behalf of the customer at a credit institution pursuant to § 98e (1) (3) and (2); however, in any case, they must be given the name, date of birth and address of the account. of the customer, in the case of legal persons, the company and the registered office are known and copies of the documents of the customer are available to them, on the basis of which the information of the customer or its representative natural person can be credibly understood. In place of these copies, it is sufficient if a written confirmation from the credit institution is available on which the first payment is to be made, that the customer is in the sense of § 98b (1), (2), (3) (3) (1) or (2) or (2). Art. 8 (1) (lit). a to C of Directive 2005 /60/EC.
		Z 1 shall not apply in respect of the insurance contracts referred to in § 98c (1) (2) and related transactions, subject to an assessment as a low risk of money laundering and terrorist financing.
2.		in the case of transactions or business relations with politically exposed persons of other States Parties or third countries
a)			to have adequate, risk-based procedures to determine whether or not the customer is a politically exposed person;
b)			obtain the approval of the management level before taking up business relations with those customers;
c)			to take appropriate measures to determine the origin of the assets and the origin of the funds used in the framework of the business relationship or the transaction, and
d)			to subject the business relationship to increased continuous monitoring.

(2) The insurance undertakings shall be particularly careful to examine any justification of a business relationship and any transaction, provided that it considers it particularly likely that the business relationship or transaction with money laundering (§ 165 StGB-including assets which stem from a criminal act of the perpetrator himself) or terrorist financing (§ 278d of the StGB), and if necessary take action to take advantage of for the purposes of money laundering or terrorist financing prevention.

Execution by third parties

§ 98e. (1) The insurance undertakings shall have recourse to third parties in order to fulfil the obligations laid down in § 98b (1), (2) and (3) (1) and (2) However, the final responsibility for the performance of these duties shall remain with the insurance undertakings which have recourse to third parties. For the purposes of this paragraph, third parties shall apply:

1.		Insurance undertakings, in so far as they are subject to the provisions of this Headpiece, insurance undertakings according to Art. 3 Z 2 lit. (b) Directive 2005 /60/EC;
2.		Insurance intermediaries pursuant to § 365m (3) Z 4 GewO 1994, insurance intermediaries in accordance with Art. 3 Z 2 lit. e Directive 2005 /60/EEC;
3.		Credit institutions pursuant to Article 1 (1) of the BWG, credit institutions and financial institutions pursuant to Art. 3 (1) and (2) (a), (c), (d) and (f) of Directive 2005 /60/EC, provided that they are not exclusively authorized to carry out the exchange business (§ 1 1 (22) of the BWG) or of the financial transfer business (Article 1 (1) (c) 23 of the BWG);
4.		which is referred to in Article 2 (1) Z 3 lit. (a) and (b) of Directive 2005 /60/EC, with its registered office in the country or the EEA.

(2) Legal or natural persons established in a third country which are equivalent to those referred to in paragraph 1 shall be deemed to be third parties within the meaning of paragraph 1 on condition that they:

1.		are subject to a legally recognised compulsory registration with regard to their profession, and
2.		to apply due diligence obligations to customers and obligations for the retention of documents which are or are in accordance with this main piece or in Directive 2005 /60/EC, and a plan of supervision in accordance with Chapter V, Section 2 of this Regulation as regards compliance with the requirements of this Directive, or are established in a third country which prescribble requirements equivalent to those laid down in this Directive.
The FMA shall inform the competent authorities of the other Contracting States and the European Commission of cases in which they consider that a third country fulfils the conditions set out above.

(3) If the European Commission makes a decision pursuant to Article 40 (4) of Directive 2005 /60/EC, the Federal Government, in agreement with the Main Committee of the National Council, shall prohibit the insurance undertaking from being fulfilled by means of a regulation. the obligations under § 98b (1), (2) and (3) (1) and (2) (2) and (2) shall be made available to third

(4) The insurance undertakings shall have the effect of causing the third parties to comply with the obligations laid down in Article 98b (1), (2) and (3) (2) and (2) and (2) respectively. referred to in Article 8 (1) (1). a to c of Directive 2005 /60/EC shall immediately make the necessary information available. In addition, insurance undertakings shall have the effect of causing the relevant copies of the data relating to the identification and verification of the identity of the customer and other relevant documents relating to the identity of the customer or of the customer. economic owners from the third party shall be forwarded to them without delay upon their request.

(5) This paragraph does not apply to "outsourcing" or representation relationships in which on the basis of a contract the "outsourcing" service provider or representative as part of the to fulfill the obligations according to § 98b (1), (2) and (3) Z 1 and 2 is to be regarded as an insurance undertaking.

Reporting requirements

§ 98f. (1) The suspicion or the justified reason for the acceptance shall be:

1.		that the intended justification of a business relationship or an existing business relationship of the money laundering (§ 165 StGB-with the inclusion of assets that stem from a criminal act of the perpetrator itself) serves,
2.		that an existing transaction or an imminent transaction of money laundering (§ 165 StGB-with the inclusion of assets stemming from a criminal act of the perpetrator itself) is used,
3.		that the policyholder has acted contrary to the obligation to disclose fiduciary relationships in accordance with Section 98b (2), or
4.		that the customer belongs to a terrorist organisation in accordance with § 278b of the StGB (German Civil Code) or that the justification of a business relationship or the transaction of terrorist financing pursuant to Section 278d of the StGB is used,
the insurance undertaking shall immediately inform the Authority (Section 6 of the SPG) of the fact that, until such time as the facts have been clarified, the Authority shall refrain from the statement of reasons for the business relationship and shall not carry out any transaction unless: there is a risk that this will make it difficult or impossible to identify the facts. In doing so, insurance undertakings must pay particular attention to any activity, the nature of which, in their view, is particularly close to the fact that it could be linked to money laundering or terrorist financing. In particular, complex or uncommon contract designs as well as transactions that do not have an obvious economic or recognizable legal purpose, fall below that. Records shall be drawn up in a suitable manner. The insurance companies are entitled to require the authority (§ 6 SPG) to decide whether there are concerns about the immediate settlement of a transaction; expresses the authority (§ 6 SPG) until the end of the following In the event of a bank working day, the transaction may be unsettled immediately.

(2) Insurance undertakings shall, on request, give the Authority (§ 6 SPG) any information which it appears necessary to prevent or pursue money laundering or the financing of terrorism.

(3) The authority (§ 6 SPG) is authorized to order that an ongoing or impending transaction, where the suspicion or the legitimate reason exists, is to assume that it is the money laundering (§ 165 StGB-with the inclusion of Assets that stem from a criminal act of the perpetrator himself) or the financing of terrorism (§ 278d of the German Criminal Code) serves, is not or is provisionally deferred. The authority (Section 6 of the SPG) has to notify the customer and the public prosecutor's office of the order without any unnecessary delay. The customer's understanding has to contain the indication that he or any other person concerned is entitled to lodge a complaint for violation of his/her rights to the independent administrative senate; in this case, it also has to do with those in § 67c of the General Administrative Procedure Act 1991, BGBl. No 51/1991 (AVG) should be mentioned in the case of such complaints.

(4) The authority (§ 6 of the SPG) has to lift the order pursuant to paragraph 3 as soon as the conditions for the release have been cancelled or the prosecution declares that the conditions for a seizure pursuant to § § 109 Z 2 and 115 (1) (1) Z 3 of the Criminal Procedure Code 1975, BGBl. No 631/1975 (StPO). The order shall, moreover, be repeal;

1.		if six months have elapsed since their date of release; or
2.		as soon as the court has passed a final decision on a request for seizure pursuant to Sections 109 Z 2 and 115 (1) Z 3 of the StPO.

(5) The insurance undertakings shall keep secret all transactions which serve the purpose of the performance of the provisions of paragraphs 1 to 3 to customers and third parties. However, once an order has been issued in accordance with paragraph 3, they are authorized to refer the customer to the authority (§ 6 SPG); with the consent of the authority (§ 6 SPG), they are also authorized to inform the customer themselves of the arrangement. The prohibition referred to in this paragraph

1.		does not refer to the transfer of information to the FMA, the Oesterreichische Nationalbank or to the transfer of information for the purposes of law enforcement,
2.		shall not preclude the transfer of information between subsidiaries of the same group within the meaning of Article 2 (2) (12) of Directive 2002/87/EC from States Parties or from third countries, provided that such equivalent obligations, as in the case of the Directive 2005 /60/EC, and are subject to supervision in respect of their compliance and
3.		in cases relating to the same customer and the same transaction in which two or more insurance undertakings are involved in accordance with Article 98e (1) Z 1 or credit institutions in accordance with Article 98e (1) Z 3, an information transfer between: , provided that they are situated in a Contracting State or in a third country in which the requirements equivalent to Directive 2005 /60/EC apply, and provided that they originate in the same category of profession and are equivalent to those of the same occupational category. Obligations with regard to professional secrecy and the protection of personal data shall apply. The information exchanged may be used exclusively for the purposes of preventing money laundering and terrorist financing.
The FMA shall inform the competent authorities of the other Contracting States and the European Commission of cases in which they consider that a third country fulfils the conditions laid down in the Z 2 or 3. If the European Commission makes a decision pursuant to Article 40 (4) of Directive 2005 /60/EC, the Federal Government, in agreement with the Main Committee of the National Council, has issued an information transfer between To prohibit insurance undertakings and persons from the third country concerned.

(6) In the exercise of the insurance supervision, the FMA gives itself the suspicion that a business relationship or a transaction of money laundering or terrorist financing is used, it shall immediately inform the Authority (Section 6 of the SPG) in the knowledge .

(7) In the event of any other invalidity, data determined by the Authority (§ 6 SPG) pursuant to para. 1, 2 or 6 may be used solely for financial mismanagement, with the exception of those within the competence of the accused person, to the detriment of the accused person or the incider of the party. Courts shall not be used for any financial operation, smuggling or evasion of entry or exit charges. If the authority (§ 6 SPG) merely suspects a criminal offence pursuant to the first sentence, it shall have the notification in accordance with § 78 StPO or § 81 of the German Finance Law, Federal Law Gazette (BGBl). No 129/1958 (FinStrG).

(8) Damage claims may be subject to the circumstance that an insurance undertaking or an employee in a negligent lack of knowledge that the suspicion of money laundering or terrorist financing or the suspicion of an infringement in the The meaning of Section 98b (2) was incorrect, a transaction was delayed or not carried out, and not collected.

Storage of records and statistical data

§ 98g. Insurance undertakings shall have the following documents and information with a view to their use in investigative proceedings concerning possible money laundering or terrorist financing or with a view to carrying out such investigations. To store analyses by the authority (§ 6 SPG) or the FMA:

1.		documents serving an identification in accordance with section 98b (1) to (3) and (7), as well as supporting documents and records of the insurance contract up to at least five years after the end of the insurance contract;
2.		all transactions and records up to at least five years after they have been carried out.

Internal procedures and training

§ 98h. (1) Insurance undertakings shall:

1.		appropriate and appropriate strategies and procedures for due diligence in relation to customers, suspigons, record keeping, internal control, risk assessment, risk management, ensuring the to establish compliance with the relevant rules and communication in order to prevent and prevent business relations and transactions related to money laundering or terrorist financing;
2.		to communicate the relevant strategies and procedures to its branches and subsidiaries in third countries;
3.		, by appropriate measures, the staff involved in the establishment of business relations and the settlement of transactions, with the provisions designed to prevent or combat money laundering or terrorist financing, be familiar. Such measures shall include, inter alia, the participation of the competent staff in special training programmes to enable them to learn, possibly with money laundering or terrorist financing, contracts or contracts relating to the financing of terrorism; to recognise transactions and to behave properly in such cases;
4.		To establish systems enabling them to provide full and rapid information on requests from the Authority (Article 6 of the SPG) or the FMA, which appear necessary to prevent or prosecuse money laundering or terrorist financing , whether they have a business relationship with certain natural or legal persons or have maintained a business relationship during the last five years, as well as the nature of that business relationship;
5.		allow the FMA to check at any time the effectiveness of its systems to combat money laundering or terrorist financing;
6.		provide, within their company, a special representative to ensure compliance with § § 98a to 98h in the fight against money laundering and terrorist financing.

(2) The Authority (Article 6 of the SPG) shall have access to up-to-date information on the methods of money laundering and terrorist financing and on indications of suspicious business relations and of the methods of laundering and financing of the money laundering by the Authority (Article 6 of the SPG); Allow transactions to be detected. It also ensures timely feedback on the effectiveness of suspicions in the case of money laundering or terrorist financing and the actions taken to this extent, insofar as this is practicable. "

15. Before § 99, the description of the classification shall be "Eighth Main Piece" by the description of the outline "Ninth Main Piece" replaced.

16. Before § 107b, the description of the outline "Ninth Main Piece" by the description of the outline "Tenth Main Piece" replaced.

17. In Section 107b (1), the following Z 2d is inserted after Z 2c:

" 2d.		the written indication of the result of the election as Chairman of the Supervisory Board pursuant to Section 11a (4) of the Supervisory Board shall be left; "

18. In § 108a para. 1 Z 2, the reference "§ 18a" by reference "§ § 98a to 98h" replaced.

19. Before § 115, the description of the classification shall be "Tenth Main Piece" by the description of the outline "Eleventh Main Piece" replaced.

20. Before § 119, the description of the classification shall be "Eleventh Main Piece" by the description of the outline "Twelfth Main Piece" replaced.

21. In § 119i, the following paragraphs 19 and 20 are added:

" (19) § 1 para. 2, § 17c para. 1b in the version of the Federal Law BGBl. I No 107/2007 will enter into force on 10 December 2007.

(20) § 1a (1), § 2 (2) Z 1, § 11a, § 17b (2), § 18 (4), § 22 (3), § 24a (1), § 73f (5), § 82 (6), § 82b (4), § § 98a to 98h together with transcripts, § 107b (1) Z 2 and 2d, § 108a (1) Z 2, § 118i para. 1 Z 5, § 131 Z 1, 4 and 4a, Appendix D Section B) Z 4 lit. d and the outline designations before § § 99, 107b, 115, and 119 in the version of the Federal Law BGBl. I No 107/2007 shall enter into force 1. Jänner 2008 in force. At the same time, Section 18a is repeal. Section 11a (3) in the version of the Federal Law BGBl. I No 107/2007 is on the Chairperson of the Supervisory Board, which is at the time of the entry into force of the Federal Law BGBl. I No 107/2007 have already been ordered until the end of their term of operation, but not until 31 December 2010 at the end of the period. "

22. In § 131 Z 1 the reference "§ 18a (10) in the cohesiveness with Section 41 (7) of the BWG," and it becomes after the reference "§ § 87 to 96," the reference "Section 98f (8)," inserted.

23. § 131 Z 4 reads:

" 4.		as regards § 98f (1) to (3) and (7) last sentence of the Federal Minister for Home Affairs; "

24. According to § 131 Z 4 the following Z 4a is inserted:

" 4a. as regards Section 98h (1) and (2) of the Federal Minister of Finance, in agreement with the Federal Minister for the Interior; "

25. In Annex D, Section B) Z 4 lit. d eliminates the word sequence "minus the reinsurance commissions and profit shares from reinsurance contributions" .

Article 4

Amendment of the Securities and Markets Act 2007

The Securities and Markets Act 2007-WAG 2007, BGBl. I No 60/2007, is hereby amended as follows:

1. In § 6, § 12 (4), § 91 (1) Z 5 and Z 6, § 95 (8) (1) and (95) (9) (2) (2), after the expression: "40" the expression ", 40a, 40b, 40d" inserted.

2. § 60 para. 2 reads:

" (2) For the purposes of this paragraph and section 61, the legal entities referred to in § 58 (2) (1) to (4) shall be eligible counterparties. Die in § 58 sec. 2 Z 1 lit. i have a net turnover of at least 40 million euro. Where a legal personality is subject to legal orders from different Member States, the classification of that legal personality shall be determined in accordance with the legislation of that Member State in which that legal personality has its seat. "

3. § 73 (1) reads:

" (1) Investment firms shall draw up their annual accounts in accordance with the structure of Annex 2 to Section 43 of the BWG in such a timely manner that the period laid down in paragraph 2 may be complied with; sections 43, 45 to 59a, 64 and 65 (1) and (2) of the BWG shall apply. The provisions of § 275 UGB on the auditor's liability shall apply. "

(3a) Section 75 (2) second sentence reads as follows:

"The compensation facility shall be operated in the form of a trusteeship liability company as a legal person."

3b. The following paragraph 6 is added to § 76:

" (6) The compensation institution shall be responsible for the payment of the contribution referred to in paragraph 3 and the compensation payments on the basis of a trustee. For this purpose, it has a list of all the investor requirements (paragraph 1). 4) and the contributions to be made (par. 3). Contributions pursuant to paragraph 3 and claims pursuant to paragraph 4 are to be shown on the balance sheet and the compensation facility has no provisions in accordance with Section 198 (8) of the UGB. A list of trustees shall be drawn up as an annex to the annual accounts. "

3c. In § 77 (1) (1) (1), after the word "annual accounts" the word group "together with the Annex referred to in Article 76 (6)" inserted.

4. § 91 (3) Z 6 reads:

" 6.		apply to the competent public prosecutor's office that they apply to the court with a request for seizure in accordance with § § 109 Z 2 and 115 (1) (1) Z 3 of the Criminal Procedure 1975-StPO, BGBl. No. 631/1975. '

(5) In Article 91 (3) (11) and (7), the expression shall be "§ 84 StPO" by the expression "§ 78 StPO" replaced.

5a. The following Z 9 is added to § 103:

" 9.		(on § 76 (6))
		Section 76 (6) is to be applied for the first time at the balance sheet date from 31 December 2007. A compensation institution which has entered into the balance sheet in the preceding financial statements of investor claims, the provisions or contributions receivted therefor in accordance with section 76 (3) and (4), has the following balance sheet items in the following To dissolve the annual financial statements in a non-effective way and to show them as a trusteeship in the appendix in accordance with § 76 (6). "

6. § 108 receives the sales designation "(1)" and the following paragraph 2 is added:

" (2) § 6, § 12 para. 4, § 60 para. 2, § 73 (1), § 91 (1) Z 5 and 6, § 91 (3) Z 6 and 11, § 91 (7), § 95 (8) Z 1 and § 95 (9) Z 2 in the version of the Federal Law BGBl. I No 107/2007 will enter into force on 15 December 2007. '

Article 5

Amendment of the Pensionskassengesetz

The Pensionskassengesetz, BGBl. No. 281/1990, as last amended by the Federal Law BGBl. I n ° 141/2006, is amended as follows:

(1) In § 20, paragraphs 3a and 3b are given the names "(3c)" and "(3d)" ; in accordance with paragraph 3, the following paragraphs 3a and 3b are inserted:

" (3a) Unless otherwise provided by law, the gender factor may only lead to different contributions or benefits for women and men if the sex is a determining factor in a risk assessment that is based on relevant and accurate actuarial and statistical data. The risk assessment, as well as the actuarial and statistical data collected, shall be indicated in the business plan. The pension fund has to update this risk assessment on a regular basis.

(3b) The pension fund shall publish the actuarial and statistical data from which different contributions or benefits are derived for women and men, and any updating of that data. If this is data which has already been published by other bodies, it is sufficient to provide an indication of this publication. If the data are provided on the Internet, any person is to be provided with a legible reproduction without technical aids. "

(2) The following paragraph 29 is added to § 51:

" (29) § 20 para. 3a to 3d in the version of the Federal Law BGBl. I No 107/2007 shall enter into force 1. Jänner 2008 in force. "

Fischer

Molterer