Austria: Financial Sector Assessment Program Update Technical Note: Factual Update and Analysis of the IOSCO Objectives and Principles of Securities Regulation

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 206

Publication date: July 2008

ISBN: 9781451802450

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , Investments and Securities-General , Public Finance , ISCR , CR , FMA staff , management company , client relationship , investor protection remit permit , market monitoring , insider dealing , pension company sector , External audit , Securities , Financial Sector Assessment Program , Auditing , Securities markets , Europe

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Summary

This technical note focuses on the International Organization of Securities Commissions objectives and principles of securities regulations of Austria. The 2003 assessment found that Austria had fully broadly implemented a large majority of principles. The human resources of the Securities Supervision Department of the Financial Market Authority (FMA) should be increased, especially to conduct on-site inspections, in addition to the 14 planned appointments. Administrative fines should be raised further to levels elsewhere in Europe.