Austrian FMA levies fine on HNW
Chris Hamblin, Editor, London, 23 November 2019
The Austrian Financial Market Authority has imposed a fine of €400 on a private investor (by way of the accelerated conclusion of proceedings pursuant to Article 22 para. 2b of the Financial Market Authority Act.
The Act is also known as the FMABG or Finanzmarktaufsichtbehördengesetz. The private investor has tried to manipulate the market by conducting a fictitious transaction (crossing). The penal order is final.