FMA CIRCULAR ON THE SUITABILITY TEST OF BUSINESS
FMA CIRCULAR ON THE SUITABILITY TEST OF MANAGING DIRECTORS: PART 3 October 2, 2023 Experience is crucial. A managing director's experience is crucial to meeting the professional requirements for managing an institution. It is important not only to have theoretical knowledge but also practical experience in relevant areas. […]
SUPERVISORY BOARD: REQUIREMENTS FOR INDEPENDENCE
The independence of members of the management or supervisory board is an essential criterion for the proper performance of their duties.
FMA CIRCULAR ON THE SUITABILITY TEST OF MANAGING DIRECTORS: PART 2
FMA CIRCULAR ON THE SUITABILITY TEST OF MANAGEMENT DIRECTORS: PART 2 October 1, 2023 Here is the second part of the blog post on the requirements for management and supervisory board members. In order to properly assume overall responsibility within the management board and the monitoring and control tasks within the supervisory board, it is essential that every member of the management board and the supervisory board of a supervised […]
FMA CIRCULAR ON THE SUITABILITY TEST: PART 1
FMA CIRCULAR ON THE SUITABILITY ASSESSMENT OF MANAGING DIRECTORS: PART 1 October 1, 2023 Circular on Suitability Assessment The Financial Market Authority (FMA) recently published a circular concerning the suitability assessment of managing directors, supervisory board members, and key function holders in credit institutions, financial holding companies, and investment firms. In this four-part blog post, we will discuss the contents of this circular in more detail. Subject: The FMA circular […]
REQUIRED MANAGEMENT EXPERIENCE FIT & PROPER
REQUIRED MANAGEMENT EXPERIENCE October 1, 2023 What are Fit & Proper Tests? Assessing a potential business manager's managerial experience is a critical step in assessing their professional suitability. Several factors must be considered to ensure the individual has the necessary qualifications to lead a financial institution in a senior position. Here are some […]
FMA KNOWLEDGE CHECK
FMA VERIFICATION OF REQUIRED KNOWLEDGE, SKILLS, AND EXPERIENCE October 1, 2023 What are Fit & Proper Tests? Determining the professional qualifications and experience of a potential business manager is a multi-stage process aimed at ensuring that the necessary requirements are met. The FMA conducts this verification carefully by consulting various sources […]
SPECIAL REQUIREMENTS REGARDING THE PROFESSIONAL QUALIFICATION OF SUPERVISORY BOARD CHAIRMEN
SPECIAL REQUIREMENTS REGARDING THE PROFESSIONAL QUALIFICATION OF SUPERVISORY BOARD CHAIRMEN October 1, 2023 In the world of banking and financial services, the role of the chairperson of the supervisory board is crucial. They are not only responsible for overseeing the bank's business but also contribute significantly to its strategic direction and long-term success. Therefore, special requirements […]
Anforderungen an Inhaber von Schlüsselfunktionen
Auch Geschäftsleiter von bedeutenden Zweigstellen gemäß § 18 BWG und leitende Angestellte von Tochterunternehmen in einer Unternehmensgruppe können als Inhaber von Schlüsselfunktionen qualifiziert werden.
Interne Kontrollfunktion
Anforderungen an Leiter interner Kontrollfunktionen: Die Wächter im Hintergrund 1. Oktober 2023 Hohe Anforderungen an Banken In der komplexen Welt der Finanzinstitute und Banken spielen interne Kontrollfunktionen eine entscheidende Rolle, um die Integrität und Sicherheit des Geschäftsbetriebs zu gewährleisten. Leiter dieser Funktionen müssen hohen Anforderungen genügen, um sicherzustellen, dass sie ihre Aufgaben effektiv und unvoreingenommen […]
Einführung in das Thema Fit & Proper bei Banken
Einführung in das Thema Fit & Proper in Banken 1. Oktober 2023 Institute sind verantwortlich In der heutigen Wirtschaftswelt sind Banken und Finanzinstitute von entscheidender Bedeutung, da sie eine wichtige Rolle bei der Bereitstellung von Finanzdienstleistungen und -produkten spielen. Um die Integrität und Stabilität des Finanzsystems sicherzustellen, müssen diese Institute sicherstellen, dass ihre Führungskräfte und […]