The concept of compliance has grown steadily in recent years. Due to ongoing innovations, most recently in 2018 through the implementation of the ESMA/EBA guidelines on the new organizational requirements for the compliance of credit institutions, the compliance function has become increasingly important.

In Austria, the compliance function has three main areas of responsibility. In addition to the compliance requirements under the Securities Supervision Act (WAG 2018) and the function of money laundering officer under the Financial Markets Money Laundering Act (Fm-GwG), the specific requirements under Section 39 Paragraph 6 of the Banking Act (BWG) must also be observed.

Thanks to our many years of experience in and with banks, we also understand the individual needs of your institution in addition to the requirements of the supervisory authorities.