IMF Staff Country Reports

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

Publication Date:

July 2, 2008

Electronic Access:

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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.

Series:

Country Report No. 2008/206

Subject:

Auditing Banking External audit Financial institutions Financial markets Financial Sector Assessment Program Financial sector policy and analysis Public financial management (PFM) Securities Securities markets