Supervisory Disclosure

Directive (EU) 2019/2034 (IFD) stipulates in Article 57 that competent authorities must disclose certain information in order to improve the effectiveness of the internal market for investment firms and to ensure an appropriate level of transparency for the general public.

The FMA fulfils this requirement with the information provided below. The published information should enable a meaningful comparison between the approaches of the competent authorities of the various Member States.

The disclosure requirements are set out in national law in Article 42g of the Asset Management Act (VVG) and are specified in detail by Commission Implementing Regulation (EU) 2022/389. Based on a draft by the European Banking Authority (EBA) in consultation with the European Securities and Markets Authority (ESMA), the European Commission sets out in that Regulation the format, structure, content lists, and annual publication date of the information to be disclosed by the competent authorities.

The disclosure requirements of the FMA are divided into the following four chapters: