Supervision/reporting on an ad hoc basis

Along with the proper supervision of due diligence, the TVTG provides for a supervisory system purely on an ad hoc basis, primarily targeting compliance with the registration requirements by TT service providers.

“When supervising TT service providers, the FMA will check compliance with due diligence duties, while compliance with registration requirements is only checked on an ad hoc basis.” (Berichte und Anträge der Regierung an den Landtag [reports and motions submitted to the Landtag, i.e. Parliament, by the government], BuA, No. 54/2019, section 7.2)

The reporting obligations set out in Article 28 of the TVTG take on particular significance accordingly.

The relevant reporting forms can be accessed in the FMA e-Service portal.

FMA Instruction 2020/3 – Reporting and notification requirements under the TVTG

Some TT service providers are subject to due diligence supervision