With the publishing of the FMA's supervisory priorities, the Austrian regulator intends to enable regulated entities to efficiently prepare for potential regulatory assessments. Following national and international trends, the FMA has determined six particular areas to focus its supervisory efforts and inspections on: (i) the resilience and stability of regulated entities (including measures to strengthen the resolution capacity of banks and to foster sustainable and careful lending practices), (ii) the impact of the digital transformation on ICT risks, risk management and governance of financial institutions, (iii) new business models, (iv) collective consumer protection (including the setup of a new and integrated consumer complaints and enquiries database), (v) the integration of sustainability risks into the risk management, strategy and governance of regulated entities and assessments of disclosures under applicable EU law, and (vi) a clean financial market in Austria. If you are interested in more details, you can find our Legal Insight here.
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