Die Österreichische Finanzmarktaufsichtsbehörde (FMA) kann gemäß § 92 Abs. 11 1. Satz Wertpapieraufsichtsgesetz 2018 (WAG 2018) durch Kundmachung im Internet oder in einer Zeitung mit Verbreitung im gesamten Bundesgebiet die Öffentlichkeit informieren, dass eine namentlich genannte natürliche oder juristische Person zur Vornahme bestimmter Wertpapierdienstleistungsgeschäfte (§ 3 Abs. 2 Z 1 bis 4 WAG 2018) nicht berechtigt ist, sofern diese Person dazu Anlass gegeben hat und eine Information der Öffentlichkeit erforderlich und im Hinblick auf mögliche Nachteile des Betroffenen verhältnismäßig ist.

Mit Bekanntmachung im Amtsblatt zur Wiener Zeitung vom 01.06.2019 teilt die FMA daher mit, dass die unbekannten Betreiber der Webseite

www.vpmwealth.com

enquiries@vpmwealth.com, mps-enquiries@vpmwealth.com

nicht berechtigt sind, konzessionspflichtige Wertpapierdienstleistungen in Österreich zu erbringen. Es ist dem Anbieter daher die gewerbliche Portfolioverwaltung durch Verwaltung von Portfolios auf Einzelkundenbasis mit einem Ermessensspielraum im Rahmen einer Vollmacht des Kunden, sofern das Kundenportfolio ein oder mehrere Finanzinstrumente enthält (§ 3 Abs. 2 Z 2 WAG 2018), nicht gestattet.

www.vpmwealth.com

The Austrian Financial Market Supervisory Authority (FMA) may inform the public in accordance with § 92 para. 11, 1st sentence of the Securities Supervision Act 2018 (WAG 2018) by announcing on the Internet or in a newspaper with distribution throughout the Federal territory that a natural person or legal entity named by name shall make certain Securities services transactions (§ 3 para 2 points 1 to 4 WAG 2018) is not entitled, provided that person has given cause and a public information required and in terms of possible disadvantages of the person concerned is proportionate.

With announcement in the official gazette to the Viennese newspaper from 01.06.2019 the FMA informs therefore that the unknown operators of the web page

www.vpmwealth.com

enquiries@vpmwealth.com, mps- inquiries@vpmwealth.com

are not entitled to provide investment services subject to a license in Austria. Therefore, the provider is not permitted to provide commercial portfolio management by managing portfolios on an individual customer basis with a discretionary power under a power of attorney provided that the customer portfolio contains one or more financial instruments (§ 3 (2) no. 2 WAG 2018).

What does the warning from the FMA mean to a supplier?

The company affected by the warning issued by the Financial Market Authority (FMA) has no authorization from the FMA (concession) to provide its services subject to a license. Accordingly, the company is not subject to the ongoing supervision of the FMA.

The publication of such alerts on the website of the Financial Market Authority and in the official gazette „Wiener Zeitung“ serves primarily to protect investors. It is met when a provider without authorization (license) of the Financial Market Authority in Austria acts. This does not necessarily mean that the company acts fraudulently, but most of these are fraudulent companies. Attention: The absence of a warning does not automatically mean that the provider is reputable.

A prerequisite for a warning is that the person concerned has been illicit and a warning is required and proportionate.

The person affected by an investor warning may demand a re-examination of this publication in order to safeguard his interests. The Financial Market Authority decides on this by decision and also publicly announces the initiation of a review.

As a result of a warning message, such providers often try to keep their customers with flimsy explanations. Keep in mind that a warning will only be published after a preliminary investigation and the FMA will justify it and not act lightly.