FMA in Austria Issues Warning against Werner Stocker

The FMA is an integrated supervisory authority established in 2002.

The Financial Markets Authority (FMA), Austria’s financial watchdog, today updated its warning list to include Werner Stocker, a provider of investment products and services, for carrying out unlicensed financial activities, according to a recent regulatory statement.

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Werner Stocker is an Austrian based provider of investment, advisory and wealth management services, dedicated to providing financial services to both individuals and businesses.

The financial watchdog today updated its warning list by blacklisting the firm which is currently operating through the website and facilitates discretionary and advisory investment management services.

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According to the warning, Werner Stocker claims to be authorized to provide financial services in Austria, however this is not true. The provider is therefore not entitled to provide portfolio management by way of managing portfolios in accordance with mandates given by clients where such portfolios include one or more financial instruments.

The FMA is an integrated supervisory authority established in 2002. It brings together the supervision of all financial providers and functions in Austria under a single roof. The regulator is focused on identifying and blacklisting any individual or entity that is operating in Austria without a licence or authorisation, where that is required by law.

The FMA updates the public by means of warnings and alerts when it believes that investors may be at risk. Businesses and individuals are named on this list if they are not registered to provide financial services in Austria and/or had the FMA enforce action against them for misconduct.

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