Prevention

Completion of compliance advisory services for the FMA

The BAK has carried out a compliance consultation for the Austrian Financial Market Authority (FMA). It has accompanied the FMA in achieving its objective of enhancing its existing compliance management system.

The project started in March 2020 and focused on a systematic analysis of already existing measures and activities in the fields of compliance, corruption prevention, and promotion of integrity. In addition, joint workshops and interactive presentations were held to address the following topics: compliance risks, compliance culture and establishment of a code of conduct, compliance training and compliance organization.
On the basis of these activities and analyses, the BAK’s advisory team, in cooperation with the FMA compliance team, drew up recommendations on the key aspects of the advisory services offered and outlined them in a comprehensive final report. The consultation concluded with the submission of the final report in March 2021.