Country Manual Private Banking
Austria
out of Bank’s Country of Establishment (Def, RS, BT & RT)
| Source of changes | Answers |
|---|---|
| Law / Regulation | No |
| New Position of the Authorities | No |
| Evolution of Expert’s Interpretation | Yes |
Regulatory Template, Regulatory Summary and Behaviour Template
Material changes
The Regulatory Summary has been discussed and reviewed with the local legal advisers.
The following changes have been made to the BT and RT as a result.
We have added an extra comment – no use of prohibited words – to the answers for actively Presenting the bank in general terms, Providing an annual report, and Providing marketing brochures by remote means.
We have changed the answers for – Passively presenting the bank in general terms, Providing an annual report, and providing marketing brochures in relation to Non-qualified and Qualified clients by remote means- from YES to Grey zone/YES with the comment “no use of prohibited words”.
The answers for actively providing documentation on Banking Services to Qualified clients by remote means also now have “the comment no use of prohibited words”.
We have changed the answers for Passively Providing documentation on Banking Services to Qualified clients by remote means from YES to Grey zone/YES with the comment “provided the Bank limits its response to the specific enquiry by the prospect.
We have changed the answers for: Passively Offering credit cards and Lombard Credit remotely to a Non-Qualified client from YES to Grey zone/YES – local consumer rules may apply.
The activity of providing research now has an extra comment when the answer is Grey zone/YES – “No inducement to carry out securities business”.
Note that the limited connection relief under the ASIC Corporations (Financial Service Providers – Limited Connection) Instrument 2017/182 expires in March 2026 – it is likely to be replaced by a new licencing regime for Foreign Financial Service Providers.
Non-material changes
The section on Consumer Protection has been updated with new wording.
Regulatory Summary
This document has now a more user-friendly layout and reflects the changes contained in the RT.
BT Short Comparison
This document allows users to quickly identify the modifications made compared to the previous version of the PB Manual (BT Short Comparison). The BT Short Comparison can be found on BRP’s platform (mybrponline) in the Search tab by entering in the Document Field “CM PB BT SHORT COMP” and “AUSTRALIA” in the Target Country Field.
The BT Short Comparison should be read as follows:
The first column contains a short description of the activity in question. The second column contains the answers of the previous version of the Country Manual (online until the day of the alert). The third column contains the new answers of the most recent version of the Country Manual. Only the modified answers are displayed (in color). If the answers in the new version are unchanged compared to the previous version, they are shaded in grey.
For more information, please contact us: info@brpsa.com
Geneva, October 23rd, 2025