#personal transaction

Austrian investment fund law aims at controlling personal transactions of certain managers and employees. To this end it is required that the management company be informed of any personal transaction of a relevant person; certain personal transactions of relevant persons be prevented altogether. In a recent decision the Supreme Administrative Court (VwGH) ruled that “any personal transaction” really means any; the transaction does not need to fulfill any additional requirement in order to trigger the information obligation. (2016/02/0004)