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Financial Market Authority Terminates Inquiry Against CEO of Erste Group
Companies ♦
Published: November 24, 2011; 19:57 ♦ (Vindobona)
The head of the Austrian bank group had been accused of balance sheed fraud. A second investigation for alleged market manipulation is still ongoing.
Financial Market Authority Terminates Inquiry Against CEO of Erste Group / Picture: © Vindobona.org
The recording of credit default swaps (CDS) at their historic value will not have any consequences for Erste Group. The Austrian Financial Market Authority (FMA) today confirmed that it has terminated the inquiry against Andreas Treichl, the bank’s CEO, in this matter.
“There was no violation of the Austrian Banking Act”, a spokesman of the FMA stated. Erste Group had…
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