Vision One, VOO and Copper One: No FMA approval

In response to a journalistic enquiry, the Austrian Financial Market Authority (FMA) has confirmed that none of the companies associated with VOO/Vision One, including Vision One Genossenschaft, VOO Aviation Service GmbH, VOO Flights GmbH and the Copper One project, hold an official licence to provide financial services. Similarly, none of the products offered have an approved capital market prospectus.

This clarification is explosive: internal recordings and advertising materials from Vision One Genossenschaft show that webinars, social media channels and exclusive member calls are apparently being used to deliberately give the impression that FMA authorisation is not required, with reference to an alleged ‘internal cooperative solution’. This is a construction that, in the view of capital market experts, suggests a deliberate circumvention of regulatory requirements.

The FMA notes that no authorisations have been granted to the companies mentioned. A legal assessment of the facts cannot be made at present due to a lack of information.

At the same time, the supervisory authority is requesting that all available documents be submitted so that it can determine, within the scope of its statutory audit mandate, whether there have been any violations of capital market regulations and whether supervisory measures are necessary.

Consumer protection advocates and we view the current developments with concern. ‘When companies without a licence sell high-risk products such as tokenised commodity investments or alleged bonds under the guise of a cooperative, this is a warning sign,’ says an insider at a consumer protection agency who does not wish to be named. In particular, advertising alleged capital investments exclusively to existing members is not a licence to circumvent applicable financial law.

The Vision One cooperative has come to prominence in recent months through aggressive sales activities. The links to the former sales structure of Safir/ZENIQ are obvious: numerous executives and sales partners operate in the same networks, often with new branding but the same mechanisms.

The FMA now has the opportunity to take action on the basis of concrete evidence. We have already forwarded the information we have gathered on this matter.

If you also have relevant information on this case or are affected yourself, please contact us confidentially at [email protected]. We will, of course, treat your information with journalistic diligence and protect your sources.

Note: This article is intended solely for information, journalistic analysis and independent opinion-forming within the meaning of Article 5 of the German Basic Law and Section 51 of the German Copyright Act (UrhG) (right to quote). All information is based on publicly available sources, official communications and careful editorial research. Despite the utmost care, we cannot guarantee the accuracy, completeness or timeliness of the information contained herein.

Sources: Email from the FMA, consumer protection, Vision One