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Financial Market Authority (FMA) Regulations and Directives

The Financial Market Authority (FMA) in Liechtenstein has established policies, regulations, and directives to ensure the stability and security of the country’s financial system. This section highlights key aspects of FMA’s guidelines for banks, financial institutions, and other entities operating within Liechtenstein.

Capital Buffers

The FMA conducts an annual analysis to identify systemically relevant institutions (A-SRIs) in Liechtenstein. The purpose of this assessment is to determine which institutions have a significant impact on the country’s financial system. As a result, A-SRIs may be assigned an additional capital buffer of up to 2% of their total risk amount.

Recovery and Resolution

The Recovery and Resolution Act in Liechtenstein transposes the European Recovery and Resolution Directive (BRRD). This regulation aims to ensure the stability of financial institutions by providing a framework for recovery and resolution measures. The FMA is appointed as Liechtenstein’s resolution authority, with specific powers to resolve financial institutions.

Key Resolution Objectives

• Ensure continuity of critical functions
• Avoid significant adverse effects on the financial system
• Protect public funds and minimize reliance on extraordinary support
• Protect covered deposits and investments
• Protect client funds and assets

Specific Fields of Business

Liechtenstein has specialized regulations for new initiatives in the financial sector, such as blockchain technology. The Law on Token and Trustworthy Technology Service Providers entered into force in 2020, regulating registration, supervision, and customer documentation requirements for service providers in this sector.

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