Financial Crime World

Title: Liechtenstein’s Financial Market Authority: Safeguarding the Principalality’s Economic Pillar

Introduction

Vaduz, Liechtenstein - The Financial Market Authority (FMA),based in Vaduz, is an independent, integrated financial market regulatory body in Liechtenstein. Established on January 1, 2005, the FMA safeguards the stability and integrity of the financial markets within the Principality.

History

  • Launched in response to the growing importance of financial markets in Liechtenstein’s economy
  • Accounts for approximately a quarter of the nation’s GDP
  • Established to acknowledge the necessity of a robust, independent financial regulator

Significant Incidents

2008 Liechtenstein Tax Affair

  • Former data entry clerk stole data from a Liechtenstein trust regulated by the FMA
  • Sold data to tax authorities in other countries
  • Threatened Liechtenstein’s financial sector
  • FMA played a crucial role in the investigation alongside the government

Responsibilities and Functions

Mandate: Safeguarding the stability of the financial market, protecting clients, preventing abuse, and ensuring compliance with recognized international standards

Core Principles: Supervision, regulation, external relations, enterprise, and teamwork

Structure

Governing Body

  • Board: Chaired by Prof. Dr. Roland Müller, Vice-Chaired by Michèle Borgeaud

Management Team

  • CEO: Mario Gassner
  • Deputy CEO
  • Head of Insurance and Pension Fund Division: Dr. Alexander Imhof
  • Head of Securities and Markets Division: Dr. Marcel Lötscher
  • Head of Banking Division and Head of Other Financial Intermediaries Division: Patrick Bont
  • Head of Central Services and Anti-Money Laundering and DNFBP Division: Werner Meyer

FMA’s Extended Reach

Beyond Liechtenstein’s Borders

  • FMA licenses allow companies to offer services throughout the European Economic Area (EEA)

Conclusion

Transparency and accountability: Find more information about the FMA on their official website and related external links.

Additional information can be found on the FMA’s official website and related external links.