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Licensing Requirements for Banks and Investment Firms in Liechtenstein

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The Financial Market Authority (FMA) in Liechtenstein has established various laws, regulations, and guidelines to ensure that banks and investment firms operate within the country’s financial framework. This article provides a summary of the key points related to licensing requirements for these institutions.

The following laws and regulations provide the legal basis for licensing banks and investment firms in Liechtenstein:

  • Liechtenstein Law on Banks and Investment Firms (Bankengesetz, BankG)
  • Liechtenstein Ordinance on Banks and Investment Firms (Bankenverordnung, BankV)
  • Liechtenstein Persons and Companies Act (Personen- und Gesellschaftsrecht, PGR)
  • Due Diligence Act (Sorgfaltspflichtengesetz, SPG) to combat money laundering, organized crime, and terrorist financing

FMA Guidelines

The FMA has issued several guidelines that provide further guidance on licensing requirements:

Prudential Assessment of Qualifying Holdings

  • 2017/20: This guideline outlines the prudential assessment of qualifying holdings.

Capital Requirements

  • 2017/10: This guideline discusses obligations regarding equity capital and capital requirements under the CRR/BA/BO.
  • 2017/9: This guideline explains disclosure requirements under the CRR/BA/BO.
  • 2017/7: This guideline outlines liquidity requirements under the CRR/CRD IV.

Licensing Checklists

The FMA has prepared several licensing checklists to help applicants ensure that they meet all the necessary requirements for licensure:

For Banks

  • Ensure compliance with prudential assessment of qualifying holdings (2017/20)
  • Meet capital requirements under the CRR/BA/BO (2017/10)
  • Comply with disclosure requirements under the CRR/BA/BO (2017/9)
  • Fulfill liquidity requirements under the CRR/CRD IV (2017/7)

For Investment Firms

  • Ensure compliance with prudential assessment of qualifying holdings (2017/20)
  • Meet capital requirements under the CRR/BA/BO (2017/10)
  • Comply with disclosure requirements under the CRR/BA/BO (2017/9)
  • Fulfill liquidity requirements under the CRR/CRD IV (2017/7)

For Investment Firms with Administration Rights

  • Ensure compliance with prudential assessment of qualifying holdings (2017/20)
  • Meet capital requirements under the CRR/BA/BO (2017/10)
  • Comply with disclosure requirements under the CRR/BA/BO (2017/9)
  • Fulfill liquidity requirements under the CRR/CRD IV (2017/7)

For Provision of MTF Investment Services

  • Ensure compliance with prudential assessment of qualifying holdings (2017/20)
  • Meet capital requirements under the CRR/BA/BO (2017/10)
  • Comply with disclosure requirements under the CRR/BA/BO (2017/9)
  • Fulfill liquidity requirements under the CRR/CRD IV (2017/7)

Overall, this document provides a comprehensive overview of the licensing requirements for banks and investment firms in Liechtenstein.