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Liechtenstein’s Regulatory Bodies Keep Financial Sector Stable Amid Global Challenges

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Despite a turbulent global financial landscape, Liechtenstein’s financial sector has remained remarkably stable, according to a recent report from the country’s Financial Market Authority (FMA).

Effective Enforcement Policies Key to Stability

The FMA’s effective enforcement policies have played a crucial role in this stability, protecting customers and punishing violators of banking law. The report highlights the FMA’s efforts to curb market abuse and safeguard investors.

Regulatory Efforts

• In 2023, the FMA opened 88 administrative proceedings or criminal investigations.
• It concluded 192 ongoing cases and imposed fines totaling 1,489,500 Swiss francs for violations such as:
  • Insider trading
  • Market manipulation
  • Transactions involving clone companies

Notable Case

• A legal entity was fined 500,000 Swiss francs.

Criminal Complaints Lodged

• The FMA lodged nine criminal complaints with the public prosecutor’s office, alleging:
  • Market abuse
  • Unauthorized deposit-taking
  • Insider trading
  • Other financial crimes

Modernizing Financial Regulations

As part of its efforts to modernize financial regulations, the FMA has developed new guidelines for:

• Securities trading
• Digitalization
• Cryptocurrency trading

Revised Financial Market Act

• A revised version of the Financial Market Act is expected to be finalized by January 1, 2025.
• The government has tasked the FMA with further developing these regulations to ensure Liechtenstein’s financial sector remains a safe and attractive destination for investors.