Financial Institutions in Liechtenstein Must Comply with Strict Regulations

The Financial Market Authority’s Banking Supervision Section is responsible for overseeing e-money institutions and ensuring compliance with relevant laws in Liechtenstein.

Licensing Process

As part of the licensing process, submitted documents are thoroughly reviewed for accuracy and completeness. The authority maintains ongoing supervision through regular reports and direct communication with institution boards and management.

Auditing Compliance

When it comes to auditing compliance by e-money institutions, the Financial Market Authority relies heavily on audit reports from external auditors. However, it may also conduct its own audits or accompany external ones. If violations of legal norms or grievances are detected, the authority takes swift action to restore order.

Enforcement Measures

In performing its duties, the Financial Market Authority may request information and documents from supervised entities and their auditors to enforce compliance with regulations. In extreme cases, it can:

• Order extraordinary audits
• Issue decisions and decrees
• Publish final decisions if non-compliance persists after a warning

The authority’s primary goal is to maintain a lawful environment for financial institutions operating in Liechtenstein.

Additional Information

For more information on the Financial Market Authority’s role in regulating e-money institutions, please refer to their German-language website.