Liechtenstein: Assessment of Financial Sector Supervision and Regulation

IMF Staff Country Reports, June 24, 2008

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Liechtenstein: Assessment of Financial Sector Supervision and Regulation

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Bibliographic details

• Published: June 24, 2008
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9781451823332.002

Summary

• The financial sector in Liechtenstein provides primarily wealth-management services, including banking, trust, other fiduciary services, investment management, and life insurance.
• The establishment of the Financial Market Authority (FMA) as the unified, independent regulator in January 2005 is a huge step for the financial services industry.
• The FMA and other authorities have been successful in implementing most of the recommendations provided in the earlier 2002 IMF assessment.
• The authorities and the industry continue to make significant efforts to strengthen the antimoney laundering regime, though there is still work ahead.

Major findings

• Primary activities: wealth-management services (banking, trust, other fiduciary services, investment management, life insurance).
• Regulatory reform: creation of the FMA in January 2005 as a unified, independent regulator marked a major development.
• Implementation progress: most recommendations from the 2002 IMF assessment have been implemented by the FMA and other authorities.
• AML/CFT: significant ongoing efforts to strengthen the antimoney laundering regime; remaining work required.

Subject areas and keywords

• Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Asset and liability management, Asset management, Banking, Crime, Financial institutions, Financial services, Insurance, Insurance companies
• Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), asset, Asset management, authority, CR, due diligence, EEA membership, EEA requirement, Europe, FMA Act, FMA order, FMA representative, Global, Insurance, Insurance companies, ISCR, Liechtenstein, Liechtenstein regime

Content in this bundle

• _cr08195 - Appendix II provides the Report on the Observance of Standards and Codes
  • _cr08195 - Appendix II provides the Report on the Observance of Standards and Codes (Markdown version)
  • _cr08195 - Appendix II provides the Report on the Observance of Standards and Codes (PDF)