Tasks of the FMA as the supervisory authority in the financial markets area

The Financial Market Authority (FMA) Liechtenstein supervises capital-market-related activities in and outside of Liechtenstein. Although Liechtenstein has, thus far, not had its own regulated market (stock exchange) within the meaning of the European regulations, it does have companies and market participants (whether as supervised intermediaries or supervised products), which are admitted to trading on a European stock exchange or a stock exchange in a third country (e.g. Switzerland).

Listed companies and market participants are required to comply with various transparency, notification and conduct requirements. These requirements are based on the financial market regulations summarised in this section.

Market participants will, in future, have to satisfy new reporting, notification and prudential requirements in respect of the FMA. The FMA occupies a central role in relation to reporting and notification requirements and acts as an important interface between financial intermediaries and the European Securities and Markets Authority (ESMA). Accordingly, the FMA’s Securities and Markets Division constitutes a central contact point for market-related reporting and notification duties.

You will find further information on the relevant legislation under the subheadings below. This information will be updated and amended to reflect the current status of its adoption under the EEA Agreement.

  • Market transparency under MiFID II/MiFIR
  • EMIR
  • Short selling
  • Market abuse
  • Transparency Directive/financial reporting enforcement
  • Central securities depositories
  • Credit Rating Agencies Regulation

You can check the current adoption status under the EEA by clicking on the following link and typing in the regulation number. Moreover, the EEA team is available for questions on the incorporation of European legislation into the EEA acquis or Liechtenstein national law. Following the Principality of Liechtenstein’s accession to the Agreement on the European Economic Area (EEA Agreement), the government established the EEA team to deal with EEA matters.

In addition, information events will be organised for market participants in the course of 2017. The FMA will, on a timely basis, provide information regarding these events by sending out a newsletter and distributing information via the associations.

Should you have any questions, our Securities and Markets Division would be pleased to assist you at any time.

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