Authorizations
Under the AIFM Act, the FMA authorizes alternative investment fund managers (AIFMs) and alternative investment funds (AIFs) managed by them. Risk managers, administrators, and distributors may also be licensed under the AIFM Act. The FMA has the statutory power to grant, amend or revoke licences.
- FMA Instructions 2017/2: Instructions on establishing an alternative investment fund manager (AIFM)
- Law of 19 December 2012 concerning the Managers of Alternative Investment Funds (AIFMG)
- Ordinance of 22 March 2016 concerning the Managers of Alternative Investment Funds (AIFMV)
Supervision
Managers of alternative investment funds (AIFM), alternative investment funds (AIF) as well as the risk managers, administrators, and distributors are subject to on-going supervision by the FMA. The FMA enforces the law (AIFMA) and the ordinance (AIFMO) as well as all directly applicable European regulations. The FMA applies a risk based supervisory approach with individual supervisory examination programs for each supervised market participants and their financial products.
- FMA Guideline 2015/2: Code of Conduct for the Liechtenstein Fund Centre
- FMA Communication 2018/3: Dealing with cyber risks
- Self-Assessment-Tool Cyber-Risik in connex to FMA Communication 2018/3
Crossborder activities
AIFM may provide their services or distribute units of AIF in other EEA Member States based on notifications between national competent authorities (so called "EU passport").