Liechtenstein Financial Market Authority

Liechtenstein Financial Market Authority (FMA) serves as an integrated and independent supervisory authority responsible for overseeing financial market participants in the Liechtenstein financial centre. Through its supervisory activities, the FMA ensures the stability of financial institutions and the broader financial market, while safeguarding client interests; where supervisory rules are violated, it takes necessary enforcement measures to protect clients and uphold the reputation of the financial centre, including addressing cases where licensable activities are conducted without the appropriate authorization. 

The Liechtenstein FMA covers the regulation of banks, insurance companies and intermediaries, pensions funds, investment companies, asset management companies and other financial intermediaries. In its regulatory role, the FMA ensures the implementation of international standards, participates in drafting financial market legislation on behalf of the Government, advocates for sustainable regulation that enables efficient and effective supervision, and further clarifies laws and their implementing ordinances by issuing guidelines and communications.

Through Liechtenstein’s membership of the European Economic Area (EEA) licenses issued by FMA allow companies to operate some services through all member countries of the EEA.

The Investment Firms Act (WPFG) sets out authorisation and organisational requirements for investment firms, aiming to protect investors and maintain confidence in the Liechtenstein capital market.

The Investment Services Act (WPDG) establishes conduct-of-business rules that investment firms must follow when providing investment services or performing investment activities.

The Trading Venues and Exchanges Act (HPBG) governs market operators of regulated markets as well as alternative trading venues such as MTFs and OTFs, systematic internalisers, and algorithmic trading. It also includes supplementary issuer obligations and rules on admitting financial instruments to trading.

To ensure compliance, the FMA monitors financial service providers through defined reporting requirements. Investment firms must fulfill periodic and ad hoc reporting obligations as outlined in FMA instructions, using the FMA’s e-Service forms.

Fintech: 

The necessary implementation into Liechtenstein law is carried out through the Law implementing Regulation (EU) 2023/1114 on Markets in Crypto-Assets (EEA MiCA Implementation Act, EWR-MiCA-DG), which entered into force on 1 February 2025. 

• The offer to the public and application for admission to trading of asset-referenced tokens (ARTs). 
   
• The offer to the public and application for admission to trading of e-money tokens (EMTs). 
   
• The offer to the public and application for admission to trading of crypto-assets other than ARTs and EMTs (Title II tokens). 
   
• The provision of crypto-asset services by crypto-asset service providers (CASPs). 

Generally speaking, FMA-regulated broker profile will be found at the Register of licensees page on FMA website. Try to find it and check if it will match the info from the broker website.

The detailed steps are as below:

1. Find the FMA Registration Number or name of the financial provider, which you can get from the its website; 

2. Enter the Registration Number or Name into the search bar on https://register.fma-li.li/search;

3. Click on "Overview" to view additional company details.

When you have disputes with a FMA-regulated broker, you can proceed the following ways:

Step 1: The Liechtenstein Financial Market Authority (FMA) recommends first contacting the financial intermediary or wire transfer service provider directly to clarify the issue.

Step 2: Submit a complaint to the Liechtenstein FMA:

• Complainant’s details:
  Full name (first and last);
  Contact information (address, phone number, email).

• Details of the relevant party:
  Name or business name of the regulated financial intermediary or other entity/person;
  Address;
  Relationship (e.g., client, interested party).

• Complaint content:
  Description of the facts;
  Grounds for the complaint;
  Supporting documents (e.g., correspondence, account statements, contracts, investor materials, product information, marketing materials)—copies only, not originals.

• Date and signature

Send the complaint to the FMA via:

Email: info@fma-li.li
Postal address:
Financial Market Authority Liechtenstein
Landstrasse 109
P.O. Box 279
9490 Vaduz
Liechtenstein