Regulatory Alerts2026-04-15
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FMA publishes Annual Report 2025
The Financial Market Authority (FMA) Liechtenstein published its 2025 Annual Report, outlining a resilient financial sector amid geopolitical and macroeconomic challenges while detailing the implementation of MiCAR and the DORA Implementation Act. The regulatory updates introduced new authorization categories for crypto-asset service providers, aligned national banking supervision with EEA standards, and approved Liechtenstein’s first covered bond institute. Concurrently, the FMA closed 75 enforcement proceedings resulting in CHF 650,000 in fines and initiated a structural optimization project to streamline internal processes and reduce regulatory burdens.
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