Informal preliminary discussions

The FMA invites all interested parties who wish to acquire a CASP licence in Liechtenstein to register for an informal preliminary discussion. These discussions primarily serve to provide orientation regarding timing and content and to outline the FMA's expectations concerning the (preliminary) application to be submitted pursuant to Article 63 MiCAR or the notification pursuant to Article 60 MiCAR.

 

Registering for a preliminary discussion makes sense if there is a serious and sufficiently concrete interest in acquiring a licence in Liechtenstein or if you are already in the process of preparing the (preliminary) application or the notification pursuant to Article 60 MiCAR.

New interested parties

Interested parties who are not yet known to the FMA and do not hold a licence in Liechtenstein under one of the laws referred to in Article 5(1) of the FMA Act are requested to answer the following questions in advance and send them to casp[at]fma-li.li:

  • Interested party and intent

    • Description of the undertaking and its owners. If a group exists, submission of the current group and target group structure in the form of an organisational chart (including shares and voting rights).
    • Description of the financial background and financial soundness of the interested party (in particular, equity ratio, liquidity, and annual financial statements). Explanation of the origin of the funds used to raise capital and operate the company.
    • Indication of the reasons for choosing Liechtenstein as the location for the planned operation of the business model, including whether the business model has also been presented in other jurisdictions.
  • Business model

    Description of the planned business model, taking the following questions into account:

    • Which services/activities (including those outside MiCAR) are to be provided, and for whom (in particular, clients and target market)?
    • Which MiCAR services are to be applied for?
    • What outsourcing is expected? Where and how is the ICT infrastructure operated?

    Experience and qualifications

    • What experience and qualifications does the undertaking have in relation to the planned business model?
    • If the planned members of the management team are already known, provide a description of their future functional areas and submit their curricula vitae.

    Description of the planned presence strategy in Liechtenstein, particularly considering the following questions:

    • What substance is planned to be established in Liechtenstein?
    • Which parts of the service are to be provided locally, and to what extent?
    • How many employees are expected to work in the Liechtenstein company after obtaining the licence?
  • Compliance

    Enquiries and licences

    • Have other EEA countries been or will be approached regarding a potential MiCAR licence, and if so, which ones? Provide a description of the relevant strategy.
    • Have licences relevant to financial market law been or will be applied for in other EEA countries, and/or are such licences already held? If so, provide a description of the licence, its (procedural) status, and the background.
       

    Prior applications and proceedings

    • Have applications for financial market licences been rejected and/or withdrawn in the past? If so, please provide a description of the background. 
    • Have there been or are there any relevant proceedings and/or convictions against the interested party, individual or multiple companies within the group, their management bodies, and/or their owners? If so, please provide a description of the background.

Interested parties already licensed in Liechtenstein

If a licence is already held in Liechtenstein under one of the laws listed in Article 5(1) FMAG (e.g. bank, investment firm, electronic money institution, payment institution, Asset Management Act licence, TT service provider, etc.), the basic interest in an informal discussion can be communicated by email to casp[at]fma-li.li

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