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.
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.
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Guideline •AIFM •Verwaltungsgesellschaften nach IUG 2015 •Verwaltungsgesellschaften nach UCITSG •AIFMG •IUG 2015 •UCITSG
FMA Guideline 2015/2
Code of Conduct for the Liechtenstein Fund Centre (0.27 MB)
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").
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Instruction •AIFM •AIFMG
FMA Guideline 2019/16
Guideline on EEA AIF and EEA AIFM notification procedures (0.16 MB)