Brexit: Information for UK credit institutions and investment firms

At its meeting on 17 November 2020, the Government approved an amendment to the Banking Ordinance (insertion of Art. 35c). This measure allows credit institutions or investment firms established in the United Kingdom of Great Britain and Northern Ireland to continue to provide investment services and activities as well as ancillary services under Annex 2 Sections A and B of the Banking Act to eligible counterparties or professional clients (such as banks) in Liechtenstein even after the United Kingdom has left the EEA internal market.

Credit institutions or investment firms with registered offices in the United Kingdom must notify the Liechtenstein Financial Market Authority (FMA) of the take up or termination of these activities in Liechtenstein.

The rules entered into force on 1 December 2020 and will apply until the date of entry into force of an equivalent equivalence decision at EEA level. The Liechtenstein Government repealed the original expiration date of 31 December 2022 on 5 July 2022. Existing notifications of UK credit institutions or investment firms (on the basis of Art. 35c Banking Ordinance) remain valid. No additional notification is necessary.