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F oreword
TABLE OF CONTENT
FMA Annual Report 2021
The Liechtenstein financial centre is in very good shape and on a growth path. The financial sector has continued to perform reliably in the second year of the Covid-19 pandemic, supporting the real economy. The Liechtenstein economy as a whole has demonstrated high resilience during the global recession.
With the outbreak of war in Ukraine, however, the
financial sector is once again facing a major and unexpected challenge. In addition to the high volatility on
the financial markets, the rise in energy and food prices
and the associated supply shock will have a significant impact on the global economy and further increase
parency for market participants. Enforcement has
become more important in our supervisory activities.
Rigorous enforcement of the complex and extensive
supervisory law is intended to eliminate defects and achieve a preventive effect.
inflationary pressure. The FMA is in close contact with
The FMA is an attractive employer. In 2021, it was rec-
the risks and address them effectively by means of
tenstein. An updated human resources strategy is
financial intermediaries in order to properly classify suitable micro- and macroprudential instruments.
During the second year of the Covid-19 pandemic, the FMA team mainly worked together virtually. With the
ognised as the most family-friendly company in Liechintended to secure the FMA’s attractiveness as an
employer. The strategy builds on what has proven to
be effective, and it includes developments in the working world such as new forms of work and changing
FMA’s high level of digital maturity, the technical
needs of employees.
met, but the work situation was challenging for all
Our authority has been taking a close look at sustain-
positive attitude and reliable work during this time.
regulatory projects and incorporates the new rules –
requirements for smooth supervisory operations were
employees. They deserve our deepest thanks for their
able finance. The FMA supports the Government in
to prevent greenwashing, for instance – into its super-
In this Annual Report, we portray our core principles.
visory activities. The financial sector has a major role
outline the values we uphold to achieve our goals.
of course, also act sustainably in the environmental
These core principles guide us in the way we work and
In addition to this internal impact, the core principles
show our stakeholders what we stand for. We and our work should be measured by these core principles.
The principles of the enforcement of supervisory law, which we defined during the reporting year, are also
intended to provide guidance for employees and trans-
to play in achieving sustainability goals. The FMA must, and social context and as part of good corporate governance.
In the reporting year, Liechtenstein's anti-money laundering (AML) defence mechanism was assessed by
MONEYVAL. Anti-money laundering has been a priority for the FMA for many years. In 2019, the FMA
