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SPOTLIGHT
by fma-li
4
FMA Annual Report 2021 TABLE OF CONTENT
MOST FAMILY-FRIENDLY
As part of the Government’s “family-friendly ’21” campaign, the FMA was awarded the title of most family-friendly company. The FMA attaches great importance to the compatibility of family and career. An updated human resources strategy aims to ensure that the FMA remains an attractive employer for women and men in all positions.
12
YEARS
HANDOVER ON THE BOARD OF DIRECTORS
After 12 years in the service of the FMA, Roland Mueller handed over the Chairmanship of the Board of Directors to his successor Christian Batliner at the end of December. Roland Mueller was Vice Chairman of the Board of Directors from 2010
to 2016 and Chairman from 2017 to 2021. Christian Batliner joined the Board of Directors at the beginning of 2020. Continuity is also ensured by Vice Chair Michèle Borgeaud, Yvonne Lang Ketterer, and Juerg Meier.
ANTI-MONEY LAUNDERING ASSESSMENT
During the reporting year, MONEYVAL, the Council of Europe's Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, conducted a country assessment of Liechtenstein's defence mechanism. The FMA monitors financial intermediaries' compliance with the due diligence requirements set out by law and imposes sanctions in the event of violations. The assessors interviewed more than 20 FMA
employees in nine intensive interviews.
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EMPLOYEES PUBLIC INFORMATION
On 8 February 2021, the FMA informed the public that it had appointed a temporary administrator for Mason Privatbank AG for the purpose of protecting clients. On 15 March, the bank issued a press release informing the public of the decision to voluntarily liquidate the bank. At the same time, the FMA informed the public that, in order to ensure client protection, it was taking the measures necessary for the implementation of the liquidation and resolution of ongoing business and was monitoring the liquidators and the liquidation.
S POTLIGHT FMA Annual Report 2021 5
PRINCIPLES OF ENFORCEMENT
Enforcement refers to the enforcement of supervisory law. With the strong regulation of the financial sector and expanded powers for supervisory authorities, enforcement has become more important in recent years. The rigorous prosecution of breaches of supervisory law is intended to have a preventive effect. In the reporting year, the Board of Directors defined ten principles of enforcement.
FOCUS ON CYBERSECURITY
Cyber risks pose challenges for the FMA and financial market participants. Security incidents in the use of information technology, such as data leaks and system failures, can cause major damage. The FMA has therefore issued a guideline on dealing with cyber risks and reviewed its own security concept in this regard.
STEP-BY-STEP MORE DIGITAL
The digital transformation has greatly challenged and changed the FMA in recent years. The most important milestones can be seen in the timeline.
THE CLASSIC HIKING TRAIL
HEADING TO THE MOUNTAINS AFTER WORK
The classic hiking trail high above Liechtenstein is breath-taking and adventurous. Simone and Sonja hiked it with their dog Kara and were thrilled. FMA Career Travel Blogger Annika accompanied the three mountain hikers with her camera on standby. It’s truly a privilege to have such an amazing mountain landscape right at your doorstep.
