Brexit: Government takes further preparatory action to prepare for the withdrawal of the UK from the EEA internal market in the field of investment services and activities
At its meeting of Tuesday, 17 November 2020, the Liechtenstein Government approved an amendment to the Banking Ordinance. This measure allows banks and 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 to eligible counterparties or professional clients (such as banks) in Liechtenstein even after 31 December 2020, provided that they have notified the FMA of these activities.
The amendment to the Banking Ordinance will enter into force on 1 December 2020. The press release of the Liechtenstein Government is available here in English and German.
The Liechtenstein Financial Market Authority (FMA) also published information on its website and announced that more details, particularly concerning instructions for the notification process, will be published before 1 December 2020.
The text of the amendment to the Banking Ordinance is available here.
More information can be found in the press release of the Liechtenstein Government.
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