E13: A conversation about cross-border services for Liechtenstein; benefits of access to the EU and Switzerland
In this episode, we explore how Liechtenstein benefits from its unique access to both the EU and Switzerland markets through the European Economic Area (EEA) agreement and the Customs and Currency Agreement with Switzerland. We discuss how the passporting regime allows Liechtenstein-based financial services to operate across both regions without separate entities. The episode also highlights how insurance providers can offer products in both markets with a single license and how asset managers benefit from MiFID compliance to serve EU clients. Finally, we touch on the role of the Financial Market Authority (FMA) in ensuring EU regulatory compliance.
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8:40
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8:40
E12: A conversation about family offices in Liechtenstein
In this episode, we explore the vital role of family offices in managing and growing wealth. Family offices in Liechtenstein offer a range of benefits, from privacy protection and tax advantages to cross-border wealth management in both the EU and Switzerland. We discuss how Liechtenstein's strong legal framework and favorable tax regime provide a stable environment for wealthy families to manage their assets across generations.
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11:09
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11:09
E11: A conversation about social security challenges for board members in Liechtenstein with residence in Switzerland or an EU State
In this episode, we explore the social security challenges faced by individuals who hold board mandates in Liechtenstein while residing in Switzerland or an EU state. These cross-border roles can complicate the determination of which social security system applies. We discuss the general rule that board members are typically subject to the social security system of their primary country of residence, but complexities arise when the board mandate in Liechtenstein is secondary or if the individual has no primary occupation in their home country.
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7:35
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7:35
E10: A conversation about ESG Risk Management and Scenario Analysis
In this episode, we dive into the EBA Guidelines on ESG Risk Management and explore how they aim to support financial institutions in managing ESG risks across multiple sectors. These guidelines set minimum standards for identifying, measuring, managing, and monitoring environmental, social, and governance risks, and align with the new EU Banking Package. We discuss how ESG risks should be integrated into traditional financial risk categories, including credit, market, and liquidity risks, and how scenario analysis and transition planning are essential tools in the process.
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11:19
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11:19
E9: A conversation about IFRS 18, the new standard for presentation and disclosures in financial statements
In this episode, we discuss IFRS 18, the new standard for presentation and disclosures in financial statements. We explore its main objectives, such as improving comparability and transparency of financial statements without introducing new measurement requirements. The episode covers key changes, including the categorization of the income statement into operating, investing, and financing categories, as well as management-defined performance measures (MPMs). We also discuss specific developments for banks and financial institutions, including guidance on foreign exchange treatment and derivatives.
In the «Liechtenstein Financial Services Podcast» we explore the legal, regulatory, financial, and tax perspectives of banks, funds, asset managers, and other key players in the Liechtenstein financial centre.
You can find our podcast on LinkedIn and explore more on the PwC Liechtenstein website, where we share additional resources and episode highlights. You can also listen to us on Spotify, Youtube, and Apple Podcasts.
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