The Liechtenstein Financial Market Authority has published amendments to its guidance, making conceptual adjustments required by Regulation (EU) 2023/1114 on markets in crypto-assets (MiCAR) and the EEA MiCA Implementation Act. The authority has also updated terminology throughout the guidance to reflect the MiCA framework. Changes to Articles 7 and 25 DDO add references to the use of electronic means of identification in line with the eIDAS Regulation and include additional explanations on delegation. The amendments also clarify the approach to Adverse Media Screening: where comprehensive customer screening was performed during onboarding, due diligence subjects that cannot be “white listed” in the system may limit subsequent screening to content published since the last screening, excluding material already reviewed.
Liechtenstein Financial Market Authority 2025-05-09
Liechtenstein Financial Market Authority amends due diligence guidance to align terminology with MiCAR and clarify eIDAS identification and adverse media screening
The Liechtenstein Financial Market Authority has updated its guidance to align with Regulation (EU) 2023/1114 on markets in crypto-assets (MiCAR) and the EEA MiCA Implementation Act, updating terminology. Changes to Articles 7 and 25 DDO incorporate electronic identification per the eIDAS Regulation and provide additional explanations on delegation. The amendments clarify Adverse Media Screening procedures, allowing limited subsequent screening for due diligence subjects that cannot be "white listed."