VP Bank has defined binding Group-wide compliance standards and compiled them in a manual. These standards create uniform conditions for ensuring impeccable business activities.
Verwaltungs- und Privat-Bank Aktiengesellschaft (VP Bank), Vaduz, is constituted as a joint-stock company under Liechtenstein law. It is the parent company of the VP Bank Group. The responsible supervisory body in the company’s country of domicile is the Liechtenstein Financial Market Authority (FMA).
Because the bearer shares of the parent company are listed on the SIX Swiss Exchange, VP Bank is also subject to the rules and regulations of SIX that have been enacted on the basis of Switzerland’s Federal Act on Stock Exchanges and Securities Trading of 1995 and the related implementing ordinances.
In each country in which the VP Bank Group has subsidiaries, asset management companies or representative offices, the business activities of those entities are supervised by the responsible local authorities.
Binding laws
Liechtenstein Act on Banks and Finance Companies (Banking Act, BankA)
Implementing Ordinance on Banks and Finance Companies (Banking Ordinance, BankO)
Markets in Financial Instruments Directive (MiFID)
Ordinance on Equity Capital and Risk Diversification for Banks and Finance Companies
Law on Professional Due Diligence to Combat Money Laundering, Organized Crime, and Terrorist Financing (Due Diligence Act, DDA)
Money-laundering article of the Liechtenstein Penal Code
Legal foundations and related implementing ordinances
Securities Act
Takeover Act
Persons and Companies Act
Financial Conglomerates Act
Law on Investment Undertakings
Law on the Disclosure of Significant Shareholdings in an Exchange-listed Company (Disclosure Act)
Law on the Execution of Transfers
Law of November 24, 2006, concerning Market Abuse with Financial Instruments (Market Abuse Act, MA)
EU tax on savings income
The EU agreement on the taxation of savings income has been in effect since July 1, 2005. Liechtenstein levies a withholding tax at the payment agent level on interest and dividend income earned by individuals whose domicile is in an EU member state. With this solution, banking client secrecy remains fully intact. The taxation rate has stood at 20 percent since July 1, 2008.
LIFT
The Liechtenstein Investment Fund Think Tank (LIFT) is an instrument for collaboration between the Liechtenstein authorities and the various finance associations. It analyzes processes at the domestic and foreign political and economic levels and submits relevant proposals.
MiFID
Liechtenstein has incorporated the EU Markets in Financial Instruments Directive (MiFID) into national law. This harmonization of legal foundations enables VP Bank to offer its securities-related services throughout the European Economic Area (EEA).
Basel II
As a member of the EEA, Liechtenstein has incorporated into national law the new provisions of the Ordinance on Equity Capital and Risk Diversification for Banks and Finance Companies.
VP Bank and Legal & Compliance
Strict compliance with binding local laws throughout the world guarantees that the VP Bank Group provides its services with the highest degree of legal conformity.
