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The Conciliation Board

What is the purpose of the Conciliation Board?

The extrajudicial Conciliation Board is a mediator for conflicts between clients and banks, investment and asset management companies and payment service providers. It is a neutral and cost-free service that deals with concrete complaints of clients.

An essential precondition for a functioning and recognised Conciliation Board lies in its independence from any possibly involved institutes. By affiliating the Conciliation Board to the foundation ICQM, account has been taken of this basic requirement.

The Conciliation Board supersedes the instituion of the Bank Ombudsmann. Its field of action comprehends a broader specturm of institutes. Apart from banks, it is also responsible for investment firms, asset management companies and payment service providers.

For the term starting on November 1st 2009 until December 31st 2013 the government has chosen Dr. Peter Wolff, Lawyer in Vaduz, as the conciliation person. Dr. Wolff already used to be Bank Ombudsman from April 2005.