Glossary

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FINMA (Swiss Financial Market Supervisory Authority )

As a state regulatory body, FINMA is endowed with supreme authority over banks, insurance companies, stock exchanges, securities dealers and collective investment schemes. It is responsible for combating money laundering and, where necessary, conducts financial restructuring and bankruptcy proceedings. In addition, it has supervisory powers with respect to the disclosure of holdings and is the complaints body for decisions of the Takeover Board in the area of public takeover bids for listed companies.

FINMA grants operating licences for companies and organisations subject to its supervision, monitors the supervised institutions with respect to their compliance with the requisite laws, ordinances, directives and regulations, as well as with the conditions for the granting of licences that must be complied with at all times. Where necessary and to the extent permissible by law, FINMA imposes sanctions, provides administrative assistance and regulates. In other words, it participates in the amendment of laws and corresponding ordinances, issues circulars and, where it is authorised to do so, its own ordinances. FINMA is also responsible for ensuring that selfregulation is acknowledged appropriately.
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