FINMA — Swiss Financial Market Supervisory Authority

The Swiss Financial Market Supervisory Authority (FINMA) is Switzerland's integrated financial market regulator. Established on 1 January 2009 under the Financial Market Supervision Act (FINMAG), it merged the former authorities EBK (banking), BPV (insurance), and the GwG Control Authority under one roof.

• Banking supervision: Granting and revoking bank licenses, ongoing monitoring
• Insurance supervision: Protection of policyholders, solvency review
• Markets: Exchange supervision, securities trading oversight
• Enforcement: Enforcement measures against violations
• AML supervision: Monitoring anti-money laundering compliance

Before FINMA's creation, three separate supervisory authorities existed: the Federal Banking Commission (EBK) for banks and exchanges (since 1935), the Federal Office of Private Insurance (BPV) for insurers, and the GwG Control Authority. The 2007/08 financial crisis and international pressure to strengthen financial market supervision accelerated the merger.

FINMAG was adopted on 22 June 2007 and FINMA commenced operations on 1 January 2009. Its powers were further expanded by FIDLEG and FINIG (2020), particularly regarding conduct supervision and licensing of independent asset managers.

FINMA directly or indirectly supervises all regulated financial intermediaries in Switzerland:

• Banks (including cantonal banks, Raiffeisen banks, foreign banks)
• Insurance companies and insurance groups
• Exchanges and multilateral trading facilities
• Securities dealers and investment firms
• Collective investment schemes and their managers
• Independent asset managers and trustees (since 2020)
• Financial market infrastructures (payment systems, CCPs)

• Licensing requirement prior to commencing activities as a financial intermediary
• Compliance with capital adequacy and liquidity requirements (banks)
• Annual submission of annual reports and regulatory disclosures
• Appointment of a recognized audit firm (supervisory audit)
• Compliance with GwG and FINMA circulars on AML
• Notification obligation for material changes (business model, ownership structure)

"FINMA — Swiss Financial Market Supervisory Authority" was classified under theme "Jurisdiktion". Correct is "Finanzmarkt". National laws and authorities are classified by subject matter, not as Jurisdiction. Country profiles are classified as Jurisdiction.