Financial Market Supervisory Authority – Switzerland

FINMA serves as the independent regulatory body for the Swiss financial market. Established to ensure that Switzerland’s financial markets function effectively, it is responsible for supervising banks, insurance companies, securities dealers, and other financial intermediaries.

Key Functions and Responsibilities

• Regulatory Supervision: FINMA is charged with overseeing the compliance of financial institutions with Swiss financial laws, aiming to protect investors, creditors, and policyholders while ensuring the stability of the financial system.
• Market Integrity: The authority ensures that the Swiss financial markets operate in a transparent, efficient, and fair manner. This includes the enforcement of standards and regulations to prevent financial crimes and ensure proper conduct within the financial sector.
• Consumer Protection: One of FINMA’s primary roles is to safeguard the interests of consumers by ensuring that financial institutions operate under strict guidelines and are transparent in their dealings with customers.

Strategic Initiatives and Organizational Structure

FINMA operates independently of the Swiss government but is subject to oversight by the Swiss parliament. It is financially independent, funded by fees and levies from the institutions it supervises. The organization is structured to ensure a clear separation of strategic management, handled by the Board of Directors, and operational management, conducted by the Executive Board.

Recent Developments

FINMA plays a pivotal role in significant financial market events, including approving major mergers such as the recent takeover of Credit Suisse by UBS. This move was part of broader measures to stabilize the financial market during a period of turmoil.