Regulatory Monitoring

The Swiss Financial Market Supervisory Authority FINMA has today published its guidance on quantum computing. The guidance presents the results of a survey on the opportunities and risks posed by quantum computers and discusses possible measures to mitigate the cyber risk posed by powerful quantum computers.

The Swiss Financial Market Supervisory Authority FINMA is incorporating an existing circular on liquidity risks at banks and securities firms to a new ordinance. In doing so it is fulfilling the requirement for the format compliance of regulation in accordance with Article 7 paragraph 1 of the Financial Market Supervision Act.

The Swiss Financial Market Supervisory Authority FINMA welcomes the announcement made today by the Federal Department of Finance (FDF) regarding the establishment of a working group to optimise financial market regulation in Switzerland. FINMA will support this group with its experience and expertise. 

The revised Insurance Supervision Act and Insurance Supervision Ordinance came into force on 1 January 2024, bringing about significant changes to the insurance intermediary market. Two and a half years later, FINMA took stock at a symposium in Bern attended by industry experts. It noted positive progress in client protection, but also emphasised that many people are still operating without authorisation. Around 12,000 untied insurance intermediaries are authorised by FINMA. 

The Swiss Financial Market Supervisory Authority FINMA has concluded enforcement proceedings against two institutions and one individual for serious breaches of the rules of conduct governing the provision of financial services under the FinSA. To restore compliance with the law and protect investors, FINMA ordered various measures. It withdrew Swiss Fund Management AG in liquidation’s licence to manage funds. An application by BZ Berater Zentrum AG for authorisation as an independent portfolio manager was rejected. In addition, FINMA is confiscating millions in illegally generated profits and imposing a multi-year industry ban on one of the individuals responsible. 

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat den Anhang der Verordnung vom 10. April 2024 über Massnahmen gegenüber Personen und Organisationen, welche die Hamas oder den Palästinensischen Islamischen Dschihad unterstützen (SR 946.231.09), geändert.

The Swiss Financial Market Supervisory Authority FINMA has once again reviewed numerous money laundering risk analyses and is supplementing Guidance 05/2023 with further observations and insights for both banks and FinIA institutions. In doing so, it recognised the progress made, but also identified further room for improvement. 

In its new Guidance, the Swiss Financial Market Supervisory Authority FINMA explains the risk patterns it is increasingly observing in relation to the use of products in individual portfolio management in the context of escalation cases. The Guidance recalls the rules that institutions must follow when products are used in individual portfolio management.

The Swiss Financial Market Supervisory Authority FINMA has concluded enforcement proceedings against Wendelspiess Partners AG in liquidation and two individuals for serious breaches of the rules of conduct governing the provision of financial services. It has imposed long-term industry bans on two responsible individuals.  

Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs 1 der Verordnung vom 17. Oktober 2018 über Massnahmen gegenüber Myanmar (SR 946.231.157.5) publiziert.