Finma (the Swiss Financial Market Supervisory Authority) is an independent government body responsible for regulating the financial markets in Switzerland. It was established by the Federal Council of Switzerland in 2007 and has since become a leading authority on matters related to banking, insurance, securities, derivatives trading, and asset management. Finma’s mission is to promote fair and transparent financial markets while protecting the interests of investors by enforcing applicable regulations.
In order to fulfill its mandate, Finma carries out various activities such as setting regulatory standards for banks and other financial institutions; supervising market participants; carrying out enforcement actions against those who violate applicable laws or regulations; monitoring developments within the industry; and providing educational resources to raise public awareness about finance-related topics.
The agency is also tasked with issuing licenses for companies wishing to operate in certain sectors of finance. In addition, it regularly reviews existing legislation relating to banking regulation and may propose changes when necessary.
Finma works closely with both domestic authorities such as the Swiss National Bank (SNB) as well as international organizations like IOSCO (the International Organization of Securities Commissions). This allows Finma not only ensure compliance at home but also collaborate internationally on initiatives aimed at improving global standards for investor protection across different jurisdictions.
Finally, Finma provides important support services that help companies navigate through complicated rules concerning their operations in Switzerland such as tax advice, licensing requirements or information regarding ongoing investigations into improper practices conducted by regulated entities within its jurisdiction
