Dec 3, Chapter 7: Cooperation between FINMA, the Takeover Board and Stock Praxis zu Art. 37 FinfraV-FINMA (vormals Art. 35 BEHV-FINMA). Dec 3, Praxis zu Art. 31 FinfraV-FINMA (vormals Art. 29 BEHV-FINMA). Vgl. die Praxis und Kommentierung zu Art. Abs. 1 FinfraG. Under a dualistic supervisory system the FINMA commissions auditing companies to carry out (); and the Swiss Financial Market Supervisory Authority (). 12th February · Änderung der BEHV-FINMA (PDF).
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The most important legal precepts governing the SFBC’s activities and its implementing provisions are found in federal legislation.
More information on regulation can be found on the websites of the Basel Committee on Banking Supervision www.
Branches of foreign securities dealers
Subscribe to all the Swiss Banking information you’re interested in. A foreign securities dealer needs to be authorised by FINMA if it employs staff in Switzerland who, on a professional basis, permanently trade securities or behg client accounts on its behalf in or from Switzerland that give finmz to legal obligations.
In this sense, when setting regulatory goals priority is given to the protecting of creditors on the one hand and the improvement of the system stability on the other. One of our priorities is to make sure that banking regulation in Switzerland is structured in a good, credible and internationally-competitive manner. Duration of the licensing process The licensing process for a representative office of a foreign securities dealer normally takes finja three months, but the duration depends on the quality and complexity of the application.
The Authorisation section of the Banks division authorization finma.
Banks and securities dealers Getting licensed Representative offices of foreign fibma dealers. The most important are:. Home Topics Regulation and compliance Regulation. The Authorisation section of the Banks division authorization finma. Contact for questions on the licensing process The Authorisation section of the Banks division authorization finma.
Our experts follow global and national regulatory developments very closely and take part in the consultation process whenever possible. In the day-to-day work of the Swiss Bankers Association the area of banking regulation is an important area of focus. The branch must have regulations precisely describing its business and an organisation that is compatible with its operations. For a foreign securities dealer to obtain a licence to open a branch, there must be no doubt that the applicant meets or can meet all of the licensing requirements.
SFBC – Regulation
Banking regulation above all serves to protect bank clients and the safety of the financial system or, in today’s parlance, its stability. The most important are: The time it takes to receive a response from the responsible foreign supervisory authorities must also be taken into account. Branches of foreign securities dealers must meet a number of licensing requirement to obtain authorisation from FINMA. Fina of a recognised regulatory audit firm for ongoing supervision.
Those in charge of the fnma office must assure proper business conduct.
SESTO-FINMA – Translation into German – examples English | Reverso Context
Banking tinma financial finmaa regulation can be expressed in various legal forms. Contact for questions on the licensing process The Authorisation section of the Banks division authorization finma. Regulatory intervention can take the form of “preventive” regulation such as putting limits on risk e. Representative offices behc foreign securities dealers must meet a number of licensing requirements to obtain authorisation from FINMA. In Switzerland the main organ responsible for the regulation of banks and financial markets is the FINMA which functions as an independent federal regulatory authority.
Representative offices of foreign securities dealers are not subject to prudential supervision. Financial market regulation reform projects in Switzerland FinWeb. Sincevarious aspects of banking regulation have been subjected to critical examination within the context of the financial and economic crisis.
Unofficial English translations of some of these documents are fjnma on private websites:. A foreign securities dealer needs to be authorised by FINMA if it employs staff in Switzerland who, on a professional basis, permanently represent it for advertising or other purposes in or from Switzerland, including in particular forwarding client orders to it, but do not trade securities or manage client accounts for the foreign securities dealer that give rise to legal obligations.
Chapter 5: Disclosure of Shareholdings
Licensing requirements For a foreign securities dealer to obtain a licence to open a representative office, there must be no doubt that the applicant and the representative office meet or can meet all of the licensing requirements. Under a dualistic supervisory system the FINMA commissions auditing companies to carry out the actual inspection and auditing of the banks.
Here you will also find reports and proposed rules and regulations which the SFBC publishes for consultation. Subscribe to new content Subscribe to all the Swiss Banking information you’re interested in.
Branches of foreign securities dealers. The most important are:.