Eternity Law International — News — Regulatory organization FINMA in Switzerland

Regulatory organization FINMA in Switzerland

Published:
May 17, 2021

The Swiss Financial Markets Supervision Authority (FINMA) is a government agency, a Swiss regulator, which is one of the most reliable in the world, since the requirements of the regulator are very strict. Its activities are focused on financial regulation, namely: protection against the creation of corruption schemes for money laundering, supervision of banks, insurance companies, stock exchanges and securities dealers, control over the amount of capital, in various credit institutions, and, if necessary, conducts financial restructuring and bankruptcy procedures.

FINMA is a government agency that reports directly to the Swiss parliament. It is based in Bern and is independent of the central federal administration and the Federal Department of Finance. The regulator has at its disposal various levers of influence on brokers, and therefore any company licensed by FINMA operates under transparent schemes that imply full protection of the interests of investors.

History of creation

FINMA was founded on June 22, 2007 with the adoption of the Federal Law on the Swiss Financial Market Supervisory Authority (FINMASA) as a result of the merger of the following organizations:

  • Swiss Federal Banking Commission (SFBC);
  • Federal Office of Private Insurance (FOPI);
  • Anti-Money Laundering Control Authority (AMLCA).

Responsibilities and functions:

  • Development of legislation in the financial sector;
  • Issuance of a license to companies and organizations under its supervision, certification of financial market participants;
  • Monitoring compliance with standards, laws, regulations, directives;
  • Issuance of warnings, revocation of licenses and liquidation of companies;
  • Anti-corruption schemes and money laundering;
  • Control over Swiss financial markets for compliance with AML / CFT requirements.
  • Protection of investors and creditors;

FINMA requirements for licensees:

  • Opening a real office in Switzerland, which will automatically oblige the company to follow the laws of the country;
  • Provision of a document that will identify potential risks when investing, conducting transactions, obtaining financial services (to inform clients);
  • Compliance with the requirements for the level of minimum capital, compliance with liquidity standards. The ratios are individual depending on the volume of transactions and the balance on bank accounts;
  • Disclosure of information about the founders, placement of information in open sources of information.

Conclusions

FINMA’s main mission is to maintain the stability of the Swiss banking sector and increase investor confidence in the Swiss financial markets. And having a FINMA license can serve as a high guarantee that you have a reliable brokerage company that you can entrust your money to. Thanks to its high reputation, FINMA is on a par with such reliable regulators as FCA and NFA.

You could be interested

Crypto bank structure and its significance for crypto currency industry

Crypto banks are platforms that position themselves as crypto currency banks. They enable users to save digital assets and open deposit accounts, as well as issue loans in digital currency and allow users to pay for purchases with crypto currency cards. If you want to become the owner of such a structure and start making...

Estonian cryptocurrency exchange license

Estonia is a leader in the tech field, with a forward-thinking approach to innovations and regulation. This is particularly evident in the digital assets field, where Estonia has created a legal foundation that provides clarity and stability for legal entities operating in the sector. Getting Estonia license crypto is straightforward and the benefits are numerous....

Canadian MSB licensed companies setup

Our group of experts can help you with setting up a money service business in Canada. It includes a procedure of legal application, regulatory interaction, the creation of required paperwork, and constructing the payment system, we recommend contacting our specialists to deal with it. Why Canada? This state encourages trade, and there are several fintech...

Commercial lawyer

The business process of an enterprise is often associated with disagreements between counterparties, which results in litigation. Most often, such disputes connected with the economic, tax disputes and violations of obligations of the parties under agreements. Eternity Law International attorneys will help you to resolve disputes out of court or achieve an objective result in...

Investment fund in SVG

Saint Vincent and the Grenadines (SVG), a picturesque Caribbean nation, is not only known for its stunning landscapes and vibrant culture but is also gaining recognition as an emerging destination for acquisition. One avenue that has been gaining traction in SVG’s monetary landscape is the establishment and growth of acquisition funds. In this article, we...

Ready-made company in Belize

Embarking upon a business venture constitutes a weighty undertaking characterized by multifaceted and meticulous strategic orchestrations. However, for those on a quest for an expeditious and streamlined trajectory towards business ownership, Belize proffers an enthralling recourse through the bestowal of ready-made companies. This exhaustive exposé delves profoundly into the merits inherent in procuring a shelf...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360