Name: Swiss Financial Market Supervision Authority
Abbreviation: Switzerland (FINMA)
Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority (FINMA), which is an independent supervisory agency with legal personality, executes the Financial Market Supervisory Act; is responsible for the legislation of the financial market. In accordance with Art. 5 of the FIMASA Act, FINMA is responsible for overseeing banks, insurance companies, exchanges, securities dealers, collective investment schemes and their asset management companies and fund management companies. In addition, FINMA also supervises distributors and insurance intermediaries. FINMA’s responsibility is to protect the rights and interests of creditors, investors and policyholders, while ensuring the effective operation of Swiss financial markets.
Supervised company SwissQuote Swissquote Bank
The Swiss Financial Market Authority is the Swiss government agency responsible for financial supervision. Its functions include: overseeing Swiss banks, insurance companies, stock exchanges, securities dealers, and various other financial intermediaries (including foreign exchange dealers)
Introduction to Regulators
Swiss Financial Markets Supervisory Authority, referred to as FINMA. He is an independent institution with an independent legal person and its headquarter is located in Bern, the capital of Switzerland. It directly serves the Swiss Parliament and is institutionally, functionally and financially independent of the Swiss Federal Central Government and the Federal Ministry of Finance.
Switzerland has a long history of monitoring the banking and financial industries. Before the merger into FINMA, the Swiss Federal Banking Commission existed in 1934 or even earlier. Switzerland has two of the world’s top banks: UBS (UBS) and Credit Suisse (Credit Suisse). Therefore, FINMA, which is responsible for banking supervision, occupies an important position in the Swiss economy. FINMA has a special supervisory department to supervise these two financial institutions.
How to complain
Swiss Financial Market Supervisory Authority FINMA Einsteinstrasse 2 CH – 3003 Bern Access map; Phone: +41 (0)31 327 91 00; Fax: +41 (0)31 327 91 01; E-mail: firstname.lastname@example.org; Office hours Monday to Friday: 8 am to 6 pm
How to check
How to regulate
Swiss foreign exchange dealers must obtain banking qualifications. The Swiss supervisory authority has laid down rules for this. The minimum net capital of Swiss dealers must not be less than 9 million US dollars. Among the existing Swiss dealers, only a dozen companies meet the requirements. Other under-strength Swiss dealers either meet the standards through mergers; or they leave Switzerland and go to Cyprus or the Virgin Island to register and continue their gold panning career; or they return client funds, close their doors, and exit. The stage of the Swiss foreign exchange retail industry.