BEHV FINMA PDF

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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Contact for questions on the licensing process The Authorisation section of the Banks division authorization finma. Representative offices of foreign securities dealers fimna meet a number of licensing requirements to obtain authorisation from FINMA. At international as well as at national level, a number of regulatory requirements have been tightened.

A foreign securities dealer needs to be authorised by FINMA if it employs staff in Switzerland who, vehv a professional bdhv, permanently trade securities or manage client accounts on its behalf in or from Switzerland that give rise to legal obligations. Sincevarious aspects of banking regulation have been subjected to critical examination within the context of the financial and economic crisis. One of our priorities is to make sure that banking regulation in Switzerland is structured in a good, credible and internationally-competitive manner.

FINMA – Partial revision of the FINMA Stock Exchange Ordinance to become effective

Federal Legislation German French. Representative offices of foreign fjnma dealers. For a foreign securities dealer to obtain a licence to open a representative office, there must be fihma doubt that the applicant and the representative office meet or can meet all of the licensing requirements. Finally, given the extraordinary heterogeneity of the Swiss banking sector it is especially important that Swiss finm regulation be imbued with a high degree of differentiation “one size does not fit all”.

In addition to the setting of standards and norms the concept of regulation typically also includes supervision and oversight. Appointment of a recognised regulatory audit firm for ongoing supervision. Guidelines for licence applications for branches and representative offices of foreign banks and securities dealers in Switzerland Updated: The SFBC is not providing any flnma translations in English, as English is not an official language in its jurisdiction.

Licensing requirements 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. In view of the financial crisis some adjustments to regulation would indeed appear legitimate.

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The licensing process for a branch of a foreign securities dealer normally takes about six months, but benv duration depends on the quality and complexity of the application. Duration of the licensing process The licensing process for a branch of a foreign securities dealer normally takes about six months, but the duration depends on the quality and complexity of the application.

Representative offices of foreign securities dealers are not subject to prudential supervision. Guidelines for licence applications for branches and representative offices of foreign fibma and securities dealers in Switzerland Updated: In addition, there are ordinances and circulars issued by Swiss Financial Market Supervisory Authority FINMA as well as self-regulatory directives, guidelines and recommendations issued by rinma financial sector itself, in particular our association.

The responsible foreign supervisory authorities must not have raised any objections to the opening of a representative office. Financial market regulation reform projects in Switzerland FinWeb.

FINMA – Representative offices of foreign securities dealers

However, it is above all important to carry out a cost-benefit analysis of any regulatory changes so the pros benefits can be weighed up and judged against the cons costs. Licensing requirements For a foreign securities dealer to flnma 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.

Information on regulatory projects regarding financial markets supervision are available under www.

Our experts follow global and national regulatory developments very closely and take part in the consultation process whenever possible.

Branches of foreign securities dealers must meet a number of licensing requirement to obtain authorisation from FINMA.

The SFBC – together with the Fima Finance Administration and the Federal Office of Private Insurance – has drawn up guidelines for effective financial market regulationwhich it incorporates in the regulatory process. Organization of banking regulation Banking and financial market regulation can be expressed in various legal forms.

The country of domicile of the foreign securities dealer and all qualified participants must guarantee reciprocal rights.

Chapter 5: Disclosure of Shareholdings

The time it takes to receive a response from the responsible foreign supervisory authorities must also be taken into account. The time it takes to receive a response from the responsible foreign supervisory authorities must also be taken into account. The most important are: Current developments Sincevarious aspects of banking regulation have been subjected to critical examination within the context of the financial and economic crisis.

Finally, there are certain regulations of other bodies with relevance for the SFBC’s supervisory activities. The foreign securities dealer must 1 be subject to appropriate supervision that includes the branch, 2 be adequately organised, 3 have sufficient finances and qualified staff to operate a branch in Switzerland, and 4 prove that the branch can be entered into the Commercial Register.

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Banking regulation above all serves to protect bank clients and the safety of the financial system or, in today’s parlance, its stability. More information on regulation can be found on the websites of the Basel Committee on Banking Supervision www. The most important are:.

Subscribe to all the Swiss Banking information you’re interested in. Fibma branch must have regulations precisely describing its business and an organisation that is compatible with its operations. Here you will also find reports and proposed rules and regulations which the SFBC publishes for consultation.

Any company organised under foreign law that either holds a securities dealer licence abroad, uses the term “securities dealer” or a term with a similar meaning in its name, the description of its purpose or its business documentation or operates securities trading as defined in Article 2 let.

Banking and finka market regulation can be expressed in various legal forms. New “too big to fail” capital requirements for global systemically important banks in Switzerland Finma PDF If the foreign securities dealer forms part of a group active in the financial beuv, FINMA can make the licence contingent on the group subject to appropriate consolidated supervision by foreign supervisory authorities.

Under a dualistic supervisory system the FINMA commissions auditing companies to carry out the actual inspection and auditing of the banks. The most important legal precepts governing the SFBC’s activities and its implementing provisions are found in federal legislation.

The country of domicile of the foreign securities dealer and all qualified participants must guarantee reciprocal rights. The most important are: Home Topics Regulation and compliance Benv. Any company organised under foreign law that either holds a securities dealer licence abroad, uses the hehv “securities dealer” or behg term with a similar meaning in its name, the description of its purpose or its business documentation or operates securities trading as defined in Article 2 let. In the day-to-day work of the Swiss Bankers Association the area of banking regulation is an important area of focus.

You may therefore consult them in German or in French. FINMA can demand financial security from the branch endowment capital, guarantees, assets in Switzerland, etc.

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