FINMA : Annual Report 2021

FINMA’s mandate and core values FINMA is an independent supervisory authority with the legal mandate to protect clients and ensure the proper functioning of the financial markets.

FINMA thus contributes to enhancing the reputation, competitiveness and future sustainability of the Swiss financial centre.

FINMA supervises banks, securities firms, insurance companies, financial market infrastructures, collective investment scheme products and institutions, entities under the Financial Services Act and the Financial Institutions Act, in addition to insurance intermediaries. It carries out its activity independently and in a consistent manner. Its staff are responsible, have high standards of integrity and are able to deliver results. In its role as supervisor, FINMA adopts a risk-oriented approach. Its activities cover the following areas: Licensing FINMA is responsible for licensing companies operating in the sectors it supervises. Supervision FINMA monitors permanent compliance with statutory regulations and licensing requirements. It is also responsible for combating money laundering. In addition, together with the trading venues, it supervises compliance with market conduct rules as well as the disclosure of shareholdings at listed companies. Enforcement To enforce supervisory law FINMA conducts proceedings, issues rulings, implements sanctions and is the body to which appeals against decisions of the Swiss Takeover Board may be brought. Where wrongdoing is suspected, it files criminal complaints with the competent criminal authorities. Resolution FINMA is responsible for the restructuring proceedings and bankruptcies of companies subject to financial market laws. Regulation Where it is authorised to do so and when necessary to meet its supervisory objectives, FINMA issues its own ordinances. It also publishes circulars detailing the interpretation and application of financial market law. International activities FINMA fulfils the cross-border tasks that are related to its supervisory activity. It represents Switzerland in international fora and cooperates with foreign regulators.