Reporting requirements and recommended notifications

Legal reporting requirements allow FINMA to clarify and verify specific facts and intervene with restrictions, conditions or bans as necessary.

Banks and securities dealers are required to report certain changes in connection with their licences. The most important of these concern the following:

  • Foreign activities: before starting operations abroad and when foreign operations undergo significant changes and / or are closed down.
  • Qualified participations: Anyone buying or selling a qualified participation in a licensed institution must report this fact to FINMA. The banks and securities dealers concerned must also file a report, as well as branches of foreign banks and securities dealers. Changes concerning qualified participations in foreign-controlled institutions require authorisation.
  • Changes to ultimate strategic and executive management: There is no legal requirement to report internal changes of this kind, but FINMA expects to be informed about them before they are announced publicly. This can prevent the need to remove members of ultimate management who fail to meet proper business conduct requirements, which could tarnish an institution’s image.