Changes to the persons responsible for administration and management (changes in ultimate management) must be authorised by FINMA before operations can be resumed.
If a Swiss bank is to be transferred to foreign control, it needs an additional licence. The same applies to Swiss-controlled securities firms and changes to qualified participations in foreign-controlled institutions.
Banks and account-holding securities firms that use individual risk models to calculate capital adequacy requirements must have these authorised by FINMA.
Systemically important banks require FINMA’s authorisation to include certain capital instruments in their capital adequacy calculations.