FINMA mandataries

FINMA can appoint the following types of mandatary:

• Investigating agents are appointed to clarify circumstances relevant to enforcement proceedings or to implement supervisory measures ordered by FINMA.

• Mandated auditors are appointed to assist in ongoing supervision by conducting audits at supervised institutions.

• Restructuring agents may be charged with drawing up a restructuring plan.

• Liquidators are charged with liquidating supervised institutions.

• Bankruptcy liquidators are responsible for performing bankruptcy liquidation at supervised institutions.

• Valuation experts are tasked to estimate the value of investments in real estate funds or in real estate investment companies.

FINMA assigns the following four standard mandates, each of which have a different requirement profile:

1. investigations or audits conducted at authorised financial intermediaries;

2. investigations into activities conducted at unauthorised institutions;

3. bankruptcy proceedings and liquidation proceedings at supervised institutions;

4. restructuring and crisis management at authorised financial intermediaries.

FINMA keeps a list of mandataries to whom it can assign standard mandates.

For additional information, see FINMA fact sheet “FINMA mandataries: a key tool of supervision and enforcement”.