Similar to the Swiss Federal Banking Commission (SFBC), one of FINMA's predecessors, the Swiss Financial Market Supervisory Authority intends issuing a bulletin that outlines important decisions made by FINMA, the Federal Supreme Court, and the Federal Administrative Court. The first FINMA bulletin pays particular attention to cross-border business and takes a look at the legal and reputational risks involved.
The new
FINMA bulletin will take over where the last issue (51/2008) of the bulletins published by the Swiss Federal Banking Commission (SFBC) left off. For years, these bulletins served to bring the practice of the supervisory authority closer to its wide readership of specialists. The first FINMA bulletin will focus on cross-border business and the legal and reputational risks involved for the financial institutions. In addition, it looks at the prerequisites for adequate business organisation and the benchmark for corporate governance (safety and soundness of business). The bulletin also refers to the latest decisions made on illegally active financial intermediaries, for the first time also within the insurance sector. Moreover, the bulletin includes two decisions made on legal aspects which are formal in nature.
Fresh from the press, FINMA bulletin 1/2010 can be ordered by email (subject: bulletin) at
info@finma.ch.
