Article 42
c FINMASA enables supervised institutions to transmit non-public information to foreign authorities and entities without having to obtain official authorisation. In line with its supervisory practice, FINMA has defined its interpretation of Article 42
c FINMASA in Circular 17/6 to assist supervised institutions in implementing the legal provision uniformly and autonomously.
In accordance with Margin no. 20 of the Circular, FINMA has published a list of the foreign authorities who generally meet the principles of specialty and confidentiality.
The list contains foreign supervisory authorities:
- whose compliance with the principles of specialty and confidentiality has been confirmed by a court in individual cases;
- to whom FINMA transmitted information in the course of providing international administrative assistance; and/or
- whom FINMA invites in its role as home regulator to participate at supervisory colleges in the insurance sector or core colleges in the banking sector.