FINMA
FINMA stands for the Swiss Financial Market Supervisory Authority (Finanzmarktaufsicht or Autorité fédérale de surveillance des marchés financiers).
It is the regulatory body responsible for overseeing Switzerland's financial markets, including banks, insurance companies, securities dealers, and other financial intermediaries. Established in 2007, FINMA operates independently of the Swiss government and is accountable to the Swiss Parliament.
FINMA's primary objectives are to ensure the stability of Switzerland's financial system, protect investors, and maintain the integrity of the country's financial markets. It achieves these goals through a combination of regulation, supervision, and enforcement activities. FINMA sets regulatory standards, issues licenses to financial institutions, monitors compliance with financial laws and regulations, investigates misconduct, and imposes sanctions when necessary.
As Switzerland is a global financial hub, FINMA plays a crucial role in safeguarding the reputation and stability of the Swiss financial sector. It collaborates closely with other regulatory authorities both domestically and internationally to address cross-border financial issues and maintain effective supervision. FINMA's efforts contribute to promoting confidence in Switzerland's financial markets and ensuring their smooth operation within the framework of applicable laws and regulations.
Furthermore, FINMA supports and implements the recommendations published by FATF.