BEHV FINMA PDF

Dec 3, Chapter 7: Cooperation between FINMA, the Takeover Board and Stock Praxis zu Art. 37 FinfraV-FINMA (vormals Art. 35 BEHV-FINMA). Dec 3, Praxis zu Art. 31 FinfraV-FINMA (vormals Art. 29 BEHV-FINMA). Vgl. die Praxis und Kommentierung zu Art. Abs. 1 FinfraG. Under a dualistic supervisory system the FINMA commissions auditing companies to carry out (); and the Swiss Financial Market Supervisory Authority (). 12th February · Änderung der BEHV-FINMA (PDF).

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Guidelines for licence applications for branches and representative offices of foreign banks and securities dealers in Switzerland Updated: Under a dualistic supervisory system the FINMA commissions auditing companies to carry out the actual inspection and auditing of the banks. Our experts follow global and national regulatory developments very closely and take part in the consultation process whenever possible.

Licensing requirements For a foreign securities dealer to obtain a licence to open a representative beuv, there must be no doubt that the applicant and the representative office meet or can meet all of the licensing requirements.

The SFBC is not providing any official translations in English, as English is not an official language in its jurisdiction. The Authorisation section of the Banks division authorization finma.

For a foreign securities dealer to obtain a licence to open a branch, there must be no doubt that the applicant meets or can meet all of the licensing requirements. The time it takes to receive a response from the responsible foreign supervisory authorities must also be taken into account. Duration of the licensing process The licensing process for a branch of a foreign securities dealer normally takes about six months, but the duration depends on the quality and complexity of the application.

FINMA – Representative offices of foreign securities dealers

Finally, given the extraordinary heterogeneity of the Swiss banking sector it is especially important that Swiss banking regulation be imbued with a high degree ffinma differentiation “one size does not fit all”. Those in charge of the representative office must assure proper business conduct. A foreign securities dealer needs to be authorised by FINMA if it employs staff in Switzerland who, on a professional basis, permanently trade securities or manage client accounts on its behalf in or from Switzerland that give rise to legal obligations.

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More information on regulation can be found on the websites of the Basel Committee on Banking Supervision www. The most important are: In this process any revision of individual regulatory instruments should not be done in isolation; the effects of any regulatory change fnma be considered holistically; interdependencies and interactions must also be factored into the equation.

Contact for questions on the licensing process The Authorisation section of the Banks division authorization finma.

Translation of “SESTO-FINMA” in German

Representative offices of foreign securities dealers are not subject to prudential supervision. Sincevarious aspects of banking regulation have been subjected to critical examination within the context of the financial and economic crisis. Organization of banking regulation Banking and financial market regulation can be expressed in various legal forms.

FINMA can demand financial security from the branch endowment capital, guarantees, assets in Switzerland, etc.

Chapter 5: Disclosure of Shareholdings

Licensing requirements For a foreign securities dealer to obtain a licence to open a branch, there must be no doubt that the applicant meets or can meet all of the licensing requirements. The country of domicile of the foreign securities dealer and all qualified participants must guarantee reciprocal rights. Appointment of a recognised regulatory audit firm for ongoing supervision. The licensing process for a branch of a foreign securities dealer normally takes about six months, but the duration depends on the quality and complexity of the tinma.

In view of the financial crisis some adjustments to regulation would indeed appear legitimate. The licensing process for a representative office of a foreign securities dealer normally takes about three months, but the duration depends bhv the quality and complexity of the application.

You may therefore consult them in German or in French. Federal Legislation German French. The most important legal precepts governing the SFBC’s activities and its implementing provisions are found in federal legislation.

Role of the Swiss Bankers Association In the bev work of the Swiss Bankers Association the area of banking regulation is an important area of focus. Here you will also find reports and proposed rules and regulations which the SFBC publishes for consultation. Regulatory intervention can take the form of “preventive” regulation such as putting limits on risk e.

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If the foreign securities dealer forms part of a group active in the financial sector, FINMA behvv make the licence contingent on the group subject to appropriate consolidated supervision by foreign supervisory authorities. Subscribe to new content Subscribe to all the Swiss Banking information you’re interested in.

Subscribe to all finmaa Swiss Banking information you’re interested in. Unofficial English translations of some of these documents are available on private websites:. Contact for questions on the licensing process The Authorisation section of the Banks division authorization finma.

Duration of the licensing process The licensing process for a representative office of a foreign securities dealer normally takes about three months, but the duration depends on the quality and complexity of the application. One of finmq priorities is to make sure ebhv banking regulation in Switzerland is structured in a good, credible and internationally-competitive manner.

For a foreign securities dealer to obtain a licence to open a representative office, there must be no doubt that the applicant and the representative office meet or can meet all of the licensing requirements. The country of domicile of the foreign securities dealer and all qualified participants must guarantee reciprocal gehv.

The foreign securities dealer flnma 1 be subject to appropriate supervision that includes the branch, 2 be adequately organised, 3 have sufficient finances and qualified staff to operate a branch in Switzerland, and 4 prove that the branch can be entered into the Commercial Register. The responsible nehv supervisory authorities must not have raised any objections to the opening of a representative office.

In Switzerland, the fundamental principles are codified in federal legislation e.