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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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In this process any revision of individual regulatory instruments behf not be done in isolation; the effects of any regulatory change must be considered holistically; interdependencies and interactions must also be factored into the equation. One of our priorities is to make sure that banking regulation in Switzerland is structured in a good, credible and internationally-competitive manner.

Representative offices of foreign securities dealers

Role of the Swiss Bankers Association In the day-to-day work of the Swiss Bankers Association the area of banking regulation is an important area of focus. In addition, there are ordinances and circulars issued by Swiss Financial Market Supervisory Authority FINMA as well as self-regulatory directives, guidelines and recommendations issued by the financial sector itself, in particular our association.

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 SFBC itself also publishes circulars and newsletters. Subscribe to all the Swiss Banking information you’re interested in.

Banks and securities dealers Getting licensed Representative offices of foreign securities dealers. Guidelines for licence applications for branches and representative offices of foreign banks and securities dealers in Switzerland Updated: 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.

The most important are:.

In Switzerland the main organ responsible for the regulation of banks and financial markets is the FINMA which functions as an independent federal regulatory authority. The most important are: 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.

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Purpose of banking regulation Banking regulation above all serves to protect bank clients and the safety of the financial system or, in today’s parlance, its stability. 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. In the day-to-day work of the Swiss Bankers Association the area of banking regulation is an important area of focus.

Contact for questions on the licensing process The Authorisation section of the Banks division authorization finma. Banks and securities dealers Getting licensed Branches of foreign securities dealers. Sincevarious aspects of banking regulation have been subjected to critical examination within the context of the financial and economic crisis. In this sense, when setting regulatory goals priority is given to the protecting of creditors on the one hand and the improvement of the system stability on the other.

The SFBC – together with the Federal Finance Administration and the Federal Office of Private Insurance – has drawn up guidelines for effective financial market regulationwhich it incorporates in the regulatory process. The most important legal precepts governing the SFBC’s activities and its implementing provisions are found in federal legislation.

The Authorisation section of the Banks division authorization finma. Appointment of a recognised regulatory audit firm for ongoing supervision. Information on regulatory projects regarding financial markets supervision are available under www.

Appointment of a recognised audit firm for the licensing process. Federal Legislation German French. The SFBC is not providing any official translations in English, as English is not an official language in its jurisdiction. Subscribe to new bhv Subscribe to all the Swiss Banking information you’re interested in. 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.

Regulation — Swiss Bankers Association

You may therefore consult them in German or in French. 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 behc of the licensing requirements.

Under a dualistic supervisory system the FINMA commissions auditing companies to carry out the actual inspection and auditing of the banks. Finally, there are certain regulations of other bodies with relevance for the SFBC’s supervisory activities. Banking regulation above all serves to protect bank clients and the safety of the financial system or, in today’s parlance, its stability.

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The country of domicile of the foreign securities dealer and all qualified participants must guarantee reciprocal rights. The time it takes to receive a response from the responsible foreign supervisory authorities must also be taken into account.

Branches of foreign securities dealers

Representative offices of foreign securities dealers must meet a number of licensing requirements to obtain authorisation from FINMA. The time it takes to receive a response from the responsible foreign supervisory authorities must also be taken into account. Furthermore, in many areas of regulation — for example with regard to capital requirements and remuneration systems — Switzerland already exceeds established international standards and this phenomenon must also be taken into account.

A foreign securities dealer needs to be authorised by FINMA if it employs staff in Switzerland who, on a professional basis, permanently represent it for advertising or other purposes in or from Switzerland, including in particular forwarding client orders to it, but do not trade securities or manage client accounts for the foreign securities dealer that give rise to legal obligations.

In addition to the setting of standards and norms the concept of regulation typically also includes supervision and oversight. More information on regulation can be found on the websites of the Basel Committee on Banking Supervision www. Representative offices of foreign securities dealers are not subject to prudential supervision. The foreign securities dealer must be subject to appropriate supervision.

At international as well as at national level, a number of regulatory requirements have been tightened. Licensing requirements 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.