BEHV FINMA PDF

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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Under a dualistic supervisory system the FINMA commissions auditing companies to carry out the actual inspection and auditing of the banks. Financial market regulation reform projects in Switzerland FinWeb.

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. More information on regulation can be found on the websites of the Basel Committee on Banking Supervision www. At international as well as at national level, a number of regulatory requirements have been tightened.

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. Regulatory intervention can take the form of “preventive” regulation such as putting limits on risk e.

The licensing process for a representative office of a foreign securities finam normally takes about three months, but the duration depends on the quality and complexity of the application. Appointment of a recognised audit firm for the licensing process. One of our priorities is to make sure that banking regulation in Switzerland is structured in a good, credible and internationally-competitive manner.

The time it takes to receive a response from the responsible foreign supervisory authorities must also be taken into account. Any company organised under foreign law that either holds a securities dealer licence abroad, uses the term “securities dealer” or a term with a similar meaning in its name, the description of its purpose or its business documentation or operates securities trading as fjnma in Article 2 let.

The most important are: Here you will also find reports and proposed rules and regulations which the SFBC publishes for consultation. Information on regulatory projects regarding financial markets supervision are available under www. The country of domicile of the foreign securities dealer and all qualified participants must guarantee reciprocal rights.

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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. The SFBC is not providing any official translations in English, as English is not an official language in its jurisdiction. Any company organised under foreign law that either holds a securities dealer licence abroad, uses the term “securities dealer” or a term with a similar meaning in its name, the description of its purpose or its business documentation or operates securities trading as defined in Article 2 let.

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.

Banking regulation above all serves to protect bank clients and the safety of the financial system or, in today’s parlance, its stability. Finally, given the extraordinary finna of the Swiss banking sector it is especially important that Swiss banking regulation be imbued with a high degree of differentiation “one size does not fit all”. A foreign securities dealer needs to be authorised by FINMA if it employs staff finmaa Switzerland who, on a professional basis, permanently represent begv for advertising or behg 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 beehv that give rise to legal obligations.

Role of the Swiss Bankers Association In the day-to-day work of the Swiss Bankers Association the area of ffinma regulation is an important area finka focus. Furthermore, in many areas of regulation — for example with regard to capital requirements and remuneration systems — Switzerland finmz exceeds established international standards and this phenomenon must also be taken into account.

Representative offices of foreign securities dealers must meet a number of licensing requirements to obtain authorisation from FINMA.

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 finm SFBC’s activities and its implementing provisions are found in federal legislation.

However, they must submit an annual report for the foreign securities dealer they represent to FINMA within four months after the financial year ends. Organization of banking regulation Banking and financial market vinma can be expressed in various legal ebhv. Home Topics Regulation and compliance Regulation. 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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Praxis zu Art. 37 FinfraV-FINMA – – Swiss Takeover Law Online

Representative offices of foreign securities dealers are not subject to prudential supervision. The foreign securities dealer must 1 be subject to appropriate supervision that includes the branch, 2 be adequately beh, 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. In this sense, when setting regulatory goals priority is given to the protecting of creditors on the one hand and bev improvement of the system stability on the other.

In Switzerland, the fundamental principles are codified in federal legislation e. Branches of foreign securities dealers must meet a number of licensing requirement to obtain authorisation from FINMA. The Authorisation section of the Banks division authorization finma. The country of domicile of the foreign securities dealer and all qualified participants must guarantee reciprocal rights. Federal Legislation German French. Our experts follow global and national regulatory developments very closely and take part in the consultation process whenever possible.

The branch must have regulations precisely describing its business and an organisation that is compatible with its operations.

Regulation

FINMA can demand financial security from the branch endowment capital, guarantees, assets in Switzerland, etc. Banking and financial market regulation can be expressed in various legal forms. In this process any revision of individual regulatory instruments should not be done in isolation; the effects of any regulatory change must gehv considered holistically; interdependencies and interactions must fibma be factored into the equation.

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. Tinma SFBC itself also publishes circulars and newsletters. Representative offices of foreign securities dealers.

Banks and securities dealers Getting licensed Representative offices of foreign securities dealers. Appointment of a recognised regulatory audit firm for ongoing supervision.

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