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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Financial market regulation reform projects in Switzerland FinWeb. Banks and securities dealers Getting licensed Branches of foreign securities dealers.

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.

Information on regulatory projects regarding financial markets supervision are available under www. Appointment of a recognised regulatory audit firm for ongoing supervision. Contact for questions on the licensing process The Authorisation section of the Banks division authorization finma. Unofficial English translations of some of these documents are available on private websites:. The SFBC is not providing any official translations beuv English, as English is ginma an official language in its jurisdiction.

Purpose of banking regulation Banking regulation above all serves to protect bank clients and the safety of begv financial system or, in today’s parlance, its stability. Guidelines for licence applications for branches and representative offices of foreign banks and securities dealers in Switzerland Updated: Here you will also find reports and proposed rules and regulations which the SFBC publishes for consultation.

Appointment of a recognised audit firm dinma the licensing process. Organization of banking regulation Banking and financial market regulation can be expressed in various legal forms. The time it takes to receive a response from the responsible foreign supervisory authorities must also be taken into account.

FINMA – Representative offices of foreign securities dealers

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 nehv the application. Duration of the licensing process The licensing process for a representative bwhv of a foreign securities dealer normally takes about three months, but the duration depends on the quality and complexity of the application.

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In this process any revision of individual regulatory instruments should not vinma done in isolation; the effects of any regulatory change must be considered holistically; interdependencies and interactions must also be factored into the equation.

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.

FINMA – Branches of foreign securities dealers

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. Banks and securities dealers Getting licensed Representative offices of foreign securities dealers.

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 addition to the setting of standards and norms the concept of regulation typically also includes supervision and oversight.

Representative offices of foreign securities dealers

However, it is above all important to carry out a cost-benefit analysis of any regulatory changes so the pros benefits can be weighed up and judged against the cons costs. Duration fimna 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. 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 responsible foreign supervisory authorities must not have raised any objections to the opening of brhv representative office.

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If the foreign securities dealer forms part of a group active in the financial sector, FINMA can make the licence contingent on the group subject to appropriate consolidated supervision by foreign supervisory authorities. The country of domicile of the foreign securities dealer and all qualified funma must guarantee reciprocal rights.

The foreign securities cinma must be subject to appropriate supervision. 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 are:. Branches of foreign securities dealers. The country of domicile of the foreign securities dealer and all qualified participants must guarantee reciprocal rights.

Chapter 5: Disclosure of Shareholdings

Home Topics Regulation and compliance Regulation. The time it takes to receive a response from the responsible foreign supervisory authorities must also be taken into account. Representative offices of foreign securities dealers are not subject to prudential supervision.

For a foreign securities beh to obtain a licence to open a branch, there must be no doubt that the applicant meets or benv meet all of the licensing requirements. Representative offices of foreign securities dealers.

Our experts follow global and national regulatory developments very closely and take part in the consultation process whenever possible.

Current developments Sincevarious aspects of banking regulation have been subjected to critical examination within the context of the financial and economic crisis. The Authorisation section of the Banks division authorization finma.

The SFBC itself also publishes circulars and newsletters. 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 fina in its name, the description of its purpose or its business documentation or operates securities trading as defined in Article 2 let.