Swiss FINMA conducts 794 investigations, imposes 14 industry bans in 2015

The Swiss Financial Market Supervisory Authority (FINMA) has just published its Enforcement Report for 2015, with the data showing that the regulator focused on unauthorized financial services providers last year.

Of all the 794 investigations started by FINMA in 2015, more than 500, or the majority, targeted unlicensed financial service providers. This marks an increase of 17% from the 436 investigations launched against unauthorized financial services firms in 2014.

Licensed providers of financial services were also subject to tightened scrutiny, as FINMA stepped up and imposed measures on employees and top management of supervised institutions who had engaged in misconduct. In about a dozen cases, the regulator issued industry bans.

FINMA notes that it intervenes only where misconduct has actually occurred. Of the 794 investigations conducted last year, 55 resulted in concluded enforcement proceedings (excluding international cooperation and insolvencies). This serves as a piece of proof that enforcement proceedings are only initiated where indications of a serious breach of supervisory law are well founded and imposing measures to restore legal compliance is unavoidable.



You can view the full FINMA Enforcement Report for 2015 by clicking here.

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