The Swiss Financial Market Supervisory Authority FINMA has approved the first retail fund to invest directly in Bitcoin, prioritising investor pro-tection and transparency.
Why this matters
The document's core is FINMA's approval of a Bitcoin ETF, which fits the news category for approvals of applications. It also references the operational-risk and custody guidance of 12 January 2026 and restates FinSA conduct obligations (risk warnings, suitability), which supports the Consumer Protection / Conduct...
Alexandra Karg, Head of the Operations division and a member of the Executive Board, has decided to leave the Swiss Financial Market Supervisory Authority FINMA on 30 November 2026, after 10 successful years. FINMA’s CEO and Executive Board thank Alexandra Karg for her valuable contribution during her time at FINMA…
Why this matters
The update is purely administrative and informational in nature. It announces Alexandra Karg's departure from FINMA's Executive Board at the end of November 2026 and describes internal organizational changes to FINMA's structure, including the creation of new divisions and recruitment of replacement positions.
The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has appointed Joris Gröflin to the Swiss Takeover Board with effect from 1 January 2027.
Why this matters
The update announces the election of Joris Gröflin as a new member of the Swiss Takeover Board effective 1 January 2027, replacing Beat Fellmann. This is a standard governance/personnel matter.
The Swiss Financial Market Supervisory Authority FINMA is incorporating an existing circular on liquidity risks at banks and securities firms to a new ordinance. In doing so it is fulfilling the requirement for the format compliance of regulation in accordance with Article 7 paragraph 1 of the Financial Market…
Why this matters
FINMA published a new ordinance replacing previous liquidity guidance for banks and securities firms, effective January 1, 2027. The update includes minor substantive changes to liquidity shortage reporting and financial planning requirements.
The Swiss Financial Market Supervisory Authority FINMA welcomes the announcement made today by the Federal Department of Finance (FDF) regarding the establishment of a working group to optimise financial market regulation in Switzerland. FINMA will support this group with its experience and expertise.
Why this matters
FINMA announces support for a regulatory optimization working group. The content discusses supervisory efficiency improvements, fund authorization processes, and insurance intermediary licensing.
The Swiss Financial Market Supervisory Authority FINMA has concluded enforcement proceedings against two institutions and one individual for serious breaches of the rules of conduct governing the provision of financial services under the FinSA. To restore compliance with the law and protect investors, FINMA ordered…
Why this matters
FINMA enforcement action against fund manager and portfolio manager for serious breaches of conflict of interest duties, suitability obligations, and due diligence requirements under FinSA. License revocation, business cessation orders, and CHF 3M+ confiscation imposed.
The revised Insurance Supervision Act and Insurance Supervision Ordinance came into force on 1 January 2024, bringing about significant changes to the insurance intermediary market. Two and a half years later, FINMA took stock at a symposium in Bern attended by industry experts. It noted positive progress in client…
Why this matters
FINMA's intermediary symposium update on supervision effectiveness under revised Insurance Supervision Act (effective Jan 1, 2024). Addresses unauthorized intermediary activity, misconduct patterns (unsuitable advice, cold calling, forged credentials), and enforcement actions.
The Swiss Financial Market Supervisory Authority FINMA has concluded enforcement proceedings against Wendelspiess Partners AG in liquidation and two individuals for serious breaches of the rules of conduct governing the provision of financial services. It has imposed long-term industry bans on two responsible…
Why this matters
FINMA enforcement action against portfolio manager for serious breaches of conduct duties including inadequate risk disclosure, failure to perform suitability checks, conflicts of interest mishandling, and information withholding. Long-term industry bans imposed and license withdrawn.
The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has appointed Simon Brönnimann as Head of the Recovery and Resolution division and as a member of the Executive Board. He will assume leadership of the division, which he has been leading on an interim basis since April 2026, on a…
Why this matters
This is an informational announcement regarding an internal leadership appointment at FINMA (Swiss financial regulator). Simon Brönnimann's appointment as Head of Recovery and Resolution division is a governance/organizational matter with no immediate regulatory requirement or compliance deadline for firms.
The Swiss Financial Market Supervisory Authority FINMA is incorporating two existing circulars on risk diversification at banks and securities firms into a new ordinance. In doing so it is fulfilling the requirement for the format compliance of regulation in accordance with Article 7 paragraph 1 of the Financial…
Why this matters
FINMA published a new ordinance on risk diversification replacing previous circulars, with implementation effective January 1, 2027. This is informational regulatory guidance on prudential requirements for banks and securities firms, aligned with Basel III reforms.
The Swiss Financial Market Supervisory Authority (FINMA) welcomes the dispatch on the revision of the Banking Act, which the Federal Council adopted today. The bill is one of several key measures aimed at strengthening banking stability. In order to achieve the best possible results, FINMA recommends that the measures…
At its annual media conference today, the Swiss Financial Market Supervisory Authority FINMA outlined the key areas of its supervision in 2025. It consistently implemented its proportional and risk-based supervisory approach, strengthened the resilience of the institutions under its supervision, and focused on the…
In enforcement proceedings against MBaer Merchant Bank AG that FINMA concluded three weeks ago and which were recently pending before the Swiss Federal Administrative Court, FINMA had withdrawn the bank's licence. As part of the proceedings, FINMA ascertained that the bank does not have an adequate structure in place…
Why this matters
This regulatory update from FINMA describes enforcement proceedings against MBaer Merchant Bank AG, a Swiss bank, for serious and systematic deficiencies in complying with anti-money laundering regulations and sanctions requirements.
The US Financial Crimes Enforcement Network (FinCEN) announced today that it considers MBaer Merchant Bank AG to be a financial institution of primary money laundering concern. FINMA is in contact with the bank and FinCEN in connection with the case. The enforcement proceedings previously concluded by FINMA against…
Why this matters
This regulatory update from FINMA concerns enforcement actions and supervisory measures taken against MBaer Merchant Bank AG, a Swiss bank, related to anti-money laundering rules and sanctions risk management.
The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has appointed Alain Girard as the new Head of its Banks division. The current Head of the Recovery and Resolution division will take up his new role on 1 April 2026. He succeeds Thomas Hirschi, who left FINMA at the end of August 2025…
Why this matters
This regulatory update announces the appointment of a new head of FINMA's Banks division, which is a significant leadership change at the Swiss financial regulator.
More attractive working conditions and lower operating costs per workstation: FINMA will relocate its Zurich office from the city centre to Zurich-Oerlikon in autumn 2026.
Why this matters
This regulatory update from FINMA, the Swiss financial regulator, announces the relocation of its Zurich office to a new location in Oerlikon. The move is driven by the expiration of the current rental agreement and aims to reduce operating costs while providing more attractive working conditions.
The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has appointed Hedwig Ulmer Busenhart as the new Head of the Insurance division. The qualified mathematician and actuary has over 25 years of management experience in the insurance sector and will take up her position on 1 April 2026. She…
Why this matters
This regulatory update announces the appointment of a new Head of the Insurance division at FINMA, the Swiss financial regulator. This is relevant for insurance firms operating in Switzerland, as it involves a key leadership change at the regulatory body overseeing the insurance sector.
The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has extended Beat Fellmann’s term of office by one year until the end of 2026.
Why this matters
This regulatory update from FINMA extends the term of office for a member of the Swiss Takeover Board, which is relevant for banks and wealth managers operating in Switzerland.
The Federal Council has appointed Katia Villard to the Board of Directors of the Swiss Financial Market Supervisory Authority FINMA. A professor of criminal law, Ms Villard will succeed Ursula Cassani Bossy who is stepping down from FINMA's Board of Directors at the end of the year.
Why this matters
This regulatory update announces the appointment of a new member to FINMA's Board of Directors, which is the Swiss financial market regulator. This is a governance-related change that impacts banks and wealth managers operating in Switzerland.
In its new 2025 Risk Monitor, FINMA reveals where it sees the greatest risks for the Swiss financial centre. It warns of an increase in geopolitical and technological risks and calls for more robust controls over the outsourcing of critical functions. The climate risk report is also part of the Risk Monitor for the…
Why this matters
This regulatory update from FINMA highlights key risks for the Swiss financial sector, including geopolitical, cyber, and real estate risks. It also emphasizes the importance of robust controls over critical outsourcing functions.
An investigation by the Insurance Industry Vocational Training Association (VBV) has revealed that VBV intermediary certificates were wrongly issued in around 100 cases as a result of manipulation. The VBV is not supervised by FINMA. The association acts on behalf of the insurance and intermediary industry and will…
Why this matters
This regulatory update is relevant to the insurance sector, specifically regarding the unlawful issuance of intermediary certificates. It involves issues around authorization and licensing, as well as consumer protection concerns.
The Swiss Financial Market Supervisory Authority FINMA has identified further progress in UBS’s resolvability and continues to view a resolution as feasible. However, there is a need for greater optionality, which will also require legislative changes. UBS’s emergency plan largely fulfils the current statutory…
Why this matters
The regulatory update discusses progress in UBS's resolvability and the need for greater optionality, which will require legislative changes. This is relevant for banking and wealth management firms from a prudential and operational resilience perspective.
The Swiss Financial Market Supervisory Authority FINMA and the UK Financial Conduct Authority FCA and Prudential Regulation Authority PRA today signed a memorandum of understanding. The memorandum sets out details of the co-operation under the Berne Financial Services Agreement and opens up new cross-border…
Why this matters
This regulatory update covers cooperation between Swiss and UK financial regulators, which impacts firms in the banking, investment management, and insurance sectors. Key topics include prudential requirements, licensing, and consumer protection.
The Swiss Financial Market Supervisory Authority FINMA is transferring the FINMA Banking Insolvency Ordinance, FINMA Insurance Bankruptcy Ordinance and FINMA Collective Investment Schemes Bankruptcy Ordinance to a new consolidated FINMA Insolvency Ordinance. The existing regulations have been revised and adapted where…
Why this matters
This regulatory update from FINMA consolidates insolvency proceedings for financial institutions, including banks, asset managers, and wealth managers. It revises existing regulations based on practical experience, which impacts prudential requirements, operational resilience, and authorization/licensing for these...
The Swiss Financial Market Supervisory Authority FINMA has completed its annual assessment of the emergency and recovery plans for the domestic systemically important banks. The emergency plans for Zürcher Kantonalbank and Raiffeisen fulfil the regulatory requirements. The emergency plan for PostFinance is still not…
Why this matters
This regulatory update from FINMA assesses the emergency and recovery plans for three domestic systemically important banks in Switzerland - PostFinance, Raiffeisen, and Zürcher Kantonalbank. This is relevant for the banking and payments sectors, as it relates to prudential requirements and operational resilience.
Thomas Hirschi has decided to leave the Swiss Financial Market Supervisory Authority FINMA effective 31 August 2025. The Head of the Banks division will pursue a new career outside FINMA. FINMA’s Board of Directors and Executive Board thank Thomas Hirschi for his valuable contribution during his time at FINMA.
Why this matters
This is an informational news update about the departure of a senior executive from the Swiss financial regulator FINMA. It is relevant to banks and the regulatory oversight of senior management within the Swiss banking sector.
At its meeting on 25 June 2025, the Federal Council was informed of the resignation of Rene W. Keller from the Board of Directors of the Swiss Financial Market Supervisory Authority FINMA.
Why this matters
This regulatory update announces the resignation of a board member from FINMA, the Swiss financial market regulator. This is relevant for banking, investment management and wealth management firms operating in Switzerland, as FINMA is the key supervisory authority.