Financial Market Supervision Act (FINMASA)
The FINMASA specifies that the Swiss Financial Market Supervisory Authority (FINMA) is to supervise banks, insurance companies and other financial intermediaries on behalf of the state. It constitutes the umbrella law for other federal acts with provisions related to financial market supervision.
On 12 September 2025, the Federal Council adopted the dispatch on the amendment to FINMAG. The revision aims to adapt the Swiss legal framework for international cooperation in the financial market sector to the current requirements of cross-border financial transactions.
The key points of the bill are:
· the targeted restriction of the client procedure in FINMA administrative assistance proceedings in cases of suspected market abuse,
· the introduction of a new provision on international cooperation in recognition and examination proceedings by foreign authorities,
· the clarification of the rules for the direct transmission of information by supervised entities to foreign authorities,
· the creation of a legal basis for the cross-border service of documents for supervisory purposes,
· and the extension of the provisions on cross-border audits.
These amendments will preserve the integrity, transparency and stability of the financial markets and strengthen customer protection. At the same time, they will support the international competitiveness and global networking of the Swiss financial centre.
Media
12.09.2025
Federal Council adopts dispatch on amending Financial Market Supervision Act and other legislation concerning international cooperation
During its meeting on 12 September 2025, the Federal Council adopted the dispatch on amending the Financial Market Supervision Act and other pieces of legislation. The aim of the legislative amendments is to adapt the Swiss legal framework for international cooperation in the financial market sector to the current requirements in cross-border financial business.