The Financial Market Infrastructure Act (FinMIA) governs the organisation and operation of financial market infrastructures and the conduct of financial market participants when trading in securities and derivatives.
The FinMIA and the corresponding ordinance entered into force in January 2016. When the dispatch was adopted, the Federal Council asked the Federal Department of Finance (FDF) to submit a report to it on the effects of the new financial market legislation (FinMIA, the Financial Services Act [FinSA] and the Financial Institutions Act [FINA]) no later than five years after it entered into force.
As a first step, the FDF has initiated a review of the LIMF and its consequences. It submitted its recommendations and conclusions to the Federal Council on 30 September 2022. The FinMIA review consists of an analysis of the FinMIA in the light of developments and the experience gained since it entered into force, as well as the identification of a potential need for action. The report identifies the main themes identified in the areas of financial market infrastructures and the rules of conduct for financial market participants when trading in securities and derivatives.
On the basis of the evaluation report, the Federal Council has instructed the FDF to prepare a draft revision of the LIMF for public consultation by the first half of 2024.
Last modification 11.09.2023