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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Appointment of a recognised audit firm for the licensing process.

Translation of “SESTO-FINMA” in German

The most important legal precepts governing the SFBC’s activities and its implementing provisions are found in federal legislation. In addition, there are ordinances and circulars issued by Swiss Financial Market Supervisory Authority FINMA as well as self-regulatory directives, guidelines and recommendations issued by the financial sector itself, in particular our association.

Home Topics Regulation and compliance Regulation. Duration of the licensing process 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.

Representative offices of foreign securities dealers are not subject to prudential supervision. Representative offices of foreign securities dealers must meet a number of licensing requirements to obtain authorisation from FINMA. 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.

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. Purpose of banking regulation Banking regulation above all serves to protect bank clients and the safety of the financial system or, in today’s parlance, its stability. The SFBC itself also publishes circulars and newsletters.

Under a dualistic supervisory system the FINMA commissions auditing companies to carry out the actual inspection and auditing of the banks. Furthermore, in many fnima of regulation — for example with regard to capital requirements and remuneration systems — Switzerland already exceeds established international standards and this phenomenon must also be taken into account.

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Duration of 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.

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. 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 fnma trading as defined in Article 2 let.

The licensing process for behf branch of a foreign securities dealer normally takes about six months, but the duration depends on the quality and complexity of the application. The time it takes to receive a response from the responsible bejv supervisory authorities must also be taken into account. Role of the Swiss Bankers Association In the day-to-day work of the Swiss Bankers Association the area of banking regulation is an important area of focus.

Branches of foreign bdhv dealers.

Chapter 5: Disclosure of Shareholdings

In addition to the setting of standards and norms the concept of regulation typically also includes supervision and oversight. In the day-to-day work of the Swiss Bankers Association the area of banking regulation is an important area of focus.

Bdhv foreign securities dealer needs to be authorised by FINMA if it employs staff in Switzerland who, on a professional basis, fnima represent it for advertising or other purposes in or from Switzerland, including in particular forwarding client orders to it, but do not trade securities or manage client accounts for the foreign securities dealer that give rise to legal obligations.

Banking regulation above all serves to protect bank clients and the safety of the financial system or, in today’s parlance, its stability.

Praxis zu Art. 37 FinfraV-FINMA – – Swiss Takeover Law Online

Here you will also find reports and proposed rules and regulations which the SFBC publishes for consultation. Information on regulatory projects regarding financial markets supervision are available under www. Financial market regulation reform projects in Switzerland FinWeb. The branch must have regulations precisely describing its business and an organisation that is compatible with its operations.

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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. FINMA can demand financial security from the branch endowment capital, guarantees, assets in Switzerland, etc. Banking and financial market regulation can be fin,a in various legal forms.

Representative offices of foreign securities dealers. Organization of banking regulation Banking and financial market regulation can be expressed in various legal forms. Any company organised under foreign law that either holds a securities dealer licence abroad, uses the term “securities dealer” or behhv 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.

At international as well as at national level, a number of regulatory requirements have been tightened. The Authorisation section of the Bwhv division authorization finma. The foreign securities dealer must 1 be subject to appropriate supervision that includes the branch, 2 be adequately organised, 3 have sufficient finances and qualified staff to operate a branch in Switzerland, and 4 prove that the branch can be entered into the Commercial Register.

Sincevarious aspects of banking regulation have been subjected to critical examination within the context of the financial and economic crisis. Banks and securities dealers Getting licensed Representative offices of foreign securities dealers. Those in charge of the representative office must assure proper business conduct. Guidelines for licence applications for branches and representative offices of foreign banks and securities dealers in Switzerland Updated: The foreign securities dealer must be subject to appropriate supervision.