The Financial Market Supervision Act entrusts FINMA with supervision under the financial market acts, including the Banking Act, the Financial Institutions Act, the Insurance Supervision Act, and the Financial Market Infrastructure Act1. Financial market supervision aims to protect creditors, investors, and insured persons and to ensure the proper functioning of the financial market2.

For derivatives, FINMA authorizes Swiss central counterparties and trade repositories and recognizes foreign ones under the Financial Market Infrastructure Act3. FINMA also determines which derivative categories are subject to the clearing duty4. The individual rules are covered in the article on Switzerland.

Notes

  1. Financial Market Supervision Act, Article 1(1). ↩

  2. Financial Market Supervision Act, Article 4. ↩

  3. Financial Market Infrastructure Act, Article 4(1), Article 60, and Article 80. ↩

  4. Financial Market Infrastructure Act, Article 101(1). ↩