The Markets division is responsible for regulating stock exchanges and capital markets, the takeover and disclosure regimes, collective investment firms and their products, auditors and rating agencies. It also assists the Services division in matters of accounting:
- Stock exchanges and similar bodies require operating licences and are subject to the overall supervision of FINMA. FINMA must approve the organization and regulation of stock exchanges.
- Securities dealing is monitored by the exchanges and FINMA for signs of insider trading, manipulation of the market and other irregularities. When investigating the grounds for any suspicions, FINMA coordinates its activities with the criminal prosecution authorities.
- FINMA is responsible for enforcing regulations with regard to the disclosure of holdings and to takeover procedures; it is the authority of first instance for complaints regarding decisions taken by the Takeover Board.
- The Federal Act on Collective Investment Schemes (CISA) provides for the approval and licensing by FINMA of products and the institutions involved.
- In the implementation of CISA, FINMA takes the measures necessary to promote and develop the Swiss fund market.
- FINMA’s regulation of auditing covers authorising and monitoring statutory audit firms and lead auditors and approving changes of audit firm.
- FINMA authorises and regulates rating agencies.
- The FINMA Markets division includes a specialised accounting unit which provides for consultancy and support services both internally and externally.