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Circulars

Under Art. 7 para. 1 let. b of the Financial Market Supervision Act, FINMA regulates by way of circulars explaining how financial market legislation is to be applied.

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FINMA-Circ. Date Short Title Title
FINMA-Circ. 15/2 03.07.14 Liquidity risks banks Qualitative requirements for liquidity risk management and quantitative requirements for liquidity maintenance (in German and French)
FINMA-Circ. 15/1 27.03.14 Accounting – banks Accounting guidelines for banks, securities dealers, financial groups and conglomerates (AGB) (in German and French)
FINMA-Circ. 13/9 10.09.13 Distribution of collective investment schemes Distribution under the Collective Investment Schemes legislation (in German)
FINMA-Circ. 13/8 05.09.13 Market conduct rules Supervisory rules for market conduct in securities trading
FINMA-Circ. 13/7 29.05.13 Limitation intragroup exposure – banks Limitation of intragroup positions – banks (in German)
Appendix to FINMA Circular 2013/7 (in German)
FINMA-Circ. 13/6
(replaced by FINMA-Circ. 15/2)
06.12.12(amended 01.01.13) Liquidity – banks Reporting requirements for short-term liquidity coverage ratio and qualitative requirements for liquidity risk management
FINMA-Circ. 13/5 05.12.12 Liquidity – insurers Principles for recording liquidity risks and liquidity reporting for insurers
FINMA-Circ. 13/4 06.12.12 Audit firms and lead auditors Audit firms and lead auditors
FINMA-Circ. 13/3 06.12.12 Auditing Auditing
Documents pertaining to the Auditing Circular
FINMA-Circ. 13/2 06.12.12 Adjustments to the Swiss Solvency Test Temporary adjustments to the Swiss Solvency Test (SST)
FINMA-Circ. 13/1 01.06.12
(amended 27.03.14)
Eligible equity capital – banks Eligible equity capital under supervisory law in the banking sector (in German and French)
FINMA-Circ. 12/1 29.06.11
(amended 01.06.12)
Credit rating agencies Recognition of institutions that assess creditworthiness (credit rating agencies)
FINMA-Circ. 11/3 30.06.11 Provisions in reinsurance Technical provisions in reinsurance
FINMA-Circ. 11/2 30.03.11
(amended 01.01.13)
Capital buffer and capital planning – banks Capital buffer and capital planning in the banking sector
FINMA-Circ. 11/1 20.10.10 Financial intermediation under AMLA Additional information on the Ordinance on the Professional Practice of Financial Intermediation
FINMA-Circ. 10/3 18.03.10 Health insurance under ISA Supplementary social health insurance and special issues in relation to private health insurance
FINMA-Circ. 10/2 17.12.09
(amended 01.01.13)
Repo/SLB transactions Repurchase & reverse repurchase transactions and securities lending & borrowing transactions (Repo/SLB transactions)
FINMA-Circ. 10/1 21.10.09
(amended 01.06.12)
Remuneration schemes Minimum standards for remuneration schemes of financial institutions
FINMA-Circ. 09/1 18.12.08
(amended 30.05.13)
Guidelines on asset management Guidelines for the recognition of self-regulation in asset management as minimum standard
FINMA-Circ. 08/44 28.11.08
(amended 01.06.12)
SST Swiss Solvency Test (SST)
FINMA-Circ. 08/43 20.11.08 Technical provisions – life insurance Technical provisions in life insurance
FINMA-Circ. 08/42 20.11.08 Technical provisions – non-life insurance Technical provisions in non-life insurance
FINMA-Circ. 08/41
(replaced by FINMA-Circ. 13/3 and 13/4)
20.11.08 Audit matters
FINMA-Circ. 08/40 20.11.08
(amended 28.08.13)
Life insurance Life insurance
FINMA-Circ. 08/39 20.11.08
(amended 28.08.13) 
Unit-linked life insurance Unit-linked life insurance
FINMA-Circ. 08/38
(replaced by FINMA-Circ. 13/8)
20.11.08 Market conduct rules Market conduct rules for the securities market
FINMA-Circ. 08/37 20.11.08 Delegation by fund management companies / SICAVs Delegation of tasks by fund management companies and SICAVs
FINMA-Circ. 08/36 20.11.08 Financial reporting – occupational pension schemes Financial reporting within the framework of occupational pension schemes
FINMA-Circ. 08/35 20.11.08
(amended 06.12.12)
Internal audit – insurers Internal audit within the insurance sector
FINMA-Circ. 08/34 
(replaced by FINMA-Circ. 13/1)
20.11.08 Core capital – banks Determining regulatory capital in the banking sector using internationally accepted accounting standards
FINMA-Circ. 08/33 20.11.08 Capital requirement – reinsurance captives Risk-based capital requirement of reinsurance captives
FINMA-Circ. 08/32 20.11.08 Corporate governance – insurers Corporate governance, risk management and the internal control system within the insurance sector
FINMA-Circ. 08/31 20.11.08
(amended 06.12.12)
Insurance group reports Business report for insurance groups and insurance conglomerates
FINMA-Circ. 08/30 20.11.08 Solvency I – insurance groups Solvency I for insurance groups and insurance conglomerates
Appendix 1
Appendix 2



FINMA-Circ. 08/29 20.11.08 Internal business transactions – insurance groups Reporting on internal business transactions of insurance groups and insurance conglomerates
FINMA-Circ. 08/28 20.11.08 Structure – insurance groups Reporting on the structure of insurance groups and insurance conglomerates
FINMA-Circ. 08/27 20.11.08 Organization – insurance groups Reporting on the organization of insurance groups and insurance conglomerates
FINMA-Circ. 08/26
(replaced by FINMA-Circ. 12/1)
20.11.08 Rating agencies Recognition of rating agencies for the assessment of capital adequacy requirements
FINMA-Circ. 08/25 20.11.08 Reporting obligation – insurers Independent obligation of insurance companies to report all events of supervisory relevance
FINMA-Circ. 08/24 20.11.08
(amended 06.12.12)
Supervision and internal control – banks Supervision and internal control within the banking sector
FINMA-Circ. 08/23 20.11.08
(amended  18.09.13)
Risk diversification – banks Risk diversification within the banking sector
(previous version as per 31.12.2012 (in German))
FINMA-Circ. 08/22 20.11.08
(amended  27.03.14)
Capital adequacy disclosure – banks Disclosure obligations regarding capital adequacy in the banking sector (in German and French
FINMA-Circ. 08/21 20.11.08
(amended 27.03.14)
Operational risks at banks Capital adequacy requirements for operational risks within the banking sector
FINMA-Circ. 08/20 20.11.08
(amended 18.09.13)
Market risks – banks Capital adequacy requirements for market risks within the banking sector (in German and French)
(previous version as per 31.12.2012 (in German))
FINMA-Circ. 08/19 20.11.08 (amended  
18.09.13)
Credit risks – banks Capital adequacy requirements for credit risks within the banking sector (in German and French)
(previous version as per 31.12.2012 (in German))
Mapping
Mapping SA-CH und SA-BIZ
Mapping IRB






FINMA-Circ. 08/18 20.11.08
(amended 26.06.13)
Investment guideline – insurers Investment guideline for tied assets and the use of derivative financial instruments by insurers
FINMA-Circ. 08/17 20.11.08
(amended
20.10.10)
Exchange of information between SROs and FINMA Exchange of information between SROs and FINMA regarding affiliations, exclusions and withdrawals of membership of financial intermediaries
FINMA-Circ. 08/16 20.11.08 Responsible actuary Requirements applying to responsible actuaries
FINMA-Circ. 08/15 20.11.08 Mergers – health insurance companies Mergers, demergers, conversions, and transfers of assets and liabilities by health insurance companies under the Health Insurance Act in relation to supplementary health insurance under the Insurance Contracts Act
FINMA-Circ. 08/14 20.11.08
(amended 27.03.14)
Supervisory reporting – banks Supervisory reporting for annual and semi-annual financial statements within the banking sector (in German and French)
FINMA-Circ. 08/13 20.11.08 Tariffication risk insurance – occupational pension schemes Tariffication of life insurance in case of death and disability within the framework of occupational pension schemes
FINMA-Circ. 08/12 20.11.08 Revolving-door principle – occupational pension schemes Surrender terms of occupational pension schemes in business plans and General Insurance Conditions
FINMA-Circ. 08/11 20.11.08
(amended 13.09.13)
Disclosure requirements for securities transactions  Disclosure requirements for securities transactions 
FINMA-Circ. 08/10 20.11.08
(amended 03.07.14) 
Self-regulation as a minimum standard Self-regulation recognised as a minimum standard by the Swiss Financial Market Supervisory Authority
FINMA-Circ. 08/9
(abrograted by 31.07.12)
20.11.08 Supervision of large banks Supervision of large banks
FINMA-Circ. 08/8
(replaced by FINMA-Circ. 13/9)
20.11.08 Public advertising – collective investment schemes Public advertising under the Collective Investment Schemes legislation
FINMA-Circ. 08/7 20.11.08
(amended 06.12.12)
Outsourcing – banks Outsourcing of business areas within the banking sector
FINMA-Circ. 08/6 20.11.08 
(amended 06.12.12)
Interest-rate risks – banks Measurement, management and monitoring of interest-rate risks within the banking sector
FINMA-Circ. 08/5 20.11.08 Securities dealers Explanatory notes regarding definition of securities dealers
FINMA-Circ. 08/4 20.11.08 Securities journals Maintenance of securities journals by securities dealers
FINMA-Circ. 08/3 20.11.08
(amended
18.01.10)
Public deposits at non-banks Commercial acceptance of public deposits by non-banks under the Banking Act
FINMA-Circ. 08/2
(replaced by FINMA-Circ. 15/1)
20.11.08
(amended
26.06.13)
Accounting – banks Guidelines on accounting standards under art. 23 to 27 of the Banking Ordinance
FINMA-Circ. 08/1 20.11.08
(amended
01.01.13)
Authorisation and notification requirements – banks Matters requiring authorisation and notification for stock exchanges, banks, securities dealers and audit firms