...as part of the subordination process

As well as supervising licensed institutions, FINMA is also responsible for taking measures against companies and persons who engage in activities covered by supervisory law without the corresponding licence. In such cases FINMA may appoint an independent and suitably-qualified person to investigate circumstances relevant for supervisory purposes (investigating agent). FINMA provides information on individual proceedings where this is especially necessary from a supervisory perspective, in particular if the information is required to protect market participants or supervised institutions, to correct false or misleading information or to uphold Switzerland's reputation as a financial centre.

The list below shows companies and persons for whom an investigating agent or agents have been appointed and entered in the Commercial Register. Inclusion in the list does not automatically mean that a company or person has definitely been engaging in any kind of illegal activity; on the contrary, it is intended to make investors aware that FINMA is investigating the companies and persons shown to determine whether they should be subject to supervision. The list contains the names of the companies and persons in question, their date of inclusion and any other information that may help to protect investors. Companies and persons are removed from the list as soon as the necessary investigations have been completed and any changes made. Liquidations and bankruptcy proceedings ordered because a licensable activity has been identified are communicated via a separate publication.