The supervisory activity of the SFBC pursues the objectives of "protecting creditors", "protecting investors", "guaranteeing the functionality of securities markets" and "maintenance of the function". These terms may be described as follows:
| Protecting creditors |
Protecting investors |
Functionality of securities markets |
Maintenance of function |
| Prevention and minimisation of losses for public depositors |
Protection of confidence for individual and collective investments |
Transparency of securities markets |
System stability |
| Protection of customers |
Transparency of investment and conduct |
Equality of treatment of market participants |
Maintenance of confidence |
| Prevention of unlicensed acceptance of deposits from the public |
Security of customer assets |
Protection of minority shareholders |
Maintenance of reputation |
| Efficient corporate reorganisation or liquidation |
Equality of treatment |
Protection from unlawful takeover bids |
Support in fight against crime |
| Indirect protection of owners, including taxpayers in the case of public corporations |
Avoidance or disclosure of conflicts of interest |
|
International competitiveness |
| |
Protection from unauthorised bidders |
|
Protection from unauthorised bidders |
The SFBC monitors compliance with legal prescriptions, issues rulings which are necessary to implement the Law and in this respect, has an all-embracing right to obtain information. Banking secrecy cannot be held out against it. In addition to audit reports, its sources of information are various approval and notification requirements, newsletters and reports of other authorities, customers or third parties as well as the reporting of the media.
The fight against money laundering is also among the supervisory functions performed by the SFBC. In this regard, the SFBC monitors whether the financial intermediaries under its supervision comply with the provisions of the Anti-Money Laundering Act.
The Administrative Procedure Act, which governs in particular the rights of the recipients of decrees, is applicable to all administrative proceedings instituted by the SFBC. Appeals against decrees of the SFBC may be heard before the Federal Administrative Court. Proceedings before the Federal Administrative Court are conducted in accordance with the Administrative Court Act and the Administrative Procedure Act. With the exception of matters pertaining to administrative assistance pursuant to Article 38 of the Swiss Stock Exchange Act, decisions of the Federal Administrative Court may be taken before the Swiss Federal Supreme Court. Proceedings before the Federal Supreme Court are conducted in accordance with the Federal Supreme Court Act. The Federal Administrative Court and the Federal Supreme Court publish their decisions. |
