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Frequently Asked Questions

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Measures against unauthorized institutions

Which means can be employed by the SFBC against institutions which operate without a license?

If there are grounds for suspicion that a company is carrying out an unauthorized activity, the SFBC will conduct investigations to establish the facts and, if necessary, take measures to protect investors' interests. The entity under investigation is, by law, required to cooperate with the SFBC during the investigations.

Should it become apparent that a company accepts deposits from the public or carries out the business of a bank or security dealer without a license from the SFBC, the SFBC takes appropriate measures.

Should neither the granting of a license belatedly nor a redirection of activities be possible, the liquidation of the company must be undertaken. This can be effected either on a voluntary basis through a resolution of the company or compulsorily, as a result of a ruling of the SFBC. If the SFBC dissolves a company, it appoints the liquidator and monitors his or her activity. If the company is heavily in debt or illiquid, the liquidation is effected within the framework of the bankruptcy proceedings that have to be ordered by the SFBC.

In the area of collective investments, the SFBC can order the winding-up or dissolution of any individual or entity operating without an authorisation or approval. In order to ensure the interests of the investors, the supervisory authority can order the collective investment scheme to have a legal structure that complies with the law.

An analogous procedure is chosen in the case of physical persons, if they carry out an activity that requires by law a license of the SFBC.

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