Assessment of licencing projects and preliminary enquiries

FINMA examines projects that may give rise to a bank or securities firm licensing procedure before an application is submitted.

The purpose of this preliminary review is to enable FINMA to familiarise itself with the main ideas of the project and to make an initial regulatory assessment. The authors of the project thus receive valuable information at an early stage on any obstacles to licensing or other important issues.

With a view to initial contact, a project presentation must be submitted to FINMA containing at least the following information:

  • Business model and description of the activity requiring a licence

  • Driving forces behind the project

  • Financial resources of the project and origin of the funds (use current figures)

  • Planned organisation

  • If the project is part of a group: Overview of the group structure

  • Any information about noteworthy incidents that could be of significance for the licensing procedure (e.g. proceedings against potential top management officials)

  • Timetable

  • Power of attorney (if represented)

FINMA decides whether a meeting is appropriate after receiving the project presentation.

Isolated questions in the context of licensing, the answer to which is of particular importance for the main case, may be dealt with upon request as part of a preliminary enquiry.

Requests to this effect should be addressed in an official language or in English to the Authorisation section of the Banks division.

Assessments of licensing projects are subject to a fee. The fee is based on the Fees and Levies Ordinance.