Changes to licences for banks and securities firms

Banks and securities firms that want to change their licence must first inform FINMA and obtain any permission or authorisation they need. They must also adhere to periodic reporting requirements.

Supervisory law distinguishes between licensing, authorisation and reporting requirements.

Licensing and authorisation requirements concern the following significant changes:

  • changes to articles of association and regulations;
  • changes in ultimate management;
  • transition to foreign control and changes in foreign control;
  • risk models for calculating capital adequacy requirements;
  • eligibility of debt instruments for capital adequacy purposes. 

Legal reporting requirements concern other changes to facts upon which the licence or authorisation is contingent, such as activities outside Switzerland or qualified participations. 

The term "bank" in this context also includes domestic securities firms as well as branches of foreign banks and securities firms.