Changes to licences for directly subordinated financial intermediaries

Directly subordinated financial intermediaries must meet their licence conditions at all times. Changes affecting licence conditions must be reported to FINMA immediately. FINMA is responsible for reviewing and, where appropriate, approving the changes.

FINMA ensures that directly subordinated financial intermediaries and the individuals responsible for their administration and management meet the licence conditions set out in Article 14 para. 2 AMLA at all times.

Following the abolition of the directly subordinated financial intermediary status, FINMA's supervisory activities vis-à-vis directly subordinated financial intermediaries are expected to come to an end on 31 December 2019. Institutions licensed and supervised by FINMA will remain obligated to meet their licence conditions and report any changes to FINMA immediately until the end of the supervisory relationship.

Licence holders must also immediately report to FINMA any incident that is of material significance in terms of supervision (Art. 29. para. 2 FINMASA). Directly subordinated financial intermediaries must report all changes to the conditions under which a licence was originally granted (e.g. appointment of a new guarantor for proper business conduct) by submitting a written request to this effect.

Moreover, directly subordinated financial intermediaries must also report all AMLA-related changes (e.g. the use of agents) to FINMA.

It is not sufficient for directly subordinated financial intermediaries to publish the relevant changes in official publications (e.g. the Swiss Official Gazette of Commerce or the Commercial Register); FINMA must also be informed directly.

Requests relating to the appointment of new guarantors for proper business conduct, as well as the anti-money laundering competence centre and its deputisation arrangements, must be accompanied by the declaration regarding pending and concluded proceedings (Erklärung betreffend hängige und abgeschlossene Verfahren) (in German and French), the declaration regarding qualifying directorships (Erklärung über qualifizierte Mandate) (in German and French) and the declaration regarding other directorships (Erklärung über weitere Mandate) (in German and French).

Erklärung über weitere Mandate

Updated: 31.08.2018 Size: 0,04  MB
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