FINMA discussion papers (formerly position papers) draw the public's attention to issues which it deems important for the financial market. These papers may also point to the need for legislative action.
FINMA keeps a close eye on developments in all segments of the financial market. At times it encounters trends and tendencies that warrant broad public discussion. FINMA may then initiate a public debate by publishing a discussion paper on the subject concerned.
FINMA discussion papers set out its observations and put forward proposals from the supervisory authority’s point of view. If FINMA ascertains a need for regulatory action, it can produce a discussion paper to highlight this. Suggestions made by the financial market regulator at this stage are never binding; they may turn out to be the first step in launching the legislative process.