Legal basis for market infrastructures and markets

Financial market law governing the supervision of market infrastructures and markets derives from two federal acts, three Federal Council ordinances, two FINMA ordinances, one takeover Ordinance and one set of regulations.

Financial Market Infrastructure Act

This act regulates financial market infrastructures and derivatives trading.

Financial Market Infrastructure Ordinance

This ordinance details a number of provisions set out in the Financial Market Infrastructure Act.

FINMA Financial Market Infrastructure Ordinance (FMIO-FINMA)

This FINMA ordinance elaborates on the provisions set out in the Financial Market Infrastructure Ordinance.

Financial Institutions Act (FinIA)

The Financial Institutions Act lays down the requirements for financial institutions' activities (portfolio managers, trustees, managers of collective assets, fund management companies and securities firms). Various forms of securities trading require FINMA authorisation.

Financial Institutions Ordinance (FinIO)

FinIO governs the authorisation of, and organisational requirements for, supervised financial institutions.

Capital Adequacy Ordinance

Applicable to banks and securities firms, this ordinance sets out that these institutions are required to keep sufficient capital available for the business they conduct, the risks they enter into, therefore limiting their risks accordingly.

FINMA Banking Insolvency Ordinance

Applicable to banks, securities firms and central mortgage bond institutions, this ordinance further defines the restructuring and bankruptcy proceedings set out in the Banking Act. 

Takeover Ordinance

This ordinance specifies how integrity and transparency are to be assured in public takeover offers as well as the equal treatment of investors.

Regulations of the Takeover Board

These regulations define the organisation of the Takeover Board.
Backgroundimage