Industry bans

FINMA can ban individuals responsible for serious violations of supervisory law from acting in a senior function at a supervised institution for up to five years.

An industry ban under Article 33 FINMASA is intended to ensure the proper functioning of financial markets and protect creditors, investors and policyholders.

FINMA enforcement policy

Updated: 25.09.2014 Size: 0,31  MB
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Prevention

An industry ban has a preventive effect. The aim is always to prevent the person concerned and other financial market participants from committing repeated or similar violations of the law.

Targeted approach

The character of this measure means that it can also be imposed on individuals who no longer wish to engage in the supervised financial market activity in question. In line with its Enforcement Policy, FINMA takes targeted action against individuals responsible for serious violations of supervisory law.

FINMA’s primary aim as a supervisory authority is to prevent future damage rather than to punish past mistakes, so it does not always impose bans on those who have permanently left the profession or field in question.