Abbreviations

A

ACPR

Autorité de contrôle prudentiel et de résolution (France)

AEI

Automatic exchange of information

AFBS

Association of Foreign Banks in Switzerland

AFM

Netherlands Authority for the Financial Markets

AIF

Alternative Investment Fund

AIFM

Alternative Investment Fund Manager

AIFMD

Alternative Investment Fund Managers Directive (EU)

AMF

Autorité des marchés financiers (France/Canada)

AMLA

Swiss Federal Act of 10 October 1997 on Combating Money Laundering and Terrorist Financing in the Financial Sector (Status as of 1 January 2015) (Anti-Money Laundering Act; SR 955.0)

AMLO

Ordinance on the Prevention of Money Laundering and the Financing of Terrorisme (Anti-Money Laundering Ordinance, AMLO; SR 955.01)

AMLO-FINMA

Ordinance of 3 June 2015 of the Swiss Financial Market Supervisory Authority on the Prevention of Money Laundering and Terrorist Financing (Status as of 1 January 2016) (Anti-Money Laundering Ordinance-FINMA; SR 955.033.0)

AOA

Swiss Federal Act of 16 December 2005 on the Licensing and Supervision of Auditors (Status as of 1 January 2015) (Auditor Oversight Act; SR 221.302)

AOO

Swiss Federal Ordinance of 22 August 2007 on the Licensing and Supervision of Auditors (Status as of 1 January 2015) (Auditor Oversight Ordinance; SR 221.302.3)

ASC

Alberta Securities Commission (Canada)

ASCB

Association of Swiss Cantonal Banks

AT1

Additional Tier 1 capital

B

BA

Swiss Federal Act of 8 November 1934 on Banks and Savings Banks (Status as of 1 January 2015) (Banking Act; SR 952.0)

BaFin

Federal Financial Supervisory Authority (Germany)

BCBS

Basel Committee on Banking Supervision

BCR

Basic Capital Requirements

BCSC

British Columbia Securities Commission (Canada)

BIO-FINMA

Ordinance of 30 August 2012 of the Swiss Financial Market Supervisory Authority on the Insolvency of Banks and Securities Dealers (FINMA Banking Insolvency Ordinance; SR 952.05)

BMA

Bermuda Monetary Authority

BO

Swiss Federal Ordinance of 30 April 2014 on Banks and Savings Banks (Status as of 1 January 2015) (Banking Ordinance; SR 952.02)

BVGE

Federal Administrative Court decision

BVV 2

Swiss Federal Ordinance of 18 April 1984 on Occupational Retirement, Survivors’ and Disability Pension Plans (SR 831.441.1)

C

CAO

Swiss Federal Ordinance of 1 June 2012 on Capital Adequacy and Risk Diversification for Banks and Securities Dealers (Capital Adequacy Ordinance; SR 952.03)

CBI

Central Bank of Ireland

CC

Swiss Criminal Code of 21 December 1937 (SR 311.0)

CCs

Control Committees of the Federal Assembly

CDB

Agreement on the Swiss Banks’ Code of Conduct with regard to the exercise of due diligence

CEAT

Committees for Economic Affairs and Taxation of the (Swiss) Federal Assembly

CEAT-N

Committee for Economic Affairs and Taxation of the National Council

CET1

Common Equity Tier 1 capital

CFTC

U.S. Commodity Futures Trading Commission

CHF

Swiss franc

Circ

Circular

CIS

Collective investment schemes

CISA

Swiss Federal Act of 23 June 2006 on Collective Investment Schemes (Status as of 1 January 2015) (Collective Investment Schemes Act; SR 951.31)

CISO

Swiss Federal Ordinance of 27 August 2014 on Collective Investment Schemes (Status as of 1 January 2015) (Collective Investment Schemes Ordinance; SR 951.311)

CISO-FINMA

Ordinance of 21 December 2006 of the Swiss Financial Market Supervisory Authority on Collective Investment Schemes (FINMA Collective Investment Schemes Ordinance; SR 951.312)

CMG

Crisis Management Group

CoCo

Contingent convertible bond

ComFrame

Common Framework for the Supervision of Internationally Active Insurance Groups

CONSOB

Commissione Nazionale per le Società e la Borsa (Italy)

CPMI

Committee on Payments and Market Infrastructures

CPSS

Committee on Payment and Settlement Systems

CSDR

Central Securities Depositories Regulation

CSSF

Commission de Surveillance du Secteur Financier (Luxembourg)

CSSH

Committees for Social Security and Health of the (Swiss) Federal Assembly

CSSH-N

Committee for Social Security and Health of the National Council

CSSH-S

Committee for Social Security and Health of the Council of States

D

DEBA

Swiss Federal Act of 11 April 1889 on Debt Enforcement and Bankruptcy (SR 281.1)

DFS

Department of Financial Services (USA)

DoJ

U.S. Department of Justice

DRG

Diagnosis-related groups

DSFI

Directly subordinated financial intermediary

E

EBA

European Banking Authority

ECB

European Central Bank

ECG

Enlarged Contact Group on the Supervision of Collective Investment Schemes

EEA

European Economic Area

EFSA

Finantsinspektsioon (Estonia)

EMIR

European Market Infrastructure Regulation

ENA

FINMA Enforcement Committee

ESMA

European Securities and Markets Authority

ETF

Exchange-traded funds

EU

European Union

F

FAOA

Swiss Federal Audit Oversight Authority

FAQ

Frequently asked question

FATCA

Foreign Account Tax Compliance Act (US)

FATF

Financial Action Task Force on Money Laundering

FBO-FINMA

Ordinance of 21 October 1996 of the Swiss Financial Market Supervisory Authority on Foreign Banks in Switzerland (Status as of 1 January 2015) (FINMA Foreign Banks Ordinance; SR 952.111)

FC

Finance Committees of the (Swiss) Federal Assembly

FCA

Financial Conduct Authority (UK)

FC-N

Finance Committee of the National Council

FCs

Finance Committees of the (Swiss) Federal Assembly

FDIC

Federal Deposit Insurance Corporation (USA)

FDJP

Swiss Federal Department of Justice and Police

Fed

Federal Reserve System

FFSA

Financial Services Act (planned legislation)

FI

Finansinspektionen (Sweden)

FinDel

Finance Delegation

FinIA

Financial Institutions Act of 15 June 2018 (Financial Institutions Act; SR 954.1)

FINMASA

Swiss Federal Act of 22 June 2007 on the Swiss Financial Market Supervisory Authority (Status as of 1 January 2020) (Financial Market Supervision Act; SR 956.1)

FINRA

Financial Industry Regulatory Authority (USA)

FinSA

Financial Services Act (FinSA) of 15 June 2018 (Financial Services Act; SR 950.1)

FinSO

Financial Services Ordinance (Financial Services Ordinance; SR 950.11)

FMA

Financial Market Authority for Liechtenstein/Austria

FMAO-FINMA

Ordinance of 5 November 2014 of the Swiss Financial Market Supervisory Authority on Auditing (Status as of 1 January 2015) (FINMA-FMAO; SR 956.161)

FMIA

Federal Act from 19 June 2015 governing financial market infrastructures and market conduct regarding securities and derivatives trading (Financial Market Infrastructure Act; SR 958.1)

FMIO

Ordinance from 25 November 2015 governing financial market infrastructures and market conduct regarding securities and derivatives trading (Financial Market Infrastructure Ordinance; SR 958.11)

FMIO-FINMA

Ordinance issued on 3 December 2015 by the Swiss Financial Market Supervisory Authority governing financial market infrastructures and market conduct regarding securities and derivatives trading (Financial Market Infrastructure Ordinance-FINMA; SR 958.111)

FOJ

Swiss Federal Office of Justice

FSA

• Finanstilsynet (Denmark and Norway)
• Financial Services ActFinancial 
• Financial Services Authority (UK, predecessor authority of the PRA and FCA)

FSAP

Financial Sector Assessment Program

FSB

Financial Stability Board

FSC

Financial Services Commission (Gibraltar)

FSMA

Financial Services and Markets Authority (Belgium)

G

G-20

Group of the 20 leading industrialised and developing economies

GDP

Gross domestic product

GFSC

Guernsey Financial Services Commission

GIIPS

Greece, Ireland, Italy, Portugal, Spain

G-SIB

Global systemically important bank

G-SIFI

Global systemically important financial institution

G-SII

Global systemically important insurer

H

HNWI

High-net-worth individual

I

IAIG

Internationally active insurance group

IAIS

International Association of Insurance Supervisors

IBO-FINMA

Ordinance of 17 October 2012 of the Swiss Financial Market Supervisory Authority on Insurance Bankruptcy (FINMA Insurance Bankruptcy Ordinance; SR 961.015.2)

ICA

Swiss Federal Act of 2 April 1908 on Insurance Contracts (Insurance Contract Act; SR 221.229.1)

ICP

Insurance Core Principles

ICS

Insurance Capital Standard (Global capital standard for insurers)

IMF

International Monetary Fund

IOSCO

International Organization of Securities Commissions

IPO

Initial public offering

IRB

Internal ratings-based

IRS

Internal Revenue Service (US)

ISA

Swiss Federal Act of 17 December 2004 on the Supervision of Insurance Companies (Status as of 1 January 2015) (Insurance Supervision Act; SR 961.01)

ISDA

International Swaps and Derivatives Association

ISO

Swiss Federal Ordinance of 9 November 2005 on the Supervision of Private Insurance Companies (Insurance Supervision Ordinance; SR 961.011)

ISO

Swiss Federal Ordinance of 9 November 2005 on the Supervision of Private Insurance Companies (Status as of 1 January 2013) (Insurance Supervision Ordinance; SR 961.011)

J

JFSC

Jersey Financial Services Commission

L

LCR

Liquidity coverage ratio

LIBOR

London Interbank Offered Rate

LiqO

Swiss Federal Ordinance of 30 November 2012 on the Liquidity of Banks (Status as of 1 January 2015) (Liquidity Ordinance; SR 952.06)

M

MbO

Management by Objectives

MDIFP

Missouri Department of Insurance, Financial Institutions and Professional Registration

MFSA

Malta Financial Services Authority

MiFID

Markets in Financial Instruments Directive

MiFIR

Markets in Financial Instruments Regulation

MMoU

Multilateral Memorandum of Understanding 

MoU

Memorandum of understanding

N

NAIC

National Association of Insurance Commissioners (USA)

NSFR

Net stable funding ratio

O

OAK BV

Swiss Federal Occupational Pensions Regulatory Commission

OCC

Office of the Comptroller of the Currency (USA)

ODRG

OTC Derivatives Regulators Group

OPPFI

Ordinance of 18 November 2009 on the Professional Practice of Financial Intermediation (SR 955.071; German acronym VBF)

ORSA

Own Risk and Solvency Assessment

OSC

Ontario Securities Commission (Canada)

OTC

Over the counter

P

PEP

Politically exposed person

PRA

Prudential Regulation Authority (UK)

Q

QIS

Quantitative impact study

R

RAP

Resolvability Assessment Process

RCAP

Regulatory Consistency Assessment Programme

R-COPA

RSS

Really Simple Syndication

RWA

Risk-weighted assets

S

SBA

Swiss Bankers Association

SEC

U.S. Securities Exchange Commission

SECO

Swiss State Secretariat for Economic Affairs

SFAMA

Swiss Funds & Asset Management Association

SFBC

Swiss Federal Banking Commission (one of FINMA’s predecessor authorities)

SIA

Swiss Insurance Association

SICAF

Investment company with fixed capital

SICATC

Swiss Institute of Certified Accountants and Tax Consultants

SICAV

Investment company with variable capital

SIF

Swiss State Secretariat for International Financial Matters

SIFI

Systemically important financial institution

SNB

Swiss National Bank

SOO

Ordinance governing supervisory organisations involved in financial market supervision (Supervisory Organisations Ordinance)

SQA

Swiss Qualitative Assessment

SRO

Self-regulatory organisation

SRO-SIA

Self-Regulatory Organisation of the Swiss Insurance Association

SSM

Single supervisory mechanism

SSPA

Swiss Structured Products Association

SST

Swiss Solvency Test

T

T1

Tier 1 capital

T2

Tier 2 capital

TLAC

Total loss-absorbing capacity

TOB

Swiss Takeover Board

TSX

Toronto Stock Exchange (Canada)

U

UCITS

Undertaking for Collective Investment in Transferable Securities

W

WTO

World Trade Organization