Guidelines on Financial Market Regulation

In April, FINMA's Board of Directors approved the Guidelines on Financial Market Regulation submitted by the Executive Board and coordinated with the Federal Department of Finance. The Guidelines are based on financial market legislation and define FINMA's regulatory and policy process. 
Financial market legislation sets down the various principles for FINMA's regulatory activities. In accordance with these principles, FINMA may regulate only to the extent that this is necessary to fulfil the goals of supervision (protecting creditors, investors and insurance policy holders, safeguarding the operational efficiency of the financial markets and upholding the reputation and competitiveness of the Swiss financial centre). There are various aspects which FINMA must take into account in its regulatory activities. These include the costs and impact of any regulatory measures, the various features specific to the institutions supervised (areas of business and risks) and minimum international standards. In addition, FINMA must ensure transparency in the regulatory process and the appropriate and adequate involvement of the parties affected. It must also support self-regulation.

In these Guidelines (available in German and French) FINMA sets out how it intends to implement these legal requirements in the regulatory process. The central focus is on the rigorous, clear implementation of the regulatory process, transparency, and the adequate and appropriate involvement of those affected.