Preliminary notification of establishing a physical presence abroad – new guidelines for banks and securities dealers

Banks and securities dealers intending to establish a physical presence abroad are subject to compliance with the preliminary reporting requirements as prescribed in the Banking Act (BA) and the Stock Exchange Act (SESTA). In order to inform the supervised institutions appropriately, the Swiss Financial Market Supervisory Authority FINMA is publishing guidelines outlining when there is a duty to inform and the details that are to be submitted to FINMA pursuant to Article 6b BO and Article 18 para. 5 SESTO.

This document entitled "Guidelines on preliminary reporting requirements for establishing a physical presence abroad" (c.f. Art. 3 para. 7 BA and Art. 18 para. 5 SESTO) can be consulted online today and is available in German, French, Italian and English.