News

24 August 2015
News

Cooperation agreement concluded between FINMA and the Jersey Financial Services Commission

The Swiss Financial Market Supervisory Authority FINMA has entered into a cooperation agreement with the Jersey Financial Services Commission (JFSC), the supervisory authority of Jersey. The conclusion of such an agreement on cooperation and exchange of information between FINMA and the competent foreign supervisory authorities is a prerequisite for authorising branches of foreign asset managers of collective investment schemes in Switzerland.

The agreement aims at ensuring efficient cooperation between the supervisory authorities and effective supervision of the institution or the branch in their respective countries. While strengthening cross-border investor protection, the exchange of information between supervisory authorities facilitates the authorisation of institutions or branches and ensures their supervision under the laws and regulations applicable in their respective countries.