News

News
2019

Minor amendment to the FINMA Ordinance on Data Processing

The Swiss Financial Market Supervisory Authority FINMA is amending the FINMA Ordinance on Data Processing slightly with effect from 1 December 2019. It is adding to the list of data categories permissible in the data collection to monitor proper business conduct: documentation relating to a person is now stored in the data collection to monitor proper business conduct if it shows that despite there being indications that a supervisory breach has occurred, no FINMA proceedings can be launched against this person because they have absconded. Written undertakings that a person no longer operates in the Swiss financial market either temporarily or permanently are now also collected and stored as a data category.

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