Institutions with a FinTech licence (persons pursuant to Art. 1b BA) or a licence as a DLT trading facility are subject to supervision by FINMA. Ongoing compliance with the licensing requirements is key here.
FINMA’s supervisory system distinguishes between direct supervision, where FINMA carries out the supervisory work itself, and indirect supervision, where FINMA appoints a regulatory audit firm to extend its reach. For this, FINMA relies on the work of audit firms which have been approved by the Federal Audit Oversight Authority. The audit firms are regularly requested by the supervised institutions to carry out regulatory audits. FINMA has a variety of supervisory instruments at its disposal, some of which it applies itself on site. In addition, FINMA can collect data provided that a needs-based approach is ensured.