The Swiss Financial Market Supervisory Authority FINMA is incorporating two existing circulars on risk diversification at banks and securities firms into a new ordinance. In doing so it is fulfilling the requirement for the format compliance of regulation in accordance with Article 7 paragraph 1 of the Financial Market Supervision Act.
The new FINMA Ordinance on the Risk Diversification of Banks and Securities Firms (RDO-FINMA) replaces the previous Circulars 2013/7 “Limits on intra-group positions – banks” and 2019/1 “Risk diversification – banks”.
FINMA held a consultation on this ordinance from 3 July 2025 to 29 September 2025. The transfer was welcomed by the majority.
The few substantive changes were connected to the final Basel III reforms, which came into force on 1 January 2025 under the Federal Council’s Capital Adequacy Ordinance.
The new RDO-FINMA enters into force on 1 January 2027. FINMA Circulars 2013/7 and 2019/1 will be repealed at the same time.
