FINMA (Swiss Financial Markets Authority) – a Swiss service for supervision of financial markets, which is a government agency.

The activities of this organization is focused primarily on the protection of investors, creditors and policyholders, which guarantees equal rights to the financial markets, as well as to maintain the stability of the Swiss market and decent reputation.

Thus, FINMA indirectly contributes to the competitiveness of the financial sector in Switzerland. Since FINMA funded company that controls, the service is completely independent. Guarantor of the independence of the organization is and its structure, which employs about 350 people. Among them are experts in law, economics, mathematics, audit, accounting, investments, and actuarial activities.

.

FINMA powers to regulate the financial market

  1. FINMA has the right to set standards of financial activity.
  2. FINMA as a legislative body authorized to issue circulars and regulations.
  3. FINMA issues licenses to financial market participants, including brokers and dealing centers, oversees, as with license conditions.
  4. FINMA carries bankruptcy or restructuring, and is entitled to participate in the proceedings, which deals with insolvency, but the court must take into account that right.
  5. FINMA has the right to impose sanctions if necessary, or on the contrary to offer administrative assistance

The main functions of FINMA

  • against crime schemes - money laundering, which were obtained illegally, the financing of terrorism, corruption and organized crime
  • supervision of financial institutions, is based on the "dual control" - the part of services and departments FINMA and accredited audit firms. Based on the assessments created rating companies, which each has its place in one of the five "supervisory categories." Based on this distribution, and set the frequency and supervision order
  • evaluation and analysis of capital adequacy, which includes testing for various crisis scenarios
  • laying the foundation for an open, equitable and appropriate action for investors, implying oversight of exchanges on the basis of self-regulation, and monitoring on the basis of audit
  • control of compliance in the financial markets, laws, directives, decisions that affect this activity

FINMA license gives 30 points in the rating of Forex brokers