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Over 1,000 Institutions Shun Swiss Regulator's License Application

Over 1,000 Institutions Shun Swiss Regulator's License Application

A total of 1,060 institutions comprising portfolio managers and trustees have notified the Swiss Financial Market Supervisory Authority (FINMA) that they will not be submitting a license application as required by the country’s Financial Institutions Act (FinIA) which came into force on January 1, 2020.

This is even as the three-year transitional period granted to these institutions under FinIA to fulfill the licensing conditions and submit a license application elapsed on December 31,... Read More

Posted: Jan 30 2023, 19:29
Author Name: financemagnates
Views: 111612

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