FINMA Concludes Enforcement Proceedings Against Two Swiss Firms
The Swiss regulator has withdrawn a fund management licence, rejected a portfolio manager application, and confiscated illegal profits following serious FinSA breaches.
The Swiss Financial Market Supervisory Authority (FINMA) has concluded enforcement proceedings against two institutions and one individual for serious breaches of the rules of conduct governing the provision of financial services under the Financial Services Act (FinSA).
To restore compliance with the law and protect investors, FINMA ordered various administrative measures. The regulator withdrew the licence of Swiss Fund Management AG in liquidation to manage funds. Furthermore, an application by BZ Berater Zentrum AG for authorisation as an independent portfolio manager was rejected.
In addition to the licensing measures, FINMA confiscated millions in illegally generated profits from the respondents and imposed a multi-year industry ban on one of the responsible individuals. The regulatory actions aim to enforce strict adherence to conduct rules within the Swiss financial services sector.
Sophie covers currency markets and central bank policy across Europe, with a focus on how rate decisions ripple through FX pairs. She has been tracking the ECB's policy path since the start of the current easing cycle.
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