Compliance Corner: FINMA

Editorial Staff, 6 April 2020


A regular round-up of compliance news, such as fines, permissions, new technology solutions to make tracking risks easier, and other developments.

The Swiss financial regulator FINMA has reported that its operating costs rose slightly in 2019, up SFr4 million ($4.09 million) to SFr123 million from a year before. 

The watchdog, which like others worldwide, is now holding meetings remotely because of the COVID-19 pandemic, said its cost uptick last year was due to the particularly low costs in 2018 resulting from employee pension benefit adjustments. 

The operating costs were covered by income from supervisory fees and levies. The average number of full-time equivalent positions at the authority was 465 in 2019. This number has hardly changed since 2012, FINMA said.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes