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Compliance Corner: FINMA
6 April 2020
The Swiss financial regulator 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.