Swiss Financial Watchdog Seeks Enhanced Enforcement Powers

FINMA calls for legal reforms to strengthen early intervention capabilities and introduce new executive liability measures

FINMA is formally requesting legislative changes to allow for early intervention when a bank's culture or risk management shows warning signs.
The regulator seeks the authority to impose fines and introduce a strict liability regime for senior executives.
FINMA is demanding the legal right to communicate publicly about its supervisory activities.
UBS is currently under heightened scrutiny as it integrates Credit Suisse.

30%

increase in reported cyber attacks

111

on-site bank inspections

inspections of UBS

enforcement inspections

"It does not simply want to issue more rules, but to be able to be more consistent in the event of a breach of the existing rules."
— Marlene Amstad

"When the board of directors and management of an institution do not consistently reflect (…) its core values and risk culture."
— FINMA Spokesperson

Demanding the Teeth to Bite

FINMA is formally requesting legislative changes to allow for early intervention when a bank's culture or risk management shows warning signs.
The regulator seeks the authority to impose fines and introduce a strict liability regime for senior executives.
FINMA is demanding the legal right to communicate publicly about its supervisory activities.
UBS is currently under heightened scrutiny as it integrates Credit Suisse.