Legal basis for market infrastructures and markets
Financial market law governing the supervision of market infrastructures and markets derives from two federal acts, three Federal Council ordinances, two SFMA ordinances, one takeover Ordinance and one set of regulations.
- Financial Market Infrastructure Act (FinMIA)
- Financial Market Infrastructure Ordinance (FinMIO)
- SFMA Financial Market Infrastructure Ordinance (FinMIO-SFMA)
- Financial Institutions Act (FinIA)
- Financial Institutions Ordinance (FinIO)
- Capital Adequacy Ordinance (CAO)
- Takeover Ordinance (TOO)
- Regulations-TB (R-TB)
- Insolvency Ordinance
Financial Market Infrastructure Act
This act regulates financial market infrastructures and derivatives trading.
Financial Market Infrastructure Ordinance
This ordinance details a number of provisions set out in the Financial Market Infrastructure Act.
SFMA Financial Market Infrastructure Ordinance (FinMIO-SFMA)
This SFMA ordinance elaborates on the provisions set out in the Financial Market Infrastructure Ordinance.
Financial Institutions Act (FinIA)
The Financial Institutions Act lays down the requirements for financial institutions' activities (portfolio managers, trustees, managers of collective assets, fund management companies and securities firms). Various forms of securities trading require SFMA authorisation.
Financial Institutions Ordinance (FinIO)
FinIO governs the authorisation of, and organisational requirements for, supervised financial institutions.
Capital Adequacy Ordinance
Applicable to banks and securities firms, this ordinance sets out that these institutions are required to keep sufficient capital available for the business they conduct, the risks they enter into, as a result limiting their risks accordingly.
Takeover Ordinance
This ordinance specifies how integrity and transparency are to be assured in public takeover offers as well as the equal treatment of investors.
Regulations of the Takeover Board
These regulations define the organisation of the Takeover Board.
Insolvency Ordinance
The Insolvency Ordinance specifies the restructuring and bankruptcy proceedings as set out in the Banking Act, the Insurance Supervision Act and the Collective Investment Schemes Act for all financial market institutions falling under SFMA's insolvency jurisdiction under the financial market laws.