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SFMA

Securities firms

The financial market legislation governing securities firms derives from one federal act one Federal Council ordinance and one SFMA ordinance.

  • Financial Institutions Act (FinIA)
  • Financial Institutions Ordinance (FinIO)
  • SFMA Financial Institutions Ordinance (FinIO-SFMA)
  • Insolvency 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.

SFMA Financial Institutions Ordinance (FinIO-SFMA)

This ordinance lays down more specific details on technical topics covered by the FinIA and the FinIO for portfolio managers, trustees, managers of collective assets, fund management companies and securities firms.