SFMA’s policies on communication, enforcement and regulation

To ensure transparency, SFMA has issued policies in three areas which are particularly relevant to members of the public: communication, enforcement and regulation.

As an independent authority, SFMA must act in the public interest. The majority of SFMA’s actions are documented clearly, rendering its decision-making transparent. SFMA’s Board of Directors has issued guidelines and policies on communication, enforcement and regulation.

Communication policy

Article 9 para. 1 let. i SFMA Act states that SFMA’s Board of Directors is tasked with issuing "guidelines on information activities". SFMA’s communication policy establishes the framework for its communications with the public and is divided into two parts: communications on general supervisory and regulatory topics, and communications on individual companies and persons.

Enforcement policy

One of SFMA’s tasks is to enforce supervisory law using, when required, the coercive instruments provided. SFMA uses enforcement proceedings against supervised institutions in a targeted and risk-oriented manner. The principles governing these proceedings are set out in SFMA’s enforcement policy.

Regulation policy

To ensure transparency of the regulation process and appropriate involvement of all stakeholders, SFMA has issued guidelines on financial market regulation. These guidelines stipulate that interested parties must be informed regularly and in good time about regulatory projects which are planned or pending. In addition, SFMA opens up draft regulations and explanatory reports for public consultation, giving all stakeholders the opportunity to express their views.