FINMA Ready for Launch
Bern, 9.12.2008 - The new Swiss Financial Market Supervisory Authority (FINMA) will commence operations on 1 January 2009. On that date, the Federal Act on the Swiss Financial Market Supervisory Authority (FINMASA), which the Swiss Parliament approved on 22 June 2007, will go into full legal force. The effect of the Act is to merge three bodies – the Federal Office of Private Insurance (FOPI), the Swiss Federal Banking Commission (SFBC) and the Anti-Money Laundering Control Authority – into the Swiss Financial Market Supervisory Authority FINMA. Until their merger and incorporation into FINMA, these three authorities will retain responsibility for their own areas of activity.