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Swiss regulator authorises fourth supervisory organisation

Maria Nikolova

FINMA has granted FINcontrol Suisse AG a licence as a supervisory organisation.

The Swiss Financial Market Supervisory Authority (FINMA) is granting FINcontrol Suisse AG a licence as a supervisory organisation. It is therefore authorising the fourth supervisory organisation under FinIA and FinSA. The licence is with effect from September 29, 2020.

The supervisory organisations will be responsible for the supervision of portfolio managers and trustees in the future. FINMA has also received a further licence application from supervisory organisations.

As FinanceFeeds has reported, FINMA has granted the Organisme de Surveillance pour Intermédiaires Financiers & Trustees (SO-FIT) a licence as a supervisory organisation with effect from August 11, 2020. In addition, the regulator is recognising SO-FIT as a self-regulatory organisation. SO-FIT’s application for a licence was submitted by the Organisme d’Autorégulation des Gérants de Patrimoine (OAR-G). SO-FIT will succeed OAR-G.

The Swiss regulator has also granted the Organisme de Surveillance des Instituts Financiers based in Geneva (OSIF) and the Organisation de Surveillance Financière based in Neuchâtel (OSFIN) licences as supervisory organisations (SOs) with effect from July 6, 2020. The organizations will be responsible for the supervision of portfolio managers and trustees.

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