The Swiss Financial Market Supervisory Authority (FINMA) plays a crucial role in protecting investors and maintaining the integrity of Switzerland’s financial markets.
Among its many functions, FINMA issues a warning list—a vital resource for anyone considering financial services in Switzerland. This list flags companies and individuals potentially operating without authorization and not under FINMA’s supervision.
Understanding this list is essential to avoid falling prey to unauthorized or fraudulent services. Beware of Unauthorized Financial Services in Switzerland. For more information do not hesitate to contact us at connect@swissfintechpro.com
FINMA’s authorization is mandatory for many financial services. The authority actively investigates providers suspected of operating without this authorization. Based on the findings, FINMA can initiate enforcement proceedings, imposing measures that may lead to the shutdown of these entities.
This segment includes entities falsely claiming Swiss registration. If a company is not registered, these companies cannot hold a FINMA license or permission to offer financial services. As of the latest update, 1,342 companies are posing as Swiss financial service providers without proper registration.
Even if a company is registered in the commercial registry, it might still operate illegally by offering financial services without a FINMA license. Currently, 178 Swiss companies are illegally providing financial services.
FINMA also publishes names of individuals who have faced adverse rulings. To date, 30 persons are listed, highlighting their non-compliance with regulatory standards.
Conclusion
FINMA’s warning list is an essential tool for due diligence in the Swiss financial marketplace. You must only engage with a financial service provider if you are sure that they are not only registered but also licensed to operate. This vigilance can protect you from unauthorized services and potential financial harm. Stay informed and stay safe. Beware of Unauthorized Financial Services. For more information do not hesitate to contact us at connect@swissfintechpro.com
