BANKENVERORDNUNG SCHWEIZ PDF

5 Die Schweizerische Nationalbank und die Pfandbriefzentralen fallen nur soweit sinngemäss Anwendung auf die von ausländischen Banken in der Schweiz. Nov. Auswirkungen auf den Wirtschaftsstandort Schweiz und den . Februar zur Änderung der Bankenverordnung (FinTech-Vorlage ;. Auswirkungen auf den Wirtschaftsstandort Schweiz und den Wettbewerb . 16 . In der Schweiz deuten die seit der Inkraftsetzung des TBTF-.

Author: JoJogul Kagagal
Country: Sierra Leone
Language: English (Spanish)
Genre: Sex
Published (Last): 4 September 2004
Pages: 466
PDF File Size: 1.49 Mb
ePub File Size: 13.63 Mb
ISBN: 548-2-19774-198-7
Downloads: 5530
Price: Free* [*Free Regsitration Required]
Uploader: Mesida

FINMA – Representative offices of foreign banks

The licensing process for a representative office of a foreign bank normally takes about three months, but the duration depends on the quality and complexity of the application. This extension became possible because crowdlending will be subject to the Consumer Credit Act in the future. However, they must submit an annual report for the foreign bank they represent to FINMA within four months after the financial year ends.

Banks and securities dealers Getting licensed Representative offices of foreign banks. In schwdiz BankO, the sandbox will additionally be extended to include crowdlending business models, whereby public funds up to a total amount of CHF 1 million can one day be brokered not only for commercial and industrial purposes but also for private consumption.

As it will take time to implement these rules, the changes to consumer credit law and the associated amendment of the BankO will not come into force until 1 April The time it takes to receive a response from the responsible foreign supervisory authorities must also be taken into account. Those in charge of the representative office bajkenverordnung assure proper business conduct.

  BOBRICK B-207 PDF

The most important are: The country of domicile of the foreign bank and all qualified participants must guarantee reciprocal rights. Contact for questions on the licensing process The Authorisation section of the Banks division authorization finma. During its meeting on 30 Novemberthe Federal Council brought into force a corresponding amendment to the Banking Act to promote innovation fintech.

Representative offices of foreign banks

You can submit your own here http: The Authorisation section of the Banks division authorization finma. The most important are:.

Representative offices bankenverrordnung foreign banks and securities dealers must meet a number of licensing requirements to obtain authorisation from FINMA. A foreign bank needs to be authorised by FINMA if it employs staff in Switzerland who, on a professional basis, permanently represent it for advertising or other purposes in or from Switzerland, including in particular forwarding client orders to it, but do not carry out transactions or manage client accounts for the foreign bank that give rise to legal obligations.

For a foreign bank to obtain a licence to open a representative office, there hankenverordnung be no doubt that the applicant and the representative office meet or can meet all of the licensing requirements. The foreign bank must be subject to appropriate supervision The responsible foreign supervisory authorities must not have raised any objections to the opening of a representative office. Licensing requirements For a foreign bank to obtain a licence to open a representative office, there must be no doubt that the applicant and the bankeverordnung office gankenverordnung or can meet all of the licensing requirements.

In Februarythe Federal Council put three measures out for consultation to promote innovation in the financial sector and to remove barriers to market entry for fintech firms. Moreover, crowdlending should be possible also for private consumption within the authorization-exempt area of the sandbox. With the new measure, companies with special authorisation can accept public funds of up to CHF million from 1 Januaryprovided they neither invest nor pay interest schwweiz these funds.

  2N3955 DATASHEET PDF

Guidelines for licence applications for branches and representative offices of foreign banks and securities dealers in Switzerland Updated: Representative offices of foreign banks. The responsible foreign supervisory authorities must not have raised any objections to the opening of a representative office. Any company organised under foreign law that either holds a banking licence abroad, uses the term “bank” or “Banking” in its name, the description of its purpose or its business documentation or conducts banking business as defined nankenverordnung Article 2a of the Banking Ordinance is considered as a foreign bank.

Duration of the licensing process The licensing process for a representative office of a foreign bank normally takes about three months, but the duration depends on the quality and complexity of the application. Two of these — the extension of the holding period for settlement accounts and an authorisation-exempt innovation area sandbox — have already been regulated at ordinance level in the meantime and came into force on 1 August It is now possible for the third measure — a new authorisation category with simplified requirements in the Banking Act — to come into force on 1 January Representative offices bankennverordnung foreign banks are not subject to prudential supervision.