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In its Guidance 01/2024, FINMA is publishing information on the status of the licensing process and supervision for portfolio managers and trustees. The Guidance also sets out a new approach to thresholds for operating as a trustee on a commercial basis.
Die Finanzmarktaufsicht Finma hat bis Ende des vergangenen Jahres insgesamt 1149 Bewilligungsgesuche für Vermögensverwalter und Trustees genehmigt. Das entspricht 70 Prozent der erhaltenen Gesuche.
In a new circular, the FINMA sets out its supervisory practice on the management of nature-related financial risks. It does so in line with the recommendations of international standard-setters. The circular will only apply to banks and insurers. The public consultation on this will run until 31 March 2024.
Switzerland ranks sixth in Transparency International’s 2023 Public Sector Corruption Perceptions Index. It scored 82 out of 100 points and, according to the organisation, has made no progress in the fight against corruption. High scores indicate a low susceptibility to corruption.
More than 4 years after the FATF extended AML/CTF to virtual assets, only 35 jurisdictions have passed the so-called Travel Rule. Switzerland was one of the first jurisdictions to clarify the applicable requirements through the FINMA.
Durch die Blockchain- Technologie entstehen neue Formen dezentraler Transaktionsabwicklung, welche pro- grammgesteuert und selbstausführend sind. Sie sind kom- plett Blockchain-basiert und schaffen neue Möglichkeiten sowie Herausforderungen.
Many Swiss companies have to comply with ESG reporting and due diligence requirements on non-financial topics, conflict minerals and child labor since 2023. The ESG Risk Monitor supports companies with various digital tools in ESG analysis along the entire value chain, efficient ESG data management and ESG reporting.
Art. 964a-c of the Swiss Code of Obligations relate to reporting obligations for ESG matters for large Swiss companies and apply from calendar year 2023 with reporting requirement for the first time in 2024.
In addition, as of 2024 onwards (reporting year 2025), such companies need to report on climate related matters.
FINMA News keeps you up to date with the latest information and updates by the FINMA, SECO and WBF. You can filter for sanction updates, news’ items and information by sector or category, or arrange them by year.
Tthe Federal Council decided to put the revised Collective Investment Schemes Act and the amended Collective Investment Schemes Ordinance into force per 1.3.2024. This creates the legal basis for Limited Qualified Investor Funds which help to increase the attractiveness and innovation capacity of the Swiss fund location.
Around 60 people at the FINMA are now directly or indirectly responsible for the supervision of the major bank UBS, The regulatory authority will not only merge the teams that previously supervised the two banks but will also boost their numbers.
Trotz der Regulierungsbemühungen nach der Finanzkrise 2008 scheinen die Großbanken immer noch eine staatliche Garantie zu haben. Die Regierung plant, in diesem Frühjahr Reformvorschläge für die Bankenregulierung vorzulegen.
New rules to ensure transferred funds arrive immediately into the bank accounts of retail customers and businesses across the EU were adopted recently. They aim to make sure that retail clients and businesses, especially SMEs, will not have to wait for their money, as well as to enhance the safety of transfers. Banks and other payment service providers will have to ensure credit transfers are affordable and immediately processed.
In the coming year, the payments industry will be confronted with high levels of risk, intensifying regulatory scrutiny, and significant changes in global standards.
The EU's comprehensive crypto guidance does not introduce entirely new regulations for fiat backed stablecoins, former central banker Jón Egilsson writes. Instead it affirms existing rules that many current issuers are not yet following.
A move to expand regulatory oversight over hedge funds and market makers could also rope in AMMs, experts say. But if these protocols cannot comply, is it really a threat?
A new paper by industry trade group Swiss Fintech Innovations shares the association’s forward looking vision for the coming ten years in the digital asset industry, exploring the concept of “tokenized finance” and detailing ways and recommendations to create a financial system that’s more inclusive, transparent and efficient than the traditional financial system.
Lawmakers in the European Parliament voted to adopt a new anti-greenwashing law banning a series of commercial practices, including the use of unproven generic product claims such as “environmentally friendly,” or “climate neutral,” or marketing a product as having a reduced environmental impact based on the use of emissions offsetting schemes.
Lawmakers in the European Parliament and Council announced that they have reached a provisional agreement on the Net Zero Industry Act, a new regulation aimed at scaling up clean technology industrial capabilities and capacity across Europe.
The International Ethics Standards Board for Accountants (IESBA) announced the release of its new proposed standards for ethical considerations in sustainability reporting and assurance, aimed at mitigating greenwashing and elevating the quality of reported sustainability information.
The European Banking Authority EBA announced the launch of a consultation on new proposed guidelines, setting out requirements for banks to identify, measure, manage and monitor ESG risks, including setting plans to address risks arising from the EU’s transition to a climate-neutral economy.
Das Europäische Parlament und der Rat haben am 05.02. eine erste vorläufige Entscheidung zur Regulierung von ESG-Ratings getroffen. Doch was genau sind ESG Ratings? Und in welche Richtung geht die Regulierung?
The term “ESG” has steadily faded from the investor and corporate lexicon over the past year in the wake of cultural and political clashes over its meaning and purpose. “Anti-ESG” legislation adopted by several states has created legal and financial hurdles around the term. As boards and management navigate toward a post-ESG era, we have summarized below some key principles and practical considerations to keep in mind:
The French government announced that two billion euros in state-guaranteed green loans will help businesses adapt to global warming. These green loans can be used for adaptation - financing, for example, a water reuse circuit, better building insulation or a system for detecting surrounding forest fires - but also for climate change mitigation.
What is the link between changes in ESG scores and future stock performance? The question is a critical one as investors and firms are increasingly mindful that ESG issues can have a material impact on corporate value creation. The need to identify material ESG issues has fostered an ecosystem of standard-setting organizations, rating agencies, and index providers.
Environment, Social und Governance – etliche Unternehmen müssen jetzt ihre Nachhaltigkeit erfassen. Wir zeigen, wen es betrifft und welche Tools sich lohnen.
Drogen, Geldwäsche, Steuerbetrug: Mafia-Mitglieder in Deutschland haben 2022 rund 2,3 Millionen Euro mit Verbrechen verdient. Sichergestellt wurden nur 683.000 Euro.
The Treasury Department assessed a $100,000 civil penalty on Asre and banned him from participating in any financial institution's affairs for five years.
Federal prosecutors announced charges against a German businessman, alleging he scammed investors out of more than $150 million in a crypto fraud scheme.
The key takeaway for numerous crypto entrepreneurs and investors on X was no mention of Bitcoin, crypto or stablecoins in the Nasdaq report on financial crimes.
Wann:29.02.2024 @ 14h, auf Deutsch Themen:Warum sind Sanktionen wichtig?, Geschichte von Sanktionen und Embargos, Unterscheidung zwischen Handelssanktionen & Finanzsanktionen, Taktiken zur Vermeidung von Finanzsanktionen, Die zentrale Rolle von Banken bei der Umsetzung von Sanktionen, Analyse der EU-Sanktionen gegen Russland
The European fintech industry witnessed a considerable pullback in 2023, with fintech investment declining by a significant 70% year-on-year in the first half of 2023 to reach a mere EUR
The post Top 20 Fintech Events to Attend in Europe in H1 2024 appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
Fintech Schweiz, 30.01.2024
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