Switzerland’s FINMA Names New Chair as Thomas Bauer Steps Down

Switzerland’s financial markets regulator is reshuffling its board of directors, adding Asian expertise to lead the supervisory authority’s activities after the term of current chief expires at the end of 2020.

The chair of FINMA’s board of directors, Thomas Bauer, is to step down at the end of the year, the Swiss market regulator said today. In his place, Marlene Amstad, vice-chair of the Swiss Financial Market Supervisory Authority, has been elected by the country’s Federal Council to replace Bauer as the regulator’s new chair effective January 2021.

Amstad is a professor at the Chinese University of Hong Kong and lecturer at the University of Bern and has been a member of the board since January 2016. She began her career as an economist with Swiss lender Credit Suisse before switching to the Bank for International Settlements (BIS) in Hong Kong, where she worked as an advisor from 2012 to 2015.

Amstad also served at the Swiss National Bank (SNB), originally as the head of investment strategy and financial market analysis. She was promoted to held several roles at the central bank until she rose to the rank of deputy director.

Swiss authorities are adding a seasoned Asia expert as they were eager to maintain a leading role for Switzerland in the cryptocurrency space while playing catch-up in its rapidly changing landscape. Earlier last year, FINMA released its Initial Coin Offering (ICO) Initial Coin Offering (ICO) An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Acco An Initial Coin Offering (ICO) is a kind of crypto token sale that is used as a method of fundraising, similar to an Initial Public Offering (IPO), in which stocks are sold to raise money for a company.In order to launch an ICO, a company simply needs to create a website, issue a token, and set a time and date for the sale. Investors buy ICO tokens in exchange for another cryptocurrency, like Bitcoin or Ethereum; after a set amount of time, they receive the tokens they purchased in the sale.Acco Read this Term) guidelines and classification of tokens and laid out a number of objectives as a part of its Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term-friendly agenda.

Speaking about the newest board member, Bauer said: “Today’s election paves the way for a smooth transition in the Chair of FINMA’s Board of Directors, guaranteeing continuity. For me personally the end of the year is a good time to pass on the baton after five fulfilling years as Chair and upon reaching retirement age.”