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CryptoCurrency

FINMA Issues Guidance on Stablecoin Risks and Default Guarantees

  • Increased risks with stablecoins includes money laundering and reputational issues.
  • Some issuers avoid banking licenses by using bank guarantees, which raises risks.
Friday, 26/07/2024 | 10:55 GMT by Tareq Sikder
Retail FX

FlowBank’s Shareholder Says FINMA’s Decision “Violated Its Rights”

  • The Swiss regulator initiated bankruptcy proceedings against the online broker on 13 June.
  • The shareholder is now considering taking “all necessary procedures.”
Monday, 24/06/2024 | 07:18 GMT by Arnab Shome
Retail FX

FlowBank Enters Bankruptcy Proceedings Following FINMA Decision

  • Clients with Swiss account deposits will receive up to CHF 100,000 in reimbursement.
  • All contracts including financial agreements, are terminated immediately.
Thursday, 13/06/2024 | 13:13 GMT by Tareq Sikder
Regulation

Regulator's Three-Year Concerns Lead to This Trading Firm's Bankruptcy Proceedings

  • FINMA has initiated bankruptcy proceedings against FlowBank, a Swiss online broker.
  • The bank failed to maintain minimum capital requirements and potential over-indebtedness
Thursday, 13/06/2024 | 08:29 GMT by Damian Chmiel
Executives

Swiss FINMA Taps Stefan Walter, Ex-ECB Chief, as New CEO

  • Stefan Walter will assume office on April 1, 2024.
  • Last year, FINMA's CEO, Urban Angehrn, resigned from his position, citing health reasons.
Wednesday, 24/01/2024 | 12:20 GMT by Jared Kirui
Institutional FX

FINMA Aligns Derivatives Rules with EU, UK: Extends Transitional Period for Equity Options

  • This extension for equity options lasts until January 2026.
  • It aims to prevent Swiss derivatives traders from facing disadvantages.
Wednesday, 20/12/2023 | 15:33 GMT by Jared Kirui
Institutional FX

Credit Suisse Under Scrutiny: FINMA Report Exposes Regulatory Gaps

  • The authority conducted 43 investigations, issuing nine reprimands and filing 16 criminal charges.
  • Credit Suisse was rescued by UBS under authorities' deal amid risk management failures.
Tuesday, 19/12/2023 | 13:39 GMT by Tareq Sikder
CryptoCurrency

Kraken Dives into Traditional Markets: Targets US Stocks and ETFs

  • The move comes as crypto firms aim to diversify services after a challenging year.
  • Kraken holds a regulatory license in the UK and has applied for a broker-dealer license in the US.
Wednesday, 27/09/2023 | 20:50 GMT by Jared Kirui
FinTech

30 Swiss Banks Flunk FINMA's Money Laundering Risk Analysis Review

  • The Swiss financial watchdog found "a lack of various structural elements."
  • On Thursday, the supervisory authority published guidance on the topic.
Thursday, 24/08/2023 | 22:17 GMT by Solomon Oladipupo
Institutional FX

Swiss FINMA Licensing Surge: 950 Portfolio Managers and Trustees Get the Green Light

  • The regulator received 1,749 license applications as of June 30.
  • The licensing process involves registration, application preparation, and supervision confirmation.
Friday, 18/08/2023 | 15:53 GMT by Jared Kirui
Retail FX

News Nuggets | 5 April: BUS Offers Interest; FINRA Warns against Phishing

  • Also FINMA, Eventus, and PostFinance.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 05/04/2023 | 09:10 GMT by Finance Magnates Staff
Op-ed
Op-ed
FinTech
Op-ed
Op-ed

The Fall of Credit Suisse Gives Wings to PSD2

  • The directive that regulates the field of electronic money institutions is the cornerstone of open banking licensing.
  • The collapse of Credit Suisse has similar indicators in the US to Silvergate and Silicon Valley Bank.
Tuesday, 04/04/2023 | 08:26 GMT by Ella Rosenberg
Institutional FX

Swiss Crisis: Credit Suisse Borrows CHF 50B to Escape Liquidity Troubles

  • The bank's shares dipped around 30 percent on Wednesday.
  • Swiss authorities offered the emergency liquidity lifeline to avoid any bank crisis.
Thursday, 16/03/2023 | 06:37 GMT by Arnab Shome
Institutional FX

FINMA Concludes Proceedings in $10b 'Greensill' Case against Credit Suisse

  • The Swiss regulator investigated the lender's relationship with Lex Greensill and his funds.
  • The funds were launched in 2017 and closed four years later.
Tuesday, 28/02/2023 | 11:26 GMT by Damian Chmiel
FinTech

Swiss Fintech Klarpay Ends 2023 with "Substanial Annual Profit"

  • The company did not provide exact financial figures.
  • However, it reports profitability has been achieved after just 6 months since the start.
Tuesday, 14/02/2023 | 10:06 GMT by Damian Chmiel
FinTech

Over 1,000 Institutions Shun Swiss Regulator's License Application

  • The Swiss regulator received 1,699 FinIA license applications in 2022 and granted 670.
  • FINMA says unlicensed portfolio managers and trustees may be fined as high as CHF 250K.
Monday, 30/01/2023 | 19:29 GMT by Solomon Oladipupo
CryptoCurrency

Swiss Regulator Rejected FTX Europe's Trading License Application

  • FTX did not reveal anything officially due to the conditions of the application.
  • The Cypriot regulator suspended FTX's license earlier this month.
Monday, 21/11/2022 | 08:02 GMT by Arnab Shome
News

Regulator Advises Being More Proactive in Protecting Crypto Investors

  • The CEO of the Swiss FINMA asked regulators to protect investors from abusive practices.
  • The UK's FCA recently issued an advisory note about the risks of investing in cryptos.
Wednesday, 22/06/2022 | 21:19 GMT by Felipe Erazo
Executive Moves

FINMA Executive Board Welcomes Marianne Bourgoz Gorgé and Alain Girard

  • Both executives will take up their respective roles on August 1 and September 1, 2022.
  • Jan Blöchliger and Rupert Schaefer will leave FINMA.
Wednesday, 15/06/2022 | 15:26 GMT by Felipe Erazo
Executive Moves

Urban Angehrn Becomes New CEO of FINMA

  • Angehrn takes the new role from Jan Blöchliger.
Monday, 01/11/2021 | 09:32 GMT by Bilal Jafar
Executive Moves

Dr Alberto Franceschetti and Marzio Hug Join FINMA’s Board of Directors

  • The financial industry veterans will replace Franz Wipfli and Bernard Keller on the Board.
Wednesday, 20/10/2021 | 21:53 GMT by Felipe Erazo
Institutional FX

Credit Suisse Spied on 7 Executives: FINMA

  • The bank earlier admitted surveillance on two former executives.
Wednesday, 20/10/2021 | 08:45 GMT by Arnab Shome
Regulation

Regulators Take Actions against Credit Suisse on Mozambique Loan Case

  • The UK FCA imposed a $200 millionaire fine as a result of the findings.
Tuesday, 19/10/2021 | 21:51 GMT by Felipe Erazo
News

FINMA Approves First Swiss Cryptocurrency Fund

  • The authority announced the approval of the ‘Crypto Market Index Fund’.
Wednesday, 29/09/2021 | 10:21 GMT by Bilal Jafar
News

SEBA Bank Gains Custodian License from FINMA

  • It has become the first Swiss custodian bank focused on digital assets.
Wednesday, 29/09/2021 | 04:00 GMT by Arnab Shome
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