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The fight against unauthorised providers

As an independent supervisory authority, FINMA’s mandate is to protect creditors, investors and insured persons against the consequences of a company becoming insolvent, unfair commercial practices or unequal treatment. At the same time, FINMA is responsible for ensuring that the financial markets continue to function effectively.

To fulfill this legal mandate, it supervises authorised institutions, including banks, stock exchanges and other financial market infrastructures, wealth managers, securities firms, funds such as collective investment schemes, and insurance companies. Other professional financial services providers, such as credit and leasing companies, are only supervised with regard to the prevention of money laundering. 

FINMA launches dozens of investigations into unauthorised financial service providers every year. FINMA takes action against providers in the event of violations of supervisory law. Tips provided by the public as well as information from the FinSA Register of Advisers, the FinIA Supervisory Organisations, the MLA Self-regulatory Organisations and the FinSA Ombudsman Offices help FINMA protect clients and authorised providers from unfair competition in the financial sector.

For further information regarding FINMA’s role in fighting unfair competition in the financial market, please consult FINMA’s website.