Finma Guidance

July 24, 2021

The Financial Market Supervisory Authority FINMA has observed a marked increase in initial coin offerings ICOs conducted in Switzerland. FINMA has also indicated that it is investigating a number of ICO cases to determine whether regulatory provisions have been breached.

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On 4 December 2020 FINMA published its Guidance 102020 in which it recommends supervised institutions such as banks securities firms and.

Finma guidance. FINMA Guidance 102020. FINMA published new guideline on regulating ICO The Swiss Financial Market Supervisory Authority FINMA published a plan that examines and contains information on the ways means and methods of applying financial market legislation by the organization when considering requests from organizers of ICO. In August of 2019 FINMAs guidance on Payments on the Blockchain lowered the KYC Know-Your-Customer reporting requirement from 5000 CHF to 1000 CHF.

It has today therefore issued FINMA Guidance 042017 on this topic. On May 19 the Swiss Financial Market Supervisory Authority FINMA published further Guidance 062020 in the context of the COVID-19 situation providing some changes to the exemptions implied to the phases and clarified how the net stable funding ratio NSFR is calculated. As a result the legal requirement was met for FINMA to be able to recognise trading venues in the United Kingdom.

022019 FINMA Guidance Payments on the Blockchain Download PDF. The Swiss Financial Market Supervisory Authority FINMA recommends that supervised institutions affected by the replacement of LIBOR sign the new Fallbacks Protocol published by the International Swaps and Derivatives Association ISDA as soon as possible. Duty to report the cyber attacks.

The purpose of FINMA Guidance 102020 is to clarify FINMAs recommendations to the affected supervised institutions and market participants and to ensure that they use the remaining time until the end of. FINMA defines the minimum information it requires to process such requests and the principles it. Stringent approach to combating money laundering on the blockchain.

FINMA recommends that the affected supervised institutions follow this in order to be as prepared as they can possibly be for a discontinuation of LIBOR in various currencies. Implementation Guidance for Public Offerings Subject to FINRA Rule 5110 Participating members as defined in Rule 5110 must comply with amended Rule 5110 beginning on September 16 2020 the Implementation Date1 The amended Rule will apply notwithstanding when the offering was filed or declared effective or when a participating member received a No Objections Letter. This step subsequently followed on 3 February 2021 for various trading venues in the UK.

The purpose of FINMA Guidance 102020 is to clarify FINMAs recommendations to the affected supervised institutions and market participants and to. Following the revision of its recommendations within which FATF specified the application of the travel rule to VA transactions the Swiss regulator through FINMA Guidance 022019 Payments on the blockchain 26 August 2019 FINMA Guidance provided its position that concerns financial service providers supervised by it. LIBOR replacement for derivatives.

On 4 December 2020 the Swiss Financial Market Supervisory Authority FINMA published a transition roadmap for LIBOR FINMA Guidance 102020. FINMA plans to publish at some point in 2019 special guidance that will provide market participants with greater details regarding supervisory requirements related to the use of cloud services. In the guidelines published on February 16 2018 the Swiss Financial Market Supervisory Authority FINMA outlines how it will deal with requests for supporting the initial coin offerings on the basis of existing financial market law.

FINMA Guidance 082020. LIBOR transition roadmap The Swiss Financial Market Supervisory Authority FINMA today published a transition roadmap for LIBOR. In the Guidance FINMA reaffirms its technology neutral approach to regulation and states in particular that operators of blockchain-based business models cannot be allowed to circumvent the existing regulatory framework.

FINMA has published guidance on this topic as well as the updated list of recognised trading venues.

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