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FINMA Snapshot
While the international community is putting its money in Swiss banks, the Swiss government is putting its money on its recently formed regulatory agency. FINMA is an independent government authority that supervises and regulates banks, insurance companies, stock exchanges, and other financial-related organizations in Switzerland. It was formed in late 2008 from the merger of three agencies: the Swiss Federal Banking Commission, the Federal Office of Private Insurance, and the Anti Money Laundering Control Authority. The formation was a response to the 2008 global financial crisis and was part of an effort to revamp the country's financial regulatory system.
