Law and Regulation
The Swiss Financial Market Supervisory Authority (FINMA) is a public law institution that supervises most banking-related activities as well as securities markets and investment funds. Regulatory authority is derived from the Swiss Financial Market Supervision Act (FINMASA) and Article 98 of the Swiss Federal Constitution.
The office of the Swiss Banking Ombudsman, founded in 1993, is sponsored by the Swiss Banking Ombudsman Foundation, which was established by the Swiss Bankers Association. The ombudsman's services, which are offered free of charge, include mediation and assistance to persons searching for dormant assets. The ombudsman handles about 1,500 complaints raised against banks yearly.
Read more about this topic: Banking In Switzerland
Famous quotes containing the words law and, law and/or regulation:
“Without doubt God is the universal moving force, but each being is moved according to the nature that God has given it.... He directs angels, man, animals, brute matter, in sum all created things, but each according to its nature, and man having been created free, he is freely led. This rule is truly the eternal law and in it we must believe.”
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