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:
“The image cannot be dispossessed of a primordial freshness, which idea can never claim. An idea is derivative and tamed. The image is in the natural or wild state, and it has to be discovered there, not put there, obeying its own law and none of ours. We think we can lay hold of image and take it captive, but the docile captive is not the real image but only the idea, which is the image with its character beaten out of it.”
—John Crowe Ransom (1888–1974)
“The law is simply expediency wearing a long white dress.”
—Quentin Crisp (b. 1908)
“Lots of white people think black people are stupid. They are stupid themselves for thinking so, but regulation will not make them smarter.”
—Stephen Carter (b. 1954)