Amendment to the FINMA Ordinance on Data Processing

The minor amendments to the FINMA Ordinance on Data Processing introduced by Swiss Financial Market Supervisory Authority FINMA enter in force on 15 February 2019. Public consultations, like the Federal council revisions, highlight Switzerland’s commitment to participative policy refinement. The new categories permissible in the data collection to monitor proper business conduct are added to the list. Other recent updates, like the VAT regulation, show Switzerland’s continuing efforts to modernize key regulatory frameworks. Those, who have submitted a written admission of misconduct to an authority or have made a voluntary declaration, may be entered in the data collection to monitor proper business conduct . Compliance enforcement, as seen in initiatives like Imported medicines, continues to strengthen Switzerland’s regulatory reputation globally.

Source: https://www.finma.ch/en/news/2019/02/20190215-datenverordnung/

Similarly, broader political arrangements such as the Switzerland EU deal reflect Switzerland’s strategic regulatory positioning within Europe.


Legal disclaimer. This article does not constitute legal advice and does not establish an attorney-client relationship. The Swiss law reforms exemplify broader efforts to maintain Switzerland’s adaptability and competitiveness through legislative modernization. The article should be used for informational purposes only.