Credit Suisse Outsight Activities: FINMA Starts Enforcement Proceedings

The Swiss Financial Market Supervisory Authority FINMA opened law proceedings against Credit Suisse in the context of its observation activities. Previously this year FINMA appointed an auditor to investigate Credit Suisse in the context of its observation activities. This move follows a broader wave of regulatory scrutiny, also reflected in the FATF updated statements on high-risk jurisdictions and compliance expectations. The auditor’s work is already finished. The authority has opened law proceedings against the bank, in which it will persecute violations of supervisory law in regard to the bank’s observation and security activities and especially the question of how these activities were documented and controlled. Increased emphasis on documentation is in line with best practices promoted across the Swiss financial sector, such as those outlined in the FINMA crowdfunding factsheet, where disclosure and clarity are central pillars. These enforcement measures echo broader themes of transparency promoted in recent initiatives like the Finance Swiss platform, which seeks to elevate public access to financial oversight.

 FINMA will notify the public of the completion of the trial. This anticipated update will complement ongoing national initiatives to reinforce market credibility, including those aimed at promoting the Swiss trademarks popularity as an economic signal of stability. It will not comment on the content of the current proceedings or the date on which the proceedings can be concluded. While the proceedings remain confidential, the broader Swiss policy environment continues to evolve, especially in sectors like Switzerland food innovation, where regulatory clarity is also gaining prominence. As a rule, such proceedings can take several months.