Drucken
Artikel, Notizen und Markierungen werden geladen... Bitte um etwas Geduld.

Federal Act
on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading
(Financial Market Infrastructure Act, FinMIA)

Art. 40 Authorisation of Foreign Participants

1 FINMA shall grant au­thor­isa­tion to a for­eign par­ti­cipant wish­ing to par­ti­cip­ate in a Swiss trad­ing ven­ue but which has no re­gistered of­fice in Switzer­land:

a.
if it is sub­ject to ap­pro­pri­ate reg­u­la­tion and su­per­vi­sion;
b.
if it ob­serves a code of con­duct and re­cord-keep­ing and re­port­ing du­ties equi­val­ent to the du­ties set out in Swiss reg­u­la­tions;
c.
if it en­sures that its activ­it­ies are sep­ar­ate from the activ­it­ies of any au­thor­ised Swiss units; and
d.
if the com­pet­ent su­per­vis­ory au­thor­it­ies:
1.
do not have any ob­jec­tions to the par­ti­cipant's activ­ity in Switzer­land,
2.
provide FINMA with ad­min­is­trat­ive as­sist­ance.

2 FINMA may re­ject au­thor­isa­tion if the state in which the for­eign par­ti­cipant has its re­gistered of­fice does not grant Swiss par­ti­cipants ac­tu­al ac­cess to its mar­kets or does not of­fer them the same com­pet­it­ive op­por­tun­it­ies as those gran­ted to do­mest­ic trad­ing par­ti­cipants. Any de­vi­at­ing in­ter­na­tion­al com­mit­ments are re­served.

3 A for­eign par­ti­cipant that already par­ti­cip­ates in a Swiss trad­ing ven­ue shall in­form FINMA if it wishes to par­ti­cip­ate in an­oth­er Swiss trad­ing ven­ue. In this case, the for­eign su­per­vis­ory au­thor­ity has to con­firm that it has no ob­jec­tion to the ex­pan­sion of the for­eign par­ti­cipant's activ­ity in Switzer­land.

4 FINMA au­thor­isa­tion is not re­quired for par­ti­cip­a­tion in mon­et­ary policy trans­ac­tions with the SNB.