Ordinance
on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading
(Financial Market Infrastructure Ordinance, FinMIO)

Art. 25 Approval of regulations

(Art. 27 para. 4 Fin­MIA)

1 When ap­prov­ing reg­u­la­tions, FINMA shall re­view in par­tic­u­lar wheth­er these:

a.
en­sure trans­par­ency and the equal treat­ment of in­vestors; and
b.
en­sure the prop­er func­tion­ing of the se­cur­it­ies mar­kets.

2 FINMA may con­sult the Com­pet­i­tion Com­mis­sion be­fore mak­ing its de­cision. The lat­ter shall give its opin­ion on wheth­er the reg­u­la­tions are neut­ral in terms of com­pet­i­tion and are con­du­cive to anti-com­pet­it­ive ar­range­ments or not.

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