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Federal Act on the Swiss Financial Market Supervisory Authority

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.

Art. 32 Declaratory ruling and substitute performance

1Where the pro­ceed­ings re­veal that the su­per­vised per­son or en­tity has ser­i­ously vi­ol­ated su­per­vis­ory pro­vi­sions, but there is no longer a need to or­der meas­ures to re­store com­pli­ance with the law, FINMA may is­sue a de­clar­at­ory rul­ing.

2If an en­force­able rul­ing from FINMA is not ob­served with­in the set dead­line after a pri­or warn­ing, FINMA may per­form the re­quired act it­self or have it per­formed at the ex­pense of the de­fault­ing party.2

1 Amended by An­nex No II 16 of the Fin­an­cial In­sti­tu­tions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).
2 In­ser­ted by An­nex No II 16 of the Fin­an­cial In­sti­tu­tions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).