Federal Act on the Swiss Financial Market Supervisory Authority

¹The Fed­er­al Coun­cil shall is­sue the im­ple­ment­ing pro­vi­sions. In do­ing so, it shall ob­serve the prin­ciples of reg­u­la­tion in Art­icle 7 para­graph 2 and base its reg­u­la­tion on the ma­jor­ity of the su­per­vised per­sons or en­tit­ies at the time. The fore­go­ing is sub­ject to more strin­gent re­quire­ments, in par­tic­u­lar with re­gard to risks to the sta­bil­ity of the fin­an­cial sys­tem.

²The Fed­er­al Coun­cil may au­thor­ise FINMA in mat­ters of lim­ited im­port­ance, and in par­tic­u­lar in pre­dom­in­antly tech­nic­al mat­ters, to is­sue im­ple­ment­ing pro­vi­sions to this Act and to the fin­an­cial mar­ket acts.