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FINcontrol Suisse new supervisory body for trustee activities

On September 29, 2020, the Financial Market Supervisory Authority (FINMA) granted the authorization to FINcontrol Suisse SA to operate as a supervisory organisation in the regulatory framework of FinIA and FinSA. The company is based in Zug and is the fourth authorised body, following the Organisation de Surveillance Financière based in Neuchâtel (OSFIN), together with the Organisme de Surveillance pour Intermédiaires Financiers & Trustees (SO-FIT) and the Organisme de Surveillance des Instituts Financiers (OSIF), both based in Geneva.

According to the new regulations that came into force in January 2020, the supervisory organisations will be in charge of monitoring the activities of asset managers and trustees.

SOURCE: www.finma.ch