Capital Markets & Trading regulatory updates from Switzerland.
We track 19 Capital Markets & Trading updates from Switzerland regulators, published by FINMA. The archive covers 8 news items, 7 regulatory notices and 3 guidance notes. Most recent update: September 2026. Coverage runs from 2025 to 2026.
The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has appointed Joris Gröflin to the Swiss Takeover Board with effect from 1 January 2027.
Why this matters
The update announces the election of Joris Gröflin as a new member of the Swiss Takeover Board effective 1 January 2027, replacing Beat Fellmann. This is a standard governance/personnel matter.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen des Anhangs 2 und 14a der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.
FINMA announced that the EAER amended Annexes 2 and 14a of the Swiss Ordinance of 4 March 2022 on Measures Relating to the Situation in Ukraine (SR 946.231.176.72) on 14 August 2026. One entity was removed from Annex 14a and the entries for 610 individuals and entities in Annex 2 were amended; the measures take effect on 17 August 2026 at 23:00, requiring immediate sanctions-data and relationship reviews. Independent sanctions commentary continues to read Swiss Russia measures as closely aligned with EU restrictions, while highlighting that Annex 14a designations can prohibit transactions with listed Russian financial institutions and related financial-messaging activity.
The EAER amended Annex 2 and Annex 14a of SR 946.231.176.72. The official government notice indicates that one entity was removed from Annex 14a and the entries concerning 610 individuals and entities were amended in Annex 2; the publication does not state that all 610 entries are new designations, so firms should obtain and compare the underlying consolidated and delta lists before determining the precise status of each relationship. Financial intermediaries must implement the applicable prohibitions, freeze assets of sanctioned persons, and report affected business relationships to SECO.
The immediate effect of the amendments creates a high operational risk of prohibited dealings, failure to freeze assets or inaccurate sanctions screening if firms do not update records by 23:00 on 17 August 2026. FINMA expressly links sanctions reporting to continuing AMLA duties, so a SECO notification does not remove the need for Article 6 clarifications or an Article 9 report where suspicions remain.
AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.
The Swiss Financial Market Supervisory Authority FINMA is incorporating an existing circular on liquidity risks at banks and securities firms to a new ordinance. In doing so it is fulfilling the requirement for the format compliance of regulation in accordance with Article 7 paragraph 1 of the Financial Market…
Why this matters
FINMA published a new ordinance replacing previous liquidity guidance for banks and securities firms, effective January 1, 2027. The update includes minor substantive changes to liquidity shortage reporting and financial planning requirements.
No description available.
Why this matters
FINMA Chair's speech on SupTech and AI's transformative role in financial supervision. Addresses AI-driven supervisory modernization across banking, securities, and crypto markets. Discusses efficiency gains, systemic risks from concentrated AI models, governance challenges, and fraud detection.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat den Anhang 2 der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) geändert.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat am 4. Juni 2026 den Anhang 2 der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) angepasst, wodurch die schweizerischen Sanktionen gegen Sudan aktualisiert wurden. Dies verpflichtet beaufsichtigte Institute, ihre Sanktions- und Embargoprüfungen umgehend an die neuen gelisteten Personen, Organisationen oder Einrichtungen anzupassen und sicherzustellen, dass sämtliche Vermögenssperren und Meldepflichten nach schweizerischem Sanktions- und Geldwäscherecht eingehalten werden.
Die Änderung des Anhangs 2 der Sudan-Verordnung erhöht das unmittelbare Sanktions- und Geldwäschereirisiko für Schweizer Finanzintermediäre bei unzureichender Listenpflege, Überwachung und Meldeprozessen. Verstösse gegen schweizerische Sanktionsbestimmungen können zu erheblichen aufsichtsrechtlichen Massnahmen durch FINMA, strafrechtlichen Konsequenzen sowie schwerwiegenden Reputationsschäden führen.
AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.
The Swiss Financial Market Supervisory Authority FINMA has once again reviewed numerous money laundering risk analyses and is supplementing Guidance 05/2023 with further observations and insights for both banks and FinIA institutions. In doing so, it recognised the progress made, but also identified further room for…
The Swiss Financial Market Supervisory Authority FINMA is incorporating two existing circulars on risk diversification at banks and securities firms into a new ordinance. In doing so it is fulfilling the requirement for the format compliance of regulation in accordance with Article 7 paragraph 1 of the Financial…
Why this matters
FINMA published a new ordinance on risk diversification replacing previous circulars, with implementation effective January 1, 2027. This is informational regulatory guidance on prudential requirements for banks and securities firms, aligned with Basel III reforms.
The Swiss Financial Market Supervisory Authority (FINMA) welcomes the dispatch on the revision of the Banking Act, which the Federal Council adopted today. The bill is one of several key measures aimed at strengthening banking stability. In order to achieve the best possible results, FINMA recommends that the measures…
No description available.
Why this matters
FINMA Chair's annual media conference speech addressing financial stability, regulatory enforcement tools, governance/risk culture improvements post-Credit Suisse, and digital transformation/AI adoption.
At its annual media conference today, the Swiss Financial Market Supervisory Authority FINMA outlined the key areas of its supervision in 2025. It consistently implemented its proportional and risk-based supervisory approach, strengthened the resilience of the institutions under its supervision, and focused on the…
A survey of banks conducted by the Swiss Financial Market Supervisory Authority FINMA shows that there is a need for action in addressing digital fraud risks, particularly in the areas of operational risk management and preventing money laundering. FINMA published its findings today in a new guidance.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.
On January 29, 2026, Switzerland's State Secretariat for Economic Affairs (SECO) reduced the price cap on Russian crude oil from USD 47.6 to USD 44.1 per barrel, effective February 1, 2026. This adjustment tightens existing sanctions enforcement and requires Swiss financial intermediaries to immediately implement updated compliance controls and reporting obligations under the Ukraine Sanctions Ordinance (SR 946.231.176.72).
Urgency: CRITICAL
AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.
Der Bundesrat hat am 12. Dezember 2025 beschlossen, die Iran-Sanktionen dem Stand von vor dem Abschluss des Wiener Abkommens über das iranische Atomprogramm anzupassen. Dazu hat er die Verordnung über Massnahmen gegenüber der Islamischen Republik Iran einer Totalrevision unterzogen. Die neue Verordnung (SR…
Switzerland has completely revised its Iran sanctions regulations effective December 12, 2025, restoring sanctions to pre-2015 levels following the automatic reinstatement of UN Security Council resolutions on September 28, 2025. This comprehensive overhaul requires Swiss financial institutions and businesses to immediately implement expanded asset freezes, trade restrictions, and sectoral prohibitions affecting Iran-related transactions and designated persons.
Urgency: CRITICAL
AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.
Die Schweiz schliesst sich den weiteren Massnahmen des 18. Sanktionspakets der Europäischen Union (EU) gegenüber Russland sowie den zusätzlich zum 18. Sanktionspaket erlassenen Massnahmen gegenüber Belarus an. Dies hat der Bundesrat am 29. Oktober 2025 beschlossen. Im Fokus stehen Massnahmen im Güter-, Finanz und…
Switzerland has aligned with additional EU measures from the 18th sanctions package against Russia and specific Belarus measures, amending the Ordinance on Measures against Belarus (SR 946.231.116.9) to focus on goods, financial, and energy sectors. This strengthens the sanctions regime against Belarus to mirror Russia's more closely, aiming to enhance effectiveness and prevent circumvention. Compliance teams must prioritize asset freezes, transaction prohibitions, and reporting to avoid enforcement risks from FINMA and SECO.
Urgency: High - Effective 30 October 2025, these changes demand immediate portfolio screening and reporting, with non-compliance risking FINMA enforcement, asset seizure, or criminal penalties under sanctions laws. Matters due to rapid alignment with evolving EU packages, increasing circumvention risks via Belarus, and heightened FINMA scrutiny on financial intermediaries amid ongoing Russia/Ukraine conflict.
AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.
Die Schweiz schliesst sich den weiteren Massnahmen des 18. Sanktionspakets der Europäischen Union (EU) gegenüber Russland sowie den zusätzlich zum 18. Sanktionspaket erlassenen Massnahmen gegenüber Belarus an. Dies hat der Bundesrat am 29. Oktober 2025 beschlossen. Im Fokus stehen Massnahmen im Güter-, Finanz und…
On October 29, 2025, the Swiss Federal Council (Bundesrat) adopted comprehensive sanctions measures aligned with the EU's 18th sanctions package against Russia and additional measures against Belarus, effective October 30, 2025. This enforcement action significantly expands financial transaction prohibitions, export restrictions, and asset freezes, requiring Swiss financial intermediaries to immediately implement new compliance obligations across banking, goods trade, and energy sectors.
Urgency: CRITICAL
AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.
The Swiss Financial Market Supervisory Authority FINMA takes note of the Federal Administrative Court’s partial decision concerning the write-down of AT1 capital instruments. FINMA will contest the judgment of 1 October 2025 and appeal to the Federal Supreme Court.
Why this matters
This regulatory update from FINMA concerns the write-down of AT1 capital instruments, which is a key prudential requirement for banks. The fact that FINMA is appealing the court's decision indicates this is an important issue for the banking sector.
The Swiss Financial Market Supervisory Authority FINMA today published guidance on the extension of the transitional period for exchange of collateral in certain OTC derivatives transactions. The current transitional period runs until 1 January 2026 and will be extended by a further three years.
FINMA extended the transitional period for collateral exchange requirements in non-centrally cleared OTC derivatives from January 1, 2026 to January 1, 2029, providing Swiss market participants with three additional years of relief from mandatory collateral posting obligations on certain equity derivatives. This extension aligns Swiss regulation with the EU's indefinite exemption introduced in December 2024, preventing competitive disadvantages for Swiss derivatives traders while a permanent regulatory framework is developed.
Urgency: Medium
AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen des Anhangs 8 der Verordnung vom 4. März 2022 über Massnahmen im Zusammenhang mit der Situation in der Ukraine (SR 946.231.176.72) publiziert.
The publication announces updates by the Swiss Federal Department for Economic Affairs, Education and Research (WBF) to Annex 8 of the Ordinance on Measures in Connection with the Situation in Ukraine (SR 946.231.176.72), aligning Swiss sanctions against Russia with ongoing international restrictions. This matters for Swiss financial intermediaries as it imposes immediate obligations to block assets, report relationships, and conduct AML checks, amid escalating sanctions that heighten compliance risks and enforcement scrutiny from FINMA.
Urgency: Critical – Effective immediately at 23:00 on January 13, 2026, with no grace period, this demands urgent system updates, screenings, and reporting to avoid FINMA enforcement (e.g., fines, licenses at risk). It amplifies AML / Financial Crime risks in a high-scrutiny environment, as FINMA's Risikomonitor 2025 highlights Russia sanctions as a top concern amid iterative updates.
AI-generated analysis. May contain errors or omissions — verify with the original FINMA source before acting. Full disclaimer.
On 3 July 2025, the Swiss Financial Market Supervisory Authority FINMA launched the consultations on the new Ordinances on the Risk Diversification of Banks and Securities Firms and on the Liquidity of Banks and Securities Firms. The consultations will go on until 29 September 2025.