Switzerland Broker License

Obtaining a Switzerland broker license for your forex broker firm can be a time consuming and stressful procedure as the laws and regulations which govern Switzerland’s financial services industry are vast. It is therefore advised to seek the assistance of a professional consultancy firm that is familiar with all areas of Switzerland securities and financial services requirements and regulations.

For information on how DeltaQuest can provide comprehensive consultancy on all areas of Switzerland Broker licensing, Contact DeltaQuest.

Switzerland Broker Firms and the FINMA

The regulatory body responsible for the framework, standards and requirements of companies in the financial services industry is known as FINMA – Swiss Financial Markets Authority. FINMA is a government agency set up for the primary intention of regulating Switzerland’s financial markets.

The scope of FINMA’s responsibility extends to the supervision and monitoring of insurance companies, securities dealers, financial intermediaries and banks based in Switzerland.

FINMA is defined as an independent institution with its own legal personality. The body was founded in June 2007 on the passing of the Act – Swiss Financial Market Supervisory Authority (FINMASA). The passing of the Act resulted in the merger of the Federal Office of Private Insurance (FOPI), the Anti-Money Laundering Control Authority and the Swiss Federal Banking Commission (SFBC).

The administrative body FINMA is responsible for the issuing of operating licenses for companies provided they satisfy the necessary prerequisites as stipulated under FINMA. Once a Switzerland broker license is issued by FINMA to a forex broker firm, that broker firm must operate in strict compliance with the ordinances, regulations and license standards as set by FINMA. Should a broker firm fail to comply, FINMA has the power to impose sanctions.

The goals and areas of focus of FINMA can be found in Article 5 of the Financial Market Supervisory Act (FINMASA). However, in general it is concerned with the protection of companies and investors within Switzerland’s financial markets.

Obtaining a Switzerland Broker License

A Switzerland broker license is sought by applying with the relevant application form and additional documents to the Swiss Financial Markets Authority (FINMA). Typically, the application will require the Swiss company Memorandum and Articles of Association, together with documents conveying the internal and external operations of the company, the results of a fit and proper test and a company business plan. It is important to note that a company must be set up in Switzerland for the specific purpose of engaging in forex activity for the application of a Switzerland broker license to be valid.

DeltaQuest consultants are highly experienced in all areas of Switzerland financial and securities markets. We can assist you on the application of your Switzerland broker license and additionally offer consultancy on how to manage your forex broker firm in compliance with the relevant laws and FINMA requirements.  We are specialist consultants and are fully equipped to ensure your Switzerland broker license is obtained in a timely and professional manner. Furthermore we will guide you on the areas of law which directly affect the running of your broker firm.

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