Law and Regulation
The Swiss Financial Market Supervisory Authority (FINMA) is a public law institution that supervises most banking-related activities as well as securities markets and investment funds. Regulatory authority is derived from the Swiss Financial Market Supervision Act (FINMASA) and Article 98 of the Swiss Federal Constitution.
The office of the Swiss Banking Ombudsman, founded in 1993, is sponsored by the Swiss Banking Ombudsman Foundation, which was established by the Swiss Bankers Association. The ombudsman's services, which are offered free of charge, include mediation and assistance to persons searching for dormant assets. The ombudsman handles about 1,500 complaints raised against banks yearly.
Read more about this topic: Banking In Switzerland
Famous quotes containing the words law and, law and/or regulation:
“An endless imbroglio
Is law and the world,—
Then first shalt thou know,
That in the wild turmoil,
Horsed on the Proteus,
Thou ridest to power,
And to endurance.”
—Ralph Waldo Emerson (1803–1882)
“While the system of holding people in hostage is as old as the oldest war, a fresher note is introduced when a tyrannic state is at war with its own subjects and may hold any citizen in hostage with no law to restrain it.”
—Vladimir Nabokov (1899–1977)
“Lots of white people think black people are stupid. They are stupid themselves for thinking so, but regulation will not make them smarter.”
—Stephen Carter (b. 1954)