Financial Market Supervision Act (FINMASA)
Amended by Annex No II 16 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.
Art. 44 Activity without authorisation, recognition, a licence, registration or affiliation with a self-regulatory organisation
1 Any person who wilfully without authorisation, recognition, a licence, registration or affiliation with a self-regulatory organisation in accordance with Article 24 paragraph 1 of the AMLA carries out an activity that requires authorisation, recognition, a licence, registration or affiliation with a self-regulatory organisation under the financial market acts is liable to a custodial sentence of up to three years or to a monetary penalty. 2 Where the offender acts through negligence, he or she is liable to a fine of up to 250 000 francs. 3 ...
Art. 44 — Amended by Annex No II 16 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901). Para. 1 — SR 955.0 Para. 1 — Amended by Annex No II 16 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901). Para. 3 — Repealed by Annex No 13 of the Financial Market Infrastructure Act of 19 June 2015, with effect from 1 Jan. 2016 (AS 2015 5339; BBl 2014 7483).
Art. 45 Provision of false information
1 Any person who wilfully provides FINMA, an audit company, a supervisory organisation a self-regulatory organisation, or an agent with false information is liable to a custodial sentence of up to three years or to a monetary penalty. 2 Where the offender acts through negligence, he or she is liable to a fine of up to 250 000 francs. 3 ...
Para. 1 — Amended by Annex No II 16 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901). Para. 3 — Repealed by Annex No 13 of the Financial Market Infrastructure Act of 19 June 2015, with effect from 1 Jan. 2016 (AS 2015 5339; BBl 2014 7483).
Art. 46 Violations of obligations by agents
1 Any person who as an agent wilfully and seriously violates the supervisory provisions by: a. falsely stating essential information in the report or withholding essential information; b. failing to make a mandatory report to FINMA; or c. failing to make an order under Article 27 to the audited supervised person or entity, is liable to a custodial sentence of up to three years or to a monetary penalty. 2 Where the offender acts through negligence, he or she is liable to a fine of up to 250 000 francs. 3 ...
Art. 46 — Amended by Annex No 8 of the FA of 20 June 2014 (Consolidation of Oversight through Audit Companies), in force since 1. Jan. 2015 (AS 2014 4073; BBl 2013 6857). Para. 1 — Amended by Annex No 8 of the FA of 20 June 2014 (Consolidation of Oversight through Audit Companies), in force since 1. Jan. 2015 (AS 2014 4073; BBl 2013 6857). Para. 1 let. a — Amended by Annex No 8 of the FA of 20 June 2014 (Consolidation of Oversight through Audit Companies), in force since 1. Jan. 2015 (AS 2014 40
Art. 47 Audit of annual financial statements
1 Any person who wilfully: a. fails to have the annual financial statements required by the financial market acts audited by a licensed audit company or to have an audit carried out that is required under the financial market acts or that has been ordered by FINMA or a supervisory organisation; b. fails to fulfil his or her obligations vis-à-vis the audit company or the agent, [tab] is liable to a custodial sentence of up to three years or to a monetary penalty. 2 Where the offender acts through negligence, he or she is liable to a fine of up to 250 000 francs. 3 ...
Para. 1 let. a — Amended by Annex No 7 of the FA of 17 Dec. 2021, in force since 1 March 2024 (AS 2024 53; BBl 2020 6885). Para. 3 — Repealed by Annex No 13 of the Financial Market Infrastructure Act of 19 June 2015, with effect from 1 Jan. 2016 (AS 2015 5339; BBl 2014 7483).
Art. 48 Non-compliance with rulings
Any person who wilfully fails to comply with a legally enforceable ruling issued by FINMA containing notice of the penalties under this Article or with a decision of the appeal courts is liable to a fine of up to 100 000 francs.
Art. 48 — Amended by Annex No II 16 of the Financial Institutions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).
Art. 49 Offences in business operations
The ascertainment of the criminally liable persons may be dispensed with and instead the business operation may be ordered to pay the fine (Art. 7 of the FA of 22 March 1974 on Administrative Criminal Law) where: a. the ascertainment of the persons who are criminally liable under Article 6 of the Federal Act of 22 March 1974 on Administrative Criminal Law requires investigative measures that are disproportionate in comparison with the penalty incurred; and b. a fine of a maximum of 50 000 francs is under consideration for the violations of the criminal provisions of this Act or the financial market acts.
SR 313.0
Art. 50 Jurisdiction
1 For violations of the criminal provisions of this Act or the financial market acts, the Federal Act of 22 March 1974 on Administrative Criminal Law applies, unless this Act or the financial market acts provides otherwise. The authority responsible for prosecution and judgement is the FDF. 2 Where proceedings before the courts are requested or if the FDF is of the view that the requirements for a custodial sentence or a custodial measure are met, the offence is subject to federal jurisdiction. In such a case, the FDF shall refer the files to the Office of the Attorney General of Switzerland for proceedings before the Federal Criminal Court. The referral is deemed to be the bringing of charges Articles 73–83 of the Federal Act of 22 March 1974 on Administrative Criminal Law apply by analogy. 3 The representatives of the Office of the Attorney General of Switzerland and of the FDF are not required to appear in person at the trial.
Para. 1 — SR 313.0
Art. 51 Unification of prosecution
1 In a criminal case, if both the jurisdiction of the FDF and federal or cantonal jurisdiction apply, the FDF may order that the prosecution be unified under the prosecution authority already dealing with the case, provided there is a close factual relation, the case is not yet pending before the competent court and unification will not unreasonably delay the ongoing proceedings. 2 The Appeals Chamber of the Federal Criminal Court decides on any disputes between the FDF and the Office of the Attorney General of Switzerland or the cantonal authorities.
Art. 52 Statute of limitations
The prosecution of offences under this Act and under the financial market acts become time barred after seven years.