In connection with the current overhaul of the Swiss financial market laws, the Federal Government has determined that it seeks an extension of the resolution authority of FINMA to bank holding companies and other important group companies, which are not currently subject to FINMA’s resolution powers. With this move, Switzerland accords to stipulations from the Financial Stability Board to bring all relevant members of a banking group under a sole resolution authority.

By René Bösch (Reference: CapLaw-2014-23)