Newsletter 104 from October 5, 2009 FINMA Defines Strategic Goals

Newsletter 104 FINMA Defines Strategic Goals - The Federal Council has approved FINMA's strategic goals for 2010–2012, thus declaring its support for FINMA's strategic positioning. Seven thematic areas will form the basis for FINMA’s specific initiatives and projects which are scheduled for implementation in the next three years. FINMA’s strategic goals: - Reduce systemic risks and complexities / - Improve client protection / - Streamline and optimize regulation / - Increase supervision effectiveness and efficiency / - Implement sustainable market supervision and effective enforcement  / - Position for international stability and close integration of markets / - Strengthen FINMA as an authority / The supervisory activities of the Swiss Financial Market Supervisory Authority (FINMA) are based on Art. 5 of the Financial Market Supervision Act (FINMASA). In addition to this legal basis, FINMA's Board of Directors defines the longer term focus of FINMA's work in accordance with its strategic goals. Following discussions with the Chairman of FINMA, the Federal Council approved FINMA's strategic goals for 2010–2012. FINMA’s Board of Directors defined the focal points in terms of seven subordinated strategic goals which are due to be implemented by means of specific initiatives and projects within the next three years. Implementation will be coordinated in conjunction with major interest groups such as political and administrative bodies, associations and supervised institutions. As regards reporting on implementation of the strategic goals, this will take place as part of the annual meeting held between FINMA and the Federal Council on the strategic direction of supervisory activity and financial centre policy. The principal aim of the strategic goals is to improve client protection. FINMA’s main role is to protect creditors, investors and insured persons, which forms the basis of its supervisory activity. The focus of this brief is to increase crisis resistance in the areas under supervision, protect investors and insured persons from the effects of insolvency risks and increase transparency relating to trading and product distribution. Contact Alain Bichsel, Head of Communication, Phone +41 (0)31 327 91 70, alain.bichsel@finma.ch.