The Swiss Financial Market Supervisory Authority (FINMA) has produced a circular (2017/1) containing a consolidation of the supervisory requirements relating to corporate governance, internal control systems and risk management for banks. The circular includes provisions to reflect revised international standards.

In addition, FINMA has revised two further circulars (i) operational risks – banks (2008/21) and (ii) remuneration schemes (2010/01) and has published the definitive circulars.

The revised circulars will enter into force on 1 July 2017.

A copy of the press release (in English) with links to the circulars (in German) is available.