The Wealth Management Services Group (WMS)

A number of financial services require FINMA authorisation. If FINMA receives information that a provider is operating knowingly or unknowingly without authorisation, it will investigate the matter. If initial suspicions harden, FINMA can launch enforcement proceedings and impose measures of varying severity which may even lead to closing down the company.

FINMA checks the companies and individuals on its warning list to see if they are providing unauthorised services. The findings, however, have so far been inconclusive because the companies and individuals concerned have not complied with the requirement to provide information, or the information they provided is false. Moreover, when FINMA investigations reveal an imminent and considerable threat to investors, the providers involved are also entered in the list. The fact that a company is on FINMA’s warning list does not automatically mean that its activities are unlawful. Their entry in the list does, however, highlight the lack of authorisation. The companies and individuals in question will be removed from the list once FINMA has completed its investigations and taken any appropriate measures.