The “Direct transmission” Circular came into force on 1 January 2017. Its aim is to facilitate the direct exchange of information between supervised institutions and foreign authorities. FINMA consulted interested parties about revising it last year. Swiss regulated firms themselves had asked FINMA for an expansion of the list of foreign authorities that were able to provide administrative assistance. It is up to FINMA to decide whether to add this-or-that foreign regulator to its list.

The partially revised circular will come into force on 1 April.