Enforcement: licence holders

SFMA monitors licence holder compliance with financial market laws on an ongoing basis. It follows up on any information it receives about breaches of supervisory law and takes the measures needed to restore compliance. Where necessary, SFMA opens enforcement proceedings.

Monitoring licence holders (banks and securities firms, insurers, fund management companies and managers of collective assets (portfolio managers) and their compliance with financial market laws is an integral part of SFMA’s supervisory activities. For the ongoing monitoring of licenced portfolio managers and trustees, SFMA involves supervisory organisations. Where violations of the law or irregularities are identified, SFMA takes corrective measures, which can involve enforcement proceedings. The purpose of these proceedings is to establish the facts of the case and to impose the measures needed to restore the licence holders' compliance, and that of their owners and staff, with the law.