Role of FINMA
FINMA is not a general diploma-recognition authority for insurance intermediaries. It is the supervisory and registration authority for the Swiss insurance-intermediary regime. Untied insurance intermediaries must be entered in FINMA's public register in order to offer or conclude insurance contracts on the Swiss market.
All insurance intermediaries must possess and demonstrate the skills and knowledge required for their activity. The FINMA-approved minimum standards include qualification examinations and periodic recertification.
Main regulatory questions
Typical FINMA intermediary matters include:
- Registration of untied insurance intermediaries
- Classification as tied or untied intermediary
- Qualification and examination requirements
- Continuing education and recertification
- Personal good-repute and ongoing compliance requirements
The regime is primarily a registration and supervisory framework, not a recognition procedure under the ordinary professional-qualification system.