FINMA are an “independent supervisory authority” that regulate Switzerland’s financial markets.

As per FINMA’s website, the regulator’s

mandate is to supervise banks, insurance companies, exchanges, securities dealers, collective investment schemes, and their asset managers and fund management companies.

It also regulates distributors and insurance intermediaries. It is charged with protecting creditors, investors and policyholders.

FINMA is responsible for ensuring that Switzerland’s financial markets function effectively.

On the 30th of September 2016, FINMA added SwissCoin to their warning list.

FINMA begins an investigation of a company suspected of fraud. If a company does not comply with requests for information or information supplied is false, FINMA add the company to its warning list.

A company can also be added ‘
when FINMA investigations reveal an imminent and considerable threat to investors
‘.

While FINMA is conducting an investigation, a company remains on its warning list.

BehindMLM
reviewed SwissCoin
in May of 2016 and concluded it was a token-based Ponzi points scheme.

Last August the German consumer organization Stiftung Warentest also
issued a warning
against SwissCoin.

🤖 Quick Answer

What is FINMA and what are its regulatory responsibilities?
FINMA is Switzerland's independent supervisory authority overseeing financial markets. It regulates banks, insurance companies, exchanges, securities dealers, collective investment schemes, asset managers, and fund management companies. Additionally, FINMA supervises distributors and insurance intermediaries, with the primary mandate of protecting creditors, investors, and policyholders while ensuring effective market functioning.

Why was SwissCoin added to FINMA's warning list?
SwissCoin was added to FINMA's warning list on September 30, 2016, following investigation procedures initiated when the regulator suspected fraudulent activities. Companies are included on the warning list when they fail to comply with information requests or provide false documentation to regulatory authorities during investigations.

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