In 2023, Finma filed 16 criminal complaints against companies operating without a portfolio manager or trustee license.
The regulator’s latest data shows that a total of 43 complaints were made to the Federal Ministry of Finance based on suspicious activity. Twenty-seven of them were filed by the end of 2022, although it was not specified when the first was made.
The regulator also included 234 institutions on the warning list. Meanwhile, five companies have been told they must limit their activities as a portfolio manager or trustee to activities strictly necessary to safeguard assets when applying for licenses after the transition period.