The Swiss financial market supervisory authority, FINMA, announced on Wednesday that it has signed a cooperation agreement with the Italian regulator CONSOB and the Italian central bank, Banca d’Italia, to enhance their collaborative efforts.

“Thanks to this agreement, the involved authorities can carry out their supervisory activities more effectively across borders. This enhances legal certainty for supervised entities operating in Italy and Switzerland,” stated Urban Angehrn, Head of FINMA, in a statement.

The agreement is expected to provide financial groups with clearer legal certainty regarding their access to the Italian market, according to FINMA.

This collaboration aims to strengthen cross-border supervisory practices and foster a more secure regulatory environment for institutions active in both Italy and Switzerland. The agreement reflects a step forward in regulatory harmonization between the two countries and is anticipated to facilitate smoother operations for financial entities across national boundaries.

About the author: Nick Schramm

Nick Schramm is tech savvy with strong engineering education behind. His interest in sciences helps the whole WeeklyNewsReview stuff to keep informed about various topics of the modern technology.

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