Newsletter 2017-02: Strong Corporate Governance is gaining in importance

30. June 2017 – FINMA wants more quality in the strategic corporate management. The Swiss Financial Market Supervisory Authority, has revised its supervisory practice in respect of corporate governance. The authority’s new circular introduces new regulations for the composition of the board of directors, specifically in connection with the number of its members, its independence and its organisation; in this regard, the obligation to set up committees for specified categories of insurance companies is also stipulated. The circular is in force since January 2017. (Newsletter 2017/02_e).