12 FINMA: an overview FINMA | Annual Report 2016
FINMA maintains a list of suitable mandataries 3 whom it can deploy quickly in specific instances. The mandataries listed must have knowledge and experience of similar mandates and have access to a functioning infrastructure. Where there is no suit able mandatary to carry out a mandate, FINMA may commission an expert who is not listed. The man dataries must always be independent of the supervised institution. In 2016, about 83% of them, i.e. 53 out of 64 mandataries on the list, were commissioned to carry out at least one FINMA mandate. Individual mandataries received a maximum of six
3
For the list of mandataries, see https://www.finma.ch/en/finma/ finma-mandataries.
mandates during this time. FINMA monitors the completion of mandates at all times and controls the proportionality of the costs borne by the supervised institutions in question. Each assignment given to a FINMA mandatary results in a ruling (which can be appealed) on the supervised institution or unauthorised financial intermediary. Costs for FINMA mandataries commissioned in 2016 came to CHF 49.2 million.