FINMA Outsourcing Circular 2018/3

Unique is engaged with major Financial Institutions in Switzerland, hence Unique aimed for a report on the Outsourcing Circular 2018/3 to show compliance with Swiss Financial Regulations. Unique got this report by December 2023 and it can be provided upon request.

Purpose

• FINMA = Financial Market Supervisory Authority / Finanzmarktaufsicht

• What? Unique is not regulated or controlled by FINMA but our clients are.

• Why? We want to show that we adhere to the highest Compliance and IT security standards that are also required by FINMA.

Background

The top-performing banks and insurances leverage outsourcing to their advantage while effectively mitigating associated risks. However, not all banks have mastered risk management in outsourced operations. Consequently, FINMA's updated circular 2018/3 imposes minimum risk management standards for outsourced activities, extending to Swiss-based insurance companies and foreign insurance branches for the first time.

Certificate

The report can be provided upon request once a valid NDA is in place.