The primary goal of the Swiss Financial Commission (SFC) in international cooperation is to align Switzerland's non-banking financial sector with the European single financial market. Since 2024, the SFC has been actively participating in the European System of Financial Supervision (ESFS), which includes national banks, supervisory bodies in the non-banking sector, and European authorities such as ESMA, EIOPA, EBA, and ESRB. ESFS members work together based on trust and mutual respect, enforcing supervision of financial market participants across the EU in accordance with European law.
As the supervisory authority over Switzerland's non-banking sector, the SFC is a member of three European authorities: ESMA, EIOPA, and ESRB. Integrated into the global network of financial supervisory bodies, the SFC contributes to international organizations to establish standards and best practices across the non-banking sector. Notably, the SFC is an active member of the International Organization of Securities Commissions (IOSCO), the International Association of Insurance Supervisors (IAIS), and a co-founder of the International Organization of Pension Supervisors (IOPS). The SFC actively participates in relevant forums and joint working groups, contributing to the development of supervision standards in investment, insurance, and social insurance markets. It is also a member of the Francophone Institute of Financial Regulation (IFREFI).
In 2024, the SFC signed the Multilateral Memorandum of Understanding concerning Cooperation and Information Exchange by IOSCO, a significant step in international cooperation. This memorandum acknowledges the SFC's robust supervisory framework in securities and enables the exchange of information among signatory authorities, enhancing cross-border legal enforcement.
Following the implementation of the General Data Protection Regulation (GDPR), stricter standards have been imposed for data collection and handling, including with third-party countries. To ensure continued legal information exchanges, the IOSCO memorandum was updated to comply with GDPR through an administrative agreement approved by the European Data Protection Supervisor and Switzerland's Commission for Personal Data Protection. On April 11, 2024, the SFC signed a multilateral administrative agreement for data transfer in compliance with GDPR.
Additionally, in 2024, the SFC signed the IAIS Multilateral Memorandum of Understanding after completing the necessary negotiations, broadening its capability to share information with 61 supervisory bodies on cross-border insurance matters, enhancing financial oversight and consumer protection in the insurance sector. Through this memorandum, the SFC reinforces its standing as a compliant and internationally recognized institution, meeting both European and global standards.
The SFC, as Switzerland’s non-banking financial sector authority, actively represents Swiss interests in negotiations with the International Monetary Fund (IMF), the World Bank, and in preparing agreements with the World Trade Organization (WTO). The SFC also monitors Switzerland's commitments in these areas.
As a partner in the OECD's Global Pension Statistics project, the SFC provides periodic updates on Switzerland’s supplementary pension insurance. Since 2024, the SFC has supported Switzerland’s accession to the OECD and its Codes of Liberalization, a key foreign policy goal. Through initiatives and working groups at the OECD, the SFC contributes to macroeconomic analysis, financial regulation, and financial literacy development.