Annual Report 2016

Regulatory Audit | FAOA 2016
27
Figure 9
Number of supervised institutions by regulatory area
Regulatory area Number supervised 2016 2015
Banks
Banks and securities traders
(without Raiffeisen banks 39 ) 312 346
Insurers
Insurance companies 207 214
Insurance groups 6 6
Fund managers 44 43
CISA
Agents 71 94
Asset managers 206 178
Swiss collective investment schemes 1,551 1,542
DSFI Directly supervised financial intermediaries 198 227
2016 inspections
In 2016, nine 40 (prior year: eight) regulatory
audit firms were inspected,
thereof
− five with an annual inspection cycle
as they audit more than 50 PIEs,
− two of six audit firms subject to
inspection at least every three
years, and
− two of eight pure DSFI regulatory
audit firms subject to inspection
every five years.
− Six banks, comprising two systemically
relevant banks, a cantonal
bank, two foreign-controlled banks
and another bank,
− An insurer,
− An asset manager,
− A fund manager, as well as the
collective investment scheme managed
by it, and
− Three DSFI.
Audit quality at the eight firms inspected
in 2016 was assessed by means of
eleven file reviews. The following categories
of financial market companies
were selected:
39 Additional 271 cooperatively-organised
Raiffeisen banks
40 The inspection fieldwork was completed
at a further two of the largest
five audit firms and an audit firm
subject to a three-year inspection
cycle. Since the findings process is
still at an early stage these are excluded
from this Annual Report.
Conversely, the two inspections that
were still to be completed in the prior
year are included.