Swiss market regulator FINMA restructures, deputy CEO to step down

Swiss financial market regulator FINMA said on Tuesday it had revamped its organisational structure with immediate effect and that its deputy CEO would step down by April 30. A newly created FINMA Chief Risk Officer function will coordinate risk management processes in the business divisions. The new structure would "support more intensified, direct supervision, in particular by allowing the authority to carry out more of its own on-site supervisory reviews," FINMA said.