Dirk Spiegel comments: FINMA Risk Monitor 2025 – the biggest risk is not regulation

20/12/2025

The FINMA Risk Monitor 2025 is more than a warning signal – it is a practical tool for today. The central message: The pressure on financial institutions does not primarily arise from new regulation, but from the operational implementation of existing requirements.

Dirk Spiegel, CEO at velaw, explains in this video what this specifically means for asset managers, fund management companies, and other financial intermediaries.

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The most important points at a glance

Implementation trumps regulation: The monitor shows: Most institutions are aware of the rules. The real challenge lies in consistently and demonstrably implementing them in daily operations.

Focus on Operational Resilience: Outsourcing structures, technology dependencies, and cyber risks are at the top of the FINMA agenda. Those who use external partners must be able to demonstrate their controllability.

AML and Sanctions under Scrutiny: FINMA's expectations for anti-money laundering and sanctions compliance continue to rise. Processes and documentation must be up to date.

From Compliance to Resilience: The monitor marks a shift: it is no longer just about formal regulatory compliance, but about true operational resilience. Institutions must not only know compliance requirements, but demonstrably be able to actively manage risks.

Would you like to know where your institution stands with the FINMA Risk Monitor?

velaw supports financial institutions with regulatory classification, review of governance and organization, and practical implementation. Contact us for a free initial assessment.

Autor

Bio

Dirk is the founder of Velaw AG and has more than 20 years of experience in asset management, investment funds, and private market investments. He advises international and national asset managers, banks, funds, institutional investors, and other financial intermediaries on key legal, strategic, and transaction-related issues.

He specializes in the creation and structuring of investment products, the implementation of approval procedures and advice on sales and marketing activities in Switzerland and abroad.

He has extensive experience in corporate governance, compliance and risk management as well as in the development and implementation of internal regulations, anti-money laundering concepts and control mechanisms. Previously, he was Group General Counsel and Group Chief Compliance Officer of a global asset management company listed in Switzerland and gained professional experience in Europe, the USA and Asia.