The Swiss Financial Market Supervisory Authority published a press release welcoming the Federal Department of Finance's establishment of a working group to optimise financial market regulation in Switzerland. FINMA said it will support the group with its supervisory experience and expertise, and framed the initiative as a chance to propose regulatory adjustments that reduce burdens on supervised institutions while maintaining the stability, integrity and proper functioning of the financial centre. FINMA said it is already seeking to improve the efficiency of its supervisory work and simplify interactions with supervised institutions within the existing regulatory framework. As examples, it pointed to a fast-track process for traditional Swiss investment funds and said the average total time to authorise Swiss funds, including applicants' external processing time, is around 25 days, about one-third of the time customary in other major financial centres. It also said authorisation times for insurance intermediaries have been reduced significantly, partly through digital solutions.