Matthieu, NicolasNicolasMatthieu2023-04-132023-04-132023-02-20https://www.alexandria.unisg.ch/handle/20.500.14171/107733Since the global financial crisis of 2008 and 2009 it has become clear that significant systemic, market, and individual risks are prevalent in Shadow banking or credit intermediation conducted outside of the supervised banking sector. Against the background of the various definition proposals put forward within the post-Crisis literature and by the global-standard setting bodies, this thesis defines shadow banking activities as complex forms of credit intermediation activities funded by runnable (redeemable at short notice) financial instruments performed by entities without a banking license. Whether and to what extent the post-Crisis Swiss regulatory framework has responded proportionately to the risks inherent in said activities has not been explored in detail. This thesis therefore assesses the responses by the Swiss legislator and authorities, concentrating on four main areas within the post-Crisis regulatory framework: I) supervisory data transparency, II) open-ended investment funds involvement with complex credit intermediation activities, III) special regulation of investment techniques of securitization, SFT, and credit derivatives, and IV) runnable non-bank funding (funding side). While the examination follows a primarily risk-based approach, the benevolent effects of more resilient forms of relevant activities for the diversity of finance and credit supply for the Swiss economy are also taken into account. In consideration of four evaluation criteria based on the FINMAs supervisory objec-tives and the Federal Councils policy objectives, it may be maintained that the post-Crisis Swiss regulatory framework regarding shadow banking is comprehensive and largely proportional. Nonetheless, closer examination reveals a degree of disproportion-ality, insufficiencies, and inconsistencies in certain areas. Measures for corrective action are therefore proposed to tackle these shortfalls. Overall, the Swiss authorities have taken appropriate action in monitoring the very limited volume of domestic activities. The status of the implementation of the global reform proposals remains in line with other comparable jurisdictions (e.g., member states of the European Union).enKapitalmarktrechtBankrechtSchattenbankEDIS-5187FinanzmarktregulierungKapitalmarktFinanzstabilitätsratcapital market lawfinancial market regulationfinancial stability boardcapital marketBankwesenFinancial market lawFinanzmarktrechtbanksdoctoral thesis