FINMA mandataries are appointed by order. FINMA first consults with the appointed mandatary before informing the supervised institution. The appointment order names the appointed mandatary, sets out the content and purpose of the mandate and indicates the costs involved. Costs generated by mandataries are borne by the supervised institutions.
The guidelines on the orderly discharge of mandates also contain details on the rights, obligations, independence and responsibilities of a mandatary.