FinSA Compliance Solution Package

New requirements with FinSA

The Swiss Financial Services Act (FinSA) came into force on 1 January, 2020. It changed the regulatory requirements concerned with offering investment funds to Swiss investors. The expanded requirements now include the following:

  • affiliation to an ombudsman;
  • registration of client advisors;
  • professional insurance requirements;
  • new organizational rules;
  • new conduct rules; and
  • a new classification of investors.

The obligations that apply to each provider will depend on the type of product being offered.
There is a transition period with different deadlines to allow all financial service providers to be fully compliant with the new rules and regulations.

Deadlines

  • Ombudsman affiliation: 24 December 2020
  • Registration of client advisors: 19 January 2021
  • Full FinSA compliance: 31 December 2021

Your solution with Oligo

Oligo provides clients with a comprehensive solution package to ensure full compliance with FinSA, including:

  • assessing your particular situation, and determining the obligations that apply;
  • formalizing your affiliation with a recognized ombudsman;
  • performing the registration of your client advisors with a recognized registry;
  • training and certifying your client advisors and personnel;
  • procuring appropriate professional insurance coverage for your company; and
  • templates for complying with the new FinSA requirements, namely:
    • organizational rules;
    • conduct rules;
    • classification of investors.

In addition to this, Oligo continues to offer its established fund representation service, required in most cases for a fund offering.

Finally, Oligo’s legal partners are ready to assist you, should you require advice from a Swiss law office.

With Oligo as a one-stop Swiss provider, clients benefit from a first-class level of governance for all Swiss-related matters, a continuous regulatory overview, and a simplified process that reduces costs and time to market.

Please do not hesitate to contact us to discuss any of these details further: finsa@oligofunds.ch