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.
- 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: firstname.lastname@example.org