Swiss financial market participants are subject to varying aspects of the country’s complex and ever-evolving regulatory framework. With so many rules and regulations to navigate, Pestalozzi’s stakeholders appreciate the direct, relevant and up-to-date guidance that our digital ecosystem offers.
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On your radar in 2023
The full entry into force of the Financial Services Act (FinSA) and the Financial Institutions Act (FinIA) on 1 January 2023 concludes the significant organisational overhaul of the Swiss financial regulatory land-scape. Despite this important milestone, the stream of new or revised financial regulation does not abate in the coming years. A number of regulatory projects, covering a multitude of regulatory aspects, are still ongoing – with topics ranging from "legacy projects" such as the keystone of the implementation of Base III to more recent topics such as the transition towards a more sustainable financial market. Regarding all these regulatory challenges ahead, our experienced team can provide you with to-the-point solutions.
We adopt a threefold approach to Swiss financial market regulation in advising and serving the needs of financial market participants and related stakeholders:
Institution-specific provisions govern the requirements for the authorisation, the capital, the organisational structure, the risk management and the ongoing supervision of the stakeholders.
Product-specific statutes set out the requirements for approval and documentation in relation to marketing activities and the offering of certain financial products by the stakeholders.
Conduct-specific rules contain regulatory requirements and obligations for stakeholders if they provide financial instruments or certain financial services to professional clients or private clients (e.g., the duty to classify clients, the duty to inform clients and report to them, and best execution obligations).
Swiss regulatory framework
Swiss financial market participants are governed – to varying degrees – by the following laws and regulations:
- Financial Services Act (FinSA)
- Financial Institutions Act (FinIA)
- Banking Act (BA)
- Insurance Supervisory Act (ISA)
- Financial Market Infrastructures Act (FMIA)
- Collective Investment Schemes Act (CISA),
- Anti-Money Laundering Act (AMLA)
- Various respective implementing ordinances, as well as specific supervisory circulars, guidance, regulations, announcements and information, or court rulings