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 2021
With the enactment of the Financial Institutions Act (FinIA) and the Financial Services Act (FinSA) on 1 January 2020, portfolio managers and trustees became subject to new regulation and must obtain a FINMA license. In addition, new regulatory requirements pursuant to FinSA and FinIA apply to existing and future financial market participants (i.e. those providing certain regulated financial services in, or for clients in, Switzerland) subject to specific transitional provisions. Our experienced team can provide you with to-the-point solutions on the new regulatory requirements to be implemented.
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