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FINSA / FINIA update July 2020

Martin Liebi Director, Legal, PwC Switzerland 09 Jul 2020

As of 24 June 2020 the FINSA client advisor registry and ombudsman have been licensed. To get a certificate of knowledge and know-how, the FINSA Client Advisor Test is the only recognised online certificate that shows sufficient proof for it.

The Swiss Federal Department has licensed the first ombudsman for financial services according to FINSA on 24 June 2020 (see Ombudsman according to the FinSA). The Swiss Financial Market Supervisory Authority FINMA has licensed Regservices Ltd. as the first Swiss Client Advisor Registry under FINSA (see The new FinSA services of BX Swiss). This means that two new deadlines have started to run. Financial service providers will have to adhere to an ombudsman no later than until 23 December 2020 and client advisors will have to register with a client advisor registry no later than until 19 January 2021.

Entry into force of the new obligations under FINSA

The FINSA Client Advisor Registry has also published a list with all recognised certificates and education (see Required Knowledge). The FINSA Client Advisor Test is the only online certificate that is recognised by all Client Advisor Registries as sufficient proof of the knowledge of all financial services and the behavioural obligations under FINSA.

 

Contact us

Martin Liebi

Martin Liebi

Director, Legal, PwC Switzerland

Tel: +41 58 792 28 86

Leandro Lepori

Leandro Lepori

Attorney-at-law, Co-Head of FinTech, Blockchain and Digital Assets, Legal, PwC Switzerland

Tel: +41 58 792 98 45

Adrien Tharin

Adrien Tharin

Attorney-at-law, Co-Head of FinTech, Blockchain and Digital Assets, PwC Switzerland

Tel: +41 58 792 92 24

David Violi

David Violi

Senior Manager, Legal, PwC Switzerland

Tel: +41 58 792 98 94