Financial Services Act (FinSA) - all articles with explanations

Introduction FIDLEG

The Financial Services Act (FINSA) is a Swiss law that regulates the regulation of financial services in Switzerland. It is aimed at protecting investors who use the services of financial institutions. The law establishes requirements for financial service providers to ensure transparency, fairness and integrity in the financial market. It regulates, among other things, the information obligations of financial service providers to their customers, investment advice and asset management. The FINSA is part of a comprehensive regulatory package in the financial sector, which also includes the Financial Market Infrastructure Act (FMIA) and the Collective Investment Schemes Act (CISA). It is intended to contribute to strengthening investor confidence in the Swiss financial market and ensuring the stability of the financial system.

The articles FIDLEG

Art. 1 General Provisions
Art. 2 Scope of application
Art. 3 Definitions
Art. 4 Client segmentation
Art. 5 Opting out and opting in
Art. 6 Requirements for the Provision of Financial ServicesChapter 1 Required Knowledge
Art. 7 Code of ConductSection 1 Principle
Art. 8 Duty to Provide Information
Art. 9 Timing and form of information
Art. 10 Appropriateness and Suitability of Financial Services
Art. 11 Assessment of appropriateness
Art. 12 Assessment of suitability
Art. 13 Exemption from the duty to review
Art. 14 Non-assessable or lacking appropriateness or suitability
Art. 15 Documentation and Rendering of Account
Art. 16 Rendering of account
Art. 17 Transparency and Care in Client Orders
Art. 18 Best execution of client orders
Art. 19 Use of clients' financial instruments
Art. 20 Institutional and Professional Clients
Art. 21 OrganisationSection 1 Organisational Measures
Art. 22 Staff
Art. 23 Involvement of third parties
Art. 24 Chain of providers
Art. 25 Conflicts of Interest
Art. 26 Compensation from third parties
Art. 27 Staff transactions
Art. 28 Register of Advisers
Art. 29 Registration conditions
Art. 30 Contents
Art. 31 Registration body
Art. 32 Keeping of the register and notification duty
Art. 33 Fees
Art. 34 Procedure
Art. 35 Offering of Financial InstrumentsChapter 1 Prospectus for SecuritiesSection 1 General
Art. 36 Exemptions by type of offer
Art. 37 Exemptions by type of securities
Art. 38 Exemptions for admission to trading
Art. 39 Information beyond the scope of the duty to publish a prospectus
Art. 40 Requirements
Art. 41 Exemptions
Art. 42 Inclusion by reference
Art. 43 Summary
Art. 44 Structure
Art. 45 Base prospectus
Art. 46 Supplementary provisions
Art. 47 Relaxation of Requirements
Art. 48 Collective Investment Schemes
Art. 49 Closed-ended collective investment schemes
Art. 50 Exemptions
Art. 51 Review of the Prospectus
Art. 52 Reviewing body
Art. 53 Procedure and deadlines
Art. 54 Foreign prospectuses
Art. 55 Validity
Art. 56 Supplements
Art. 57 Fees
Art. 58 Key Information Document for Financial Instruments
Art. 59 Exemptions
Art. 60 Contents
Art. 61 Requirements
Art. 62 Changes
Art. 63 Supplementary provisions
Art. 64 Publication
Art. 65 Prospectus for collective investment schemes
Art. 66 Key information document
Art. 67 Changes to the rights associated with securities
Art. 68 Advertising
Art. 69 Liability
Art. 70 Offering of Structured Products and Creation of In-House Funds
Art. 71 In-house funds
Art. 72 Provision of Documents
Art. 73 Procedure
Art. 74 Ombudsman's OfficesChapter 1 Mediation
Art. 75 Procedure
Art. 76 Interdependence with conciliation proceedings and other proceedings
Art. 77 Duties of Financial Service Providers
Art. 78 Duty to participate
Art. 79 Duty to provide information
Art. 80 Financial participation
Art. 81 Admission and Exclusion
Art. 82 Exclusion
Art. 83 Duty to inform
Art. 84 Recognition and Publication
Art. 85 Review of recognition
Art. 86 Reporting
Art. 87 Supervision and Exchange of Information
Art. 88 Exchange of information
Art. 89 Criminal Provisions
Art. 90 Violation of the regulations on prospectuses and key information documents
Art. 91 Unauthorised offering of financial instruments
Art. 92 Exemptions
Art. 93 Final Provisions
Art. 94 Amendment of other legislation
Art. 95 Transitional provisions
Art. 96 Referendum and commencement