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Glossary

FinIA (Financial Institutions Act)

FinIA (Financial Institutions Act) has, since 1 January 2020, governed the licensing requirement and supervision of wealth managers, trustees, managers of collective assets, fund management companies, and securities firms (FinIA Art. 2 para. 1). These financial institutions require a FINMA Licence (FinIA Art. 5 para. 1). A wealth manager is anyone who, on the basis of a mandate, can dispose of clients' assets on a commercial basis in the name of and for the account of those clients (FinIA Art. 17 para. 1). Together with FinSA, it forms the foundation of Swiss financial market regulation.

At a glance

  • In force since 1 January 2020 (SR 954.1); replaced the previous self-regulation framework for independent asset managers.
  • Defines categories of financial institutions with graduated requirements: wealth managers, trustees, fund management companies, and securities firms (FinIA Art. 2).
  • Obliges wealth managers to affiliate with a Supervisory Organisation recognised by FINMA (FinIA Art. 7).

Frequently asked questions

FinIA specifies the minimum organisational, personnel, and financial requirements a wealth manager must meet to obtain a FINMA Licence. It governs capital adequacy, internal controls, the fitness of responsible persons, and ongoing reporting obligations to the Supervisory Organisation.

Sources: FINMA · Systematische Rechtssammlung (fedlex)

This entry is for general information purposes only and does not constitute investment, legal or tax advice. It is a simplified summary of the legal position and tax treatment.