Glossary
FinSA
The Financial Services Act (FinSA) is the Swiss federal statute that entered into force in 2020 and establishes uniform rules of conduct for financial services providers. It governs information duties, Suitability and Appropriateness Assessments, documentation requirements, and access to ombudsman services, thereby strengthening client protection in the Swiss financial market.
At a glance
- FinSA entered into force on 1 January 2020; it is oriented towards the European investor protection standard (MiFID II) without adopting it in full.
- Core obligations: information for clients (Art. 8 and 9 FinSA), Appropriateness and Suitability Assessments (Art. 11 and 12 FinSA), documentation and rendering of account (Art. 15 and 16 FinSA); in addition, the key information document for financial instruments offered to retail clients (Art. 58 et seq. FinSA).
- FinSA is complemented by FinIA (Financial Institutions Act), which governs licensing requirements for financial services providers.
Frequently asked questions
FinSA strengthened client protection by imposing new duties on financial services providers: they must inform clients about risks, costs, and conflicts of interest before providing a service, assess the suitability or appropriateness of products, and document the results. Clients also gain easier access to an ombudsman in the event of disputes.
Part of the topic
Financial Advice
Sources: FINMA · Classified Compilation (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.