Glossary
Guarantee of Irreproachable Conduct
Guarantee of Irreproachable Conduct is a personal fitness requirement under FinIA, stipulating that qualified employees and owners of a wealth management firm must have an unblemished reputation and be professionally and personally capable of fulfilling their regulatory obligations on an ongoing basis.
At a glance
01
Applies to all persons who exercise material influence over business activities or strategy (FinIA Art. 11).
02
Assessment criteria include criminal records, debt enforcement records, prior regulatory proceedings, and professional qualifications.
03
If the guarantee lapses after licensing, the holder is obliged to notify the Supervisory Organisation without delay.
Frequently asked questions
Debt enforcement entries do not automatically result in a licence being refused. FINMA and the Supervisory Organisation assess the matter holistically: the nature, scale, cause, and time elapsed since the enforcement proceedings, as well as subsequent conduct, all factor into the overall assessment.
Part of the topic
Selbstständig werden als Vermögensverwalter
Sources: FINMA · Systematische Rechtssammlung (fedlex)