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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

  • Applies to all persons who exercise material influence over business activities or strategy (FinIA Art. 11).
  • Assessment criteria include criminal records, debt enforcement records, prior regulatory proceedings, and professional qualifications.
  • 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.

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.