May 13 2021
Upon its entry into force on January 1 2020, the Swiss Financial Services Act (FinSA), first, significantly changed the regulatory regime applicable to financial service providers in Switzerland and, second, introduced a new and modern regime for the offering of financial instruments.
Financial services
Among other things, the FinSA introduced regulatory requirements for all persons and entities providing financial services (as such term is defined in the FinSA) on a commercial basis in Switzerland or for clients in Switzerland (financial service providers).
Financial service providers are now subject to the new conduct rules set out in the FinSA and need to take certain organisational measures set forth in the FinSA and those financial service providers that are not yet subject to a prudential supervision in Switzerland within the meaning of the Swiss Financial Market Supervision Act are required to have their client advisers registered in a n
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On January 1 2020, the new Swiss Financial Services Act (FinSA)
and Financial Services Ordinance (FinSO) on November 6 2019,
implementing the provisions of the FinSA, have entered into force.
These laws are part of an entirely new regulatory framework
governing the Swiss financial markets.
While the majority of the rules entered into force immediately,
certain obligations were or still are subject to transition
periods. In particular, until December 1 2020, prospectuses could
still be established in accordance with the previous, arcane rules
of the Swiss Code of Obligations and, as far as SIX Swiss
December 11 2020
On January 1 2020, the new Swiss Financial Services Act (FinSA) and Financial Services Ordinance (FinSO) on November 6 2019, implementing the provisions of the FinSA, have entered into force. These laws are part of an entirely new regulatory framework governing the Swiss financial markets.
While the majority of the rules entered into force immediately, certain obligations were or still are subject to transition periods. In particular, until December 1 2020, prospectuses could still be established in accordance with the previous, arcane rules of the Swiss Code of Obligations and, as far as SIX Swiss Exchange-listed companies were concerned, in accordance with the former listing rules of the SIX Swiss Exchange. However, since December 1, all new offerings and admissions to a Swiss trading venue must comply with the new prospectus rules.