Information on the FinSA

Registration body

Under the FinSA, client advisers of financial service providers which are not subject to prudential supervision in Switzerland must now sign up to an adviser register. The registration body manages the adviser register and checks in particular whether the client advisers have completed the necessary training and further education.

The registration body will be licensed by FINMA

Client advisers, as defined in the FinSA, must contact the registration body within six months of the entry into force of this legislation in order to have their names added to the register.

Reviewing body for prospectuses

Any person in Switzerland who makes a public offer for the acquisition of securities or any person who seeks the admission of securities to trading on a trading venue in accordance with Article 26 of the Financial Market Infrastructure Act must first publish a prospectus (see Art. 35 FinSA).

Prospectuses (pursuant to Art. 35 ff. FinSA) will be reviewed by a reviewing body which must be licensed by FINMA.

The provisions of Title 3 of the FinSA will apply two years after the legislation enters into force. The Federal Council can, however, extend the deadline for some securities if this is deemed appropriate due to a delay in the reviewing body taking up its duties. 

Any questions?

Members of SROs can address their questions to their SRO.

You are welcome to contact us should you have any questions: FIDLEG-FINIG@finma.ch or on +41 31 327 98 88 (Monday to Friday, 8 a.m. - noon)