Regulatory updates



  • Regulatory Update: December 2020

    The Federal Council brought the limitation on the ombudsman affiliation requirement into force with effect from 1 February 2021
    In the future, the ombudsman affiliation requirement will not to financial service providers serving solely institutional or professional clients (excluding high-net-worth retail clients who have declared themselves to be professionals).

  • Regulatory Update: November 2020

    FINMA adopts new regulation on implementing the Financial Services and Financial Institutions Acts
    These encompasses a new implementing ordinance to FinIA, FinIO-FINMA, as well as changes to FINMA ordinances and circulars that need to be adjusted as a result of FinSA and FinIA. These laws oblige FINMA to pass these implementing provisions pertaining to selected, mainly technical issues.

    FINMA publishes Guidance 09/2020 concerning the Financial Markets Infrastructure Ordinance
    It extends the period for the duty to exchange collateral for non-centrally cleared OTC derivative transactions involving options on individual equities or index options to 4 January 2021, Link.

    FINMA publishes AMLA audit points for banks, Link, and asset managers, Link
    These will be used by auditors when conducting audits in the area of anti-money laundering.