Services
Services
As the first independent fund representative (FINMA license since 2002) FIFS is one of the providers with the longest and most comprehensive experience in the representation of foreign funds in Switzerland. Since the year 2002 we support our customers when entering the Swiss market and during the on-going compliance with regulatory requirements. Additional support is offered to our customers regarding compliance with the applicable rules of conduct at the point of sale, when affiliating with an ombudsman’s office, for registration in the register of client advisers and for the evaluation of a suitable distribution partner in Switzerland.
Representative of foreign collective
investment schemes
Representation of funds registered with FINMA
In order to comply with the legal and regulatory requirements in Switzerland, FIFS offers foreign funds that are offered to non-qualified and qualified investors the following services:
- Representation of foreign funds towards Swiss investors and FINMA
- Compliance with legal reporting, publication and information obligation and the rules of conduct of industry organisations which have been declared a minimum standard by FINMA
- Providing a place of jurisdiction at the domicile of the representative
- Evaluation of distribution partners and
- Evaluation of a paying agent required by law
Representative of foreign collective
investment schemes
Representation of funds not registered with FINMA
In order to comply with the legal requirements in Switzerland FIFS offers foreign funds which are offered to certain qualified investors (high net worth individuals and private investment structures established for high net worth individuals), the following services:
- Representation of foreign funds towards Swiss investors and FINMA
- Compliance with legal reporting and information requirements and the rules of conduct of industry organisations which have been declared a minimum standard by FINMA
- Providing a place of jurisdiction at the domicile of the representative
- Evaluation of distribution partners, and
- Evaluation of a paying agent required by law
Regulatory training of rules of conduct, registration with a client adviser register, affiliation with an ombudsman’s office
Since the new respectively revised financial market laws and the related ordinances came into force as of 1 January 2020, in addition to the mere offering of and the advertising for funds, also the mere “fund distribution” is regulated, provided that such activity is considered a financial service.
If a financial service is involved, the following must be considered inter alia:
- the client adviser active at the point of sale in Switzerland of a financial service provider must be registered in a register of client advisers unless an exception applies;
- the financial service provider must ensure that the client advisers active in Switzerland possess the necessary expertise and sufficient knowledge of the rules of conduct required for their activities;
- the financial services provider must be affiliated with an ombudsman’s office and have the professional liability insurance required by law.
FIFS offers a practice-oriented training for the client advisers working at the point of sale regarding the rules of conduct to be observed in Switzerland. This is to ensure that your client advisers always meet the regulatory obligations to investors in Switzerland. The FIFS regulatory training is approved by BX Swiss as proof of sufficient knowlegde of the rules of conduct. Additionally, FIFS offers support for the registration of client advisers and when affiliating with an ombudsman’s office.