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.