New Swiss financial markets legislation, the Swiss Federal
Financial Services Act (FinSA) and Swiss Federal Financial
Institutional Act (FinIA), will come into force on 1
January 2020, with a transition period of up to 2 years
for certain key provisions. The changes aim to align Swiss
regulation more closely with MiFID II.
Immediate actions to be taken by foreign funds offered
in Switzerland are minimal and relate principally to the
identification of advertising information as such.
Provisions for the registration of individuals conducting the
offer/marketing in Switzerland, and registration of financial
service providers with an Ombudsman apply from 30th June 2020 at
the earliest, with the full regime including reclassification of
investors applying from 31 December 2021.
