On 15 June 2018, the Swiss parliament adopted the Swiss
Financial Services Act (FinSA) and the Swiss Financial Institutions
Act (FinIA). On 24 October 2018, the Swiss Federal Council opened a
consultation process regarding the three ordinances implementing
these acts, the Financial Services Ordinance (FinSO), the Financial
Institutions Ordinance (FinIO) and the Supervisory Organisation
Ordinance (SOO), which will last until 6 February 2019. The two
acts are expected to enter into force together with the ordinances
on 1 January 2020 and will introduce an entirely new regulatory
framework governing the Swiss financial markets. The FinSA will
have a particular impact on financial service providers. In this
briefing, we examine the scope of the FinSA and the new regulations
governing the conduct of market participants.
