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Art. 98

Competence

(Art. 74 FinSA)

Mediation proceedings shall be conducted by the ombudsman's office to which the client's financial service provider is affiliated.

Legal act context
SR 950.11 · FINSO · Ordinance · Ordinance of 6 November 2019 on Financial Services (Financial Services Ordinance, FINSO)
Structure path
Title 5 Ombudsman's Offices
Language
English (en)
Data status
2022-01-01

Available language versions

Deutschde Françaisfr Italianoit Englishen

The official sources and versions published by the competent authorities remain authoritative.

Contents of this enactment

Document textGeneral document text1ArticlesRegular articles in this version112AnnexesAnnexes and attachments in this version11
Document text1
Articles112
1Title 1 General Provisions
Art. 1 – Subject matterArt. 1 Subject matter This Ordinance governs the requirements: a. for honesty, diligence and transparency in the provision of financial services; b. for the offering of securities and other financial instruments. Direct link
Art. 2 – Territorial scope of application with regard to financial servicesArt. 2 Territorial scope of application with regard to financial services 1 This Ordinance applies to persons who provide financial services on a professional basis in Switzerland or for clients in Switzerland. 2 The fo… Direct link
Art. 3 – DefinitionsArt. 3 Definitions 1 Claims arising from an account or custody agreement for payment or physical delivery of foreign currencies, fixed-term deposits or precious metals are not deemed to be financial instruments within t… Direct link
Art. 4 – Client segmentationArt. 4 Client segmentation 1 Where several clients are entitled to assets, they are to be assigned jointly for these assets to the respective client segment affording the greatest client protection. 2 Clients acting thr… Direct link
Art. 5 – Assets eligible for opting outArt. 5 Assets eligible for opting out 1 Eligible assets within the meaning of Article 5 paragraph 2 FinSA are financial investments held directly or indirectly by the retail client, specifically: a. sight or time deposi… Direct link
1Title 2 Requirements for the Provision of Financial Services
2Chapter 1 Code of Conduct
3Section 1 Duty to Provide Information
Art. 6 – Information on the financial service providerArt. 6 Information on the financial service provider 1 Financial service providers state the necessary contact details, in particular their address. 2 Supervised financial service providers shall also state: a. the name… Direct link
Art. 7 – Informationon the financial service and the financial instrumentsArt. 7 Informationon the financial service and the financial instruments 1 The information on the financial service shall contain details of: a. the nature of the financial service, its essential features and functional… Direct link
Art. 8 – Information on costsArt. 8 Information on costs 1 Information on costs shall contain in particular details of the one-time and running costs of the financial service and the costs incurred in connection with the acquisition or disposal of… Direct link
Art. 9 – Information on business affiliationsArt. 9 Information on business affiliations 1 Financial service providers shall provide information on business associations with third parties insofar as these associations may lead to a conflict of interest in connect… Direct link
Art. 10 – Information on the market offer taken into accountArt. 10 Information on the market offer taken into account 1 Financial service providers shall inform their client in particular whether the market offer taken into account when selecting the financial instruments compr… Direct link
Art. 11 – Execution and transmission of client ordersArt. 11 Execution and transmission of client orders 1 A financial service does not consist solely of executing or transmitting a client order if prior consultation took place. 2 A key information document is deemed to b… Direct link
Art. 12 – Form of informationArt. 12 Form of information 1 The information in accordance with Articles 6–11 shall be made available to the retail client on a durable data medium or via a website. 2 If the information is made available via a website… Direct link
Art. 13 – Timing of informationArt. 13 Timing of information Clients shall be informed in such a way that they have sufficient time to understand the information regarding the signing of the contract or the provision of the financial service. Direct link
Art. 14 – Timing of the information on risks and costsArt. 14 Timing of the information on risks and costs Financial service providers shall provide information on risks and costs: a. on conclusion of the contract to establish a client relationship; or b. prior to the firs… Direct link
Art. 15 – Consultation without the client being physically presentArt. 15 Consultation without the client being physically present 1 Consultation is deemed to take place without the client being physically present within the meaning of Article 9 paragraph 2 FinSA if: a. the parties ar… Direct link
3Section 2 Appropriateness and Suitability of Financial Services
Art. 16 – Representative relationshipsArt. 16 Representative relationships In the case of clients acting through an authorised person, the financial service provider will take account of the knowledge and experience of this person for the purpose of the ass… Direct link
Art. 17 – Assessment of suitability and exemption from the duty to reviewArt. 17 Assessment of suitability and exemption from the duty to review 1 When enquiring about the client's financial situation, the financial service provider will take account of the nature and amount of their regular… Direct link
3Section 3 Documentation and Rendering of Account
Art. 18 – DocumentationArt. 18 Documentation The financial service provider must structure the documentation such that they are able as a rule within ten working days to render account to the client about the financial services provided. Direct link
Art. 19 – Rendering of accountArt. 19 Rendering of account 1 Rendering of account to the client encompasses the documentation: a. on the orders received and executed; b. on the composition, valuation and development of the portfolio in respect of th… Direct link
3Section 4 Transparency and Care in Client Orders
Art. 20 – Handling of client ordersArt. 20 Handling of client orders 1 For the purpose of handling client orders, financial service providers must have in place processes and systems which: a. are appropriate with regard to their size, complexity and bus… Direct link
Art. 21 – Best execution of client ordersArt. 21 Best execution of client orders 1 To ensure the best possible outcome for the client, financial service providers shall define for the execution of client orders the necessary criteria for selecting the place of… Direct link
3Section 5 Professional clients
Art. 22Art. 22 Professional clients may release financial service providers from applying the code of conduct set out in Articles 8, 9, 15 and 16 FinSA only in writing or in another form demonstrable via text and only in a doc… Direct link
2Chapter 2 Organisation
3Section 1 Organisational Measures
Art. 23Art. 23 1 Insofar as they are not subject to special statutory provisions, financial service providers are deemed to satisfy the obligations of the FinSA if they: a. define internal guidelines which are appropriate to t… Direct link
3Section 2 Conflicts of Interest and Related Duties
Art. 24 – Conflicts of interestArt. 24 Conflicts of interest Conflicts of interest within the meaning of the FinSA are deemed to exist in particular if the financial service provider: a. in breach of the principle of good faith and to the detriment o… Direct link
Art. 25 – Organisational precautionsArt. 25 Organisational precautions In order to prevent conflicts of interest, financial service providers must take the following risk-adequate precautions appropriate to their size, complexity and legal form as well as… Direct link
Art. 26 – DisclosureArt. 26 Disclosure 1 If precautions in accordance with Article 25 paragraph 1 FinSA cannot prevent disadvantages for clients or only with a disproportionate amount of effort, the financial service provider shall disclos… Direct link
Art. 27 – Impermissible forms of conductArt. 27 Impermissible forms of conduct The following forms of conduct are always impermissible: a. the restructuring of client custody accounts with no economic justification in the client's interest; b. the exploitatio… Direct link
Art. 28 – DocumentationArt. 28 Documentation Financial service providers must document those of its financial services where conflicts of interest have arisen or may arise. Direct link
Art. 29 – Compensation from third partiesArt. 29 Compensation from third parties 1 Compensation accepted from third parties in association with the provision of financial services and which by its very nature cannot be passed on to clients must be disclosed in… Direct link
Art. 30 – Staff transactionsArt. 30 Staff transactions Members of the body responsible for governance, supervision and control, the body responsible for management, partners with unlimited liability as well as persons with comparable functions are… Direct link
2Chapter 3 Register of Advisers
3Section 1 Exemption from the duty to register and take out professional indemnity insurance
Art. 31 – Exemption from the duty to registerArt. 31 Exemption from the duty to register Client advisers of foreign financial service providers which are prudentially supervised abroad are exempted from the duty to register if the services they provide in Switzerl… Direct link
Art. 32 – Professional indemnity insuranceArt. 32 Professional indemnity insurance 1 Professional indemnity insurance is taken out to cover the statutory liability arising from pecuniary losses resulting from the activity as financial service provider or client… Direct link
Art. 33 – Equivalent collateralArt. 33 Equivalent collateral 1 A deposit in the amount of the insurance sum placed with a bank within the meaning of Article 1a of the Banking Act of 8 November 1934SR 952.0 qualifies as collateral equivalent to profes… Direct link
3Section 2 Registration body
Art. 34 – Application for a licenceArt. 34 Application for a licence 1 The registration body shall submit an application for a licence to the Swiss Financial Market Supervisory Authority (FINMA). The application shall contain all details required to asse… Direct link
Art. 35 – Supervision by FINMAArt. 35 Supervision by FINMA 1 The registration body shall draw up an annual activity report for submission to FINMA. This report shall also contain, in particular, details of coordination with other registration bodies… Direct link
Art. 36 – Place of managementArt. 36 Place of management 1 The registration body must be domiciled in Switzerland and effectively be managed from Switzerland. 2 If it is integrated into an existing legal person, the latter must be domiciled in Swit… Direct link
Art. 37 – OrganisationArt. 37 Organisation 1 The registration body must have an operational organisation which guarantees the independent fulfilment of its tasks. 2 Operations must: a. be set out in organisational regulations; b. ensure that… Direct link
Art. 38 – Delegation of tasksArt. 38 Delegation of tasks 1 The registration body may only delegate activities of minor significance to third parties. 2 The third parties must have the necessary skills, knowledge and experience to perform the delega… Direct link
Art. 39 – Licence costsArt. 39 Licence costs In accordance with the FINMA Ordinance on the Levying of Supervisory Fees and Duties of 15 October 2008SR 956.122, the registration body shall bear the costs of: SR 956.122 a. the licensing procedu… Direct link
Art. 40 – Retention periodArt. 40 Retention period The registration body shall retain registration documents and records for a period of ten years. Direct link
3Section 3 Notification duty and fees
Art. 41 – Notification dutyArt. 41 Notification duty 1 Client advisers shall report to the registration body within 14 days: a. any change in name; b. any change in the name or address of the financial service provider for which they work; c. any… Direct link
Art. 42 – FeesArt. 42 Fees 1 Anyone who occasions a ruling by the registration body or requests a service from the registration body is liable to a fee. The registration body may levy an annual fee to cover annually recurring expense… Direct link
1Title 3 Offering of Financial Instruments
2Chapter 1 Prospectus for Securities
3Section 1 General information
Art. 43 – Definition of prospectusArt. 43 Definition of prospectus 1 A prospectus within the meaning of Article 35 FinSA is a document which satisfies the requirements set out in Articles 40–49 FinSA and: a. has been approved by a reviewing body or in a… Direct link
Art. 44 – Determination of the type of offerArt. 44 Determination of the type of offer 1 The calculation of the value of the securities in accordance with Article 36 paragraph 1 letter c and the calculation of the total value in accordance with Article 36 paragra… Direct link
Art. 45 – Consent to use the prospectusArt. 45 Consent to use the prospectus Consent to use a valid prospectus in accordance with Article 36 paragraph 4 letter b FinSA must be given in writing or in another form demonstrable via text insofar as it is not con… Direct link
Art. 46 – Equivalence of information and preliminary rulingArt. 46 Equivalence of information and preliminary ruling 1 Information is deemed equivalent in terms of content if it guarantees the investor a level of transparency comparable with the prospectus. 2 A preliminary ruli… Direct link
Art. 47 – Exemption for securities admitted to trading on Swiss trading venues or DLT trading facilitiesArt. 47 Amended by No I 4 of the O of 18 June on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Aug. 2021 (AS 2021 400). Amended by No I 4 of the O of 18 June on the Ada… Direct link
Art. 48 – Recognised foreign trading venue or DLT trading facilityArt. 48 Recognised foreign trading venue or DLT trading facility Term in accordance with No I 4 of the O of 18 June on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Aug… Direct link
Art. 49 – Analogous application of exemptions for admission to tradingArt. 49 Analogous application of exemptions for admission to trading The following exemptions from the duty to publish a prospectus also apply to admission to trading: a. Article 37 paragraph 1 letters a–g FinSA, insofa… Direct link
3Section 2 Requirements
Art. 50 – Contents of prospectusArt. 50 Contents of prospectus 1 The prospectus for securities must contain the minimum information stipulated in Annexes 1–5. The contents of the prospectus for collective investment schemes are governed exclusively by… Direct link
Art. 51 – Accounting requirementsArt. 51 Accounting requirements 1 The issuer or guarantor and security provider must apply an accounting standard which is recognised: a. for the purposes of admission to trading: by the respective Swiss trading venue o… Direct link
Art. 52 – Further exemptions relating to the contents of the prospectusArt. 52 Further exemptions relating to the contents of the prospectus 1 Where there are legitimate grounds for so doing, the reviewing body may to a limited degree depart from the requirements shown in the schemes conta… Direct link
Art. 53 – Inclusion by referenceArt. 53 Inclusion by reference 1 The prospectus may refer to the following reference documents: a. interim financial statements to be presented periodically; b. reports of the auditors and domestic or foreign annual fin… Direct link
Art. 54 – SummaryArt. 54 Summary 1 In addition to the information in accordance with Article 43 paragraph 2 FinSA, the summary shall contain key information: a. on the issuer, namely, its company name, legal form, registered office and… Direct link
Art. 55 – Contents of the base prospectusArt. 55 Contents of the base prospectus 1 The base prospectus shall contain in minimum: a. a summary; b. general information on the issuer and any guarantors or security providers; c. general information on the securiti… Direct link
Art. 56 – The final terms contained in the base prospectusArt. 56 The final terms contained in the base prospectus 1 Final terms must be drawn up for every public offer or every admission to trading of securities issued under a base prospectus and must be published in minimum… Direct link
3Section 3 Relaxations of Requirements
Art. 57Art. 57 1 Relaxations of requirements as well as options for abridging the information in the prospectus are indicated in Annexes 1–5. If a relaxation of requirements is granted, the respective information may be dispen… Direct link
3Section 4 Collective Investment Schemes
Art. 58Art. 58 1 The fund management company and the investment company with variable capital (SICAV) shall state in the prospectus all information material to the assessment of the collective investment scheme (Annex 6). 2 Sp… Direct link
3Section 5 Review of the Prospectus
Art. 59 – Check for completenessArt. 59 Check for completeness 1 The check for completeness of the prospectus in accordance with Article 51 paragraph 1 FinSA is limited to formal compliance with the guidelines in accordance with schemes contained in A… Direct link
Art. 60 – Prospectuses to be reviewed after publicationArt. 60 Prospectuses to be reviewed after publication 1 Securities whose prospectus must, in accordance with Article 51 paragraph 2 FinSA, be reviewed only after publication are designated in Annex 7. Where securities p… Direct link
Art. 61 – Reviewing body responsible for filingArt. 61 Reviewing body responsible for filing 1 The approved prospectus is to be filed with the reviewing body which approved the prospectus. 2 It may be filed in electronic form. Individual documents and reference docu… Direct link
Art. 62 – Confirmation that the most important information is knownArt. 62 Confirmation that the most important information is known 1 Confirmation that the most important information is known in accordance with Article 51 paragraph 2 FinSA is to be sent in writing or in another form d… Direct link
3Section 6 Supplements to the prospectus
Art. 63 – DutyArt. 63 Duty 1 A duty to publish a supplement is triggered by facts which, owing to the concrete circumstances of the particular case, are capable of materially influencing the average market participant in their invest… Direct link
Art. 64 – ReportingArt. 64 Reporting Modalities for reporting to the reviewing body: a. supplements which are required to be reviewed by a reviewing body: by submitting a request for review of the supplement to the reviewing body which ap… Direct link
Art. 65 – RectificationArt. 65 Rectification 1 If the competent reviewing body establishes that a supplement in accordance with Article 64 letter a does not satisfy legal requirements, it will set an appropriate period for rectification. 2 Th… Direct link
Art. 66 – PublicationArt. 66 Publication 1 Article 64 paragraphs 3–7 FinSA apply by analogy to the publication of supplements. The reviewing body shall add the supplements to the list of approved prospectuses. 2 Supplements are to be publis… Direct link
Art. 67 – Addendum to the summaryArt. 67 Addendum to the summary The information contained in the supplement must only be added to a summary if such information relates to details contained in the summary, and only if said summary would be misleading,… Direct link
3Section 7 Review Procedure
Art. 68 – Initiation of the review periodArt. 68 Initiation of the review period The period commences on receipt of the application for review of the complete prospectus. Direct link
Art. 69 – New issuersArt. 69 New issuers 1 In respect of the review of their prospectus (Article 51 paragraph 1 FinSA), an issuer is not deemed to be a new issuer if: a. within the last three years they submitted to the reviewing body, from… Direct link
Art. 70 – Review and recognition of foreign prospectusesArt. 70 Review and recognition of foreign prospectuses 1 The procedure for reviewing foreign prospectuses in accordance with Article 54 paragraph 1 FinSA is based on Article 53 FinSA as well as on Articles 59–62 and 77–… Direct link
3Section 8 Reviewing Body
Art. 71 – Application for a licenceArt. 71 Application for a licence 1 The reviewing body shall submit an application for a licence to FINMA. The application shall contain all details required to assess it, specifically, information on: a. the place of m… Direct link
Art. 72 – Supervision by FINMAArt. 72 Supervision by FINMA 1 The reviewing body shall draw up an annual activity report for submission to FINMA. 2 The activity report must contain the following information insofar as it has not already been made kno… Direct link
Art. 73 – Place of managementArt. 73 Place of management 1 The reviewing body must be domiciled in Switzerland and effectively be managed from Switzerland. 2 If the reviewing body is integrated into an existing legal person, the latter must be domi… Direct link
Art. 74 – OrganisationArt. 74 Organisation 1 The reviewing body must have an appropriate operational organisation which guarantees the independent fulfilment of its tasks. 2 Operations must: a. be set out in organisational regulations; b. en… Direct link
Art. 75 – Delegation of tasksArt. 75 Delegation of tasks 1 The reviewing body may only delegate activities of minor significance to third parties. 2 The third parties must have the necessary skills, knowledge and experience to perform the delegated… Direct link
Art. 76 – Licence costsArt. 76 Licence costs In accordance with the FINMA Ordinance on the Levying of Supervisory Fees and Duties of 15 October 2008SR 956.122, the reviewing body shall bear the costs of: SR 956.122 a. the licensing procedure;… Direct link
Art. 77 – Retention periodArt. 77 Retention period The reviewing body shall retain review documents and records for a period of ten years. Direct link
3Section 9 Fees
Art. 78 – Liability to pay feesArt. 78 Liability to pay fees 1 Anyone who occasions a ruling by the reviewing body or requires a service from the reviewing body is liable to a fee. 2 Insofar as the present Ordinance does not contain any special regul… Direct link
Art. 79 – Fee ratesArt. 79 Fee rates 1 Fees are determined according to the rates under Annex 8. 2 If a range is stipulated in the Annex, the reviewing body will set the fee to be paid within this range on the basis of the average time re… Direct link
2Chapter 2 Key Information Document for Financial Instruments
3Section 1 Duty
Art. 80 – PrincipleArt. 80 Principle 1 The duty to produce a key information document arises as soon as a financial instrument is offered to retail clients in Switzerland. 2 A key information document does not need to be produced for a fi… Direct link
Art. 81 – Collective investment schemes with several subfundsArt. 81 Collective investment schemes with several subfunds For collective investment schemes comprising several subfunds a key information document must be produced for each subfund. Direct link
Art. 82 – Collective investment schemes with several unit classesArt. 82 Collective investment schemes with several unit classes 1 If a collective investment scheme comprises several unit classes, a key information document must be produced for each unit class. Provided the requireme… Direct link
Art. 83 – Portfolio management agreementsArt. 83 Portfolio management agreements The portfolio management agreement within the meaning of Article 58 paragraph 2 FinSA must be concluded for an unlimited number of transactions and in writing or in another form d… Direct link
Art. 84 – Qualified third partiesArt. 84 Qualified third parties 1 A qualified third party is a person who can guarantee that the key information document will be produced to professional standards. 2 The producer is responsible for verifying qualifica… Direct link
Art. 85 – Draft versionArt. 85 Draft version If a key information document contains indicative details, retail clients must be notified accordingly in the key information document. The indicative details must be recognisable as such. Direct link
3Section 2 Exemptions
Art. 86 – Financial instrumentsArt. 86 Financial instruments 1 In addition to those stipulated in Article 59 paragraph 1 FinSA, share-like securities include: a. convertible bonds that can be exchanged for equity securities, where the convertible bon… Direct link
Art. 87 – Equivalence of documents pursuant to foreign legislationArt. 87 Equivalence of documents pursuant to foreign legislation The documents in accordance with Annex 10 are deemed to be documents pursuant to foreign legislation which are equivalent to the key information document… Direct link
3Section 3 Contents, language, layout and scope
Art. 88 – ContentsArt. 88 Contents 1 The contents of the key information document must satisfy the requirements of Annex–9. 2 Special product-specific legislative requirements are reserved. Direct link
Art. 89 – LanguageArt. 89 Language 1 The key information document is to be produced in: a. an official language; b. English; or c. the retail client's language of correspondence. 2 The key information document for collective investment s… Direct link
Art. 90 – Layout and scopeArt. 90 Layout and scope 1 The layout and scope of the key information document must follow the template contained in Annex 9. 2 Clearly legible letters must be used. Direct link
3Section 4 Review and changes
Art. 91Art. 91 1 The information contained in the key information document is to be checked regularly, but at least once a year for as long as the financial instrument is offered to retail clients. 2 The key information docume… Direct link
2Chapter 3 Publication of the prospectus
Art. 92 – ProspectusesArt. 92 Prospectuses 1 Electronically published prospectuses and reference documents referred to shall remain accessible in the same form during the period of validity of the prospectus. During this period a paper versi… Direct link
Art. 93 – Prospectuses of collective investment schemesArt. 93 Prospectuses of collective investment schemes 1 In the case of collective investment schemes, the registered office of the fund management company, the SICAV, the limited partnership for collective investment, t… Direct link
Art. 94 – Changes to the rights associated with securitiesArt. 94 Changes to the rights associated with securities 1 If the conditions at the time of issue of securities which are offered publicly in Switzerland on the basis of a prospectus and which are not admitted to tradin… Direct link
2Chapter 4 Advertising
Art. 95Art. 95 1 Advertising in accordance with Article 68 FinSA is deemed to be any communication which is aimed at investors and serves to draw attention to specific financial services or financial instruments. 2 In and of t… Direct link
2Chapter 5 Offering of Structured Products and Creation of In-House Funds
Art. 96Art. 96 1 A portfolio management or investment advice relationship within the meaning of Article 70 paragraph 1 and Article 71 paragraph 1 letter a FinSA must be concluded for an unlimited number of transactions and in… Direct link
1Title 4 Provision of Documents
Art. 97Art. 97 1 If a client requests a copy of their file in accordance with Article 72 FinSA, it will be provided to them on a durable data medium. 2 If the client demands this copy a further time without sufficient reason,… Direct link
1Title 5 Ombudsman's Offices
Art. 98 – CompetenceArt. 98 Competence Mediation proceedings shall be conducted by the ombudsman's office to which the client's financial service provider is affiliated. Current article Direct link
Art. 99 – FinancingArt. 99 Financing 1 The ombudsman's office or an industry organisation designated by it shall levy from the financial service providers affiliated to it fees to cover all costs incurred by it in the execution of its sta… Direct link
Art. 100 – AdmissionArt. 100 Admission 1 The organisational regulations of the ombudsman's office may provide that financial service providers are affiliated individually or, by virtue of their membership of an industry organisation, as a… Direct link
Art. 101 – Requirements for recognitionArt. 101 Requirements for recognition 1 Ombudsman's offices must have sufficient financing to perform their task. This financing should cover their total costs and secure the creation of appropriate reserves. 2 Ombudsma… Direct link
1Title 6 Final Provisions
2Chapter 1 Amendment of Other Legislative Instruments
Art. 102Art. 102 The amendment of other legislative instruments is set out in Annex 11. Direct link
2Chapter 2 Transitional Provisions
Art. 103 – Client segmentationArt. 103 Client segmentation 1 Financial service providers have a duty in connection with client segmentation to implement the present Ordinance within two years of its entry into force. 2 Portfolio managers who are mem… Direct link
Art. 104 – Required knowledgeArt. 104 Required knowledge Client advisers must possess the required knowledge within two years of entry into force of the present Ordinance. Direct link
Art. 105 – Code of conductArt. 105 Code of conduct 1 Financial service providers must satisfy the duty to provide information, review, document and render account as well as the duty to ensure transparency and care in client orders in accordance… Direct link
Art. 106 – OrganisationArt. 106 Organisation 1 Financial service providers must satisfy the organisational requirements in accordance with Articles 21–27 FinSA within two years of entry into force of the present Ordinance. 2 Financial service… Direct link
Art. 107 – Registration bodyArt. 107 Registration body If on entry into force of the FinSA there is no corresponding registration body in place, the period for registration with the registration body will commence only after licensing of a registr… Direct link
Art. 108 – Ombudsman's officesArt. 108 Ombudsman's offices If on entry into force of the FinSA there is no corresponding ombudsman's office in place, the period for affiliation will commence after recognition of the ombudsman's office by the FDF or… Direct link
Art. 109 – Prospectus for securitiesArt. 109 Prospectus for securities 1 In the case of securities for which a public offer was made or a request was made for admission to trading on a trading venue or DLT trading facility, the duty to publish an approved… Direct link
Art. 110 – Key information document for real estate funds, securities funds and other funds for traditional investmentsArt. 110 Key information document for real estate funds, securities funds and other funds for traditional investments Until 31 December 2022: Amended by No I of the O of 3 Dec. 2021, in force since 1 Jan. 2022 (AS 2021… Direct link
Art. 111 – Key information document for structured products and other financial instrumentsArt. 111 Amended by No I of the O of 3 Dec. 2021, in force since 1 Jan. 2022 (AS 2021 835). Amended by No I of the O of 3 Dec. 2021, in force since 1 Jan. 2022 (AS 2021 835). Key information document for structured prod… Direct link
2Chapter 3 Commencement
Art. 112Art. 112 This Ordinance enters into force on 1 January 2020. Direct link
Annexes11
Minimum content of the prospectus Scheme for equity securitiesAnnex 1 (Art. 50, 54 and 57) Minimum content of the prospectus Scheme for equity securities 0 Relaxations of requirements and information on the first page 0.1 Relaxations of requirements Relaxations of requirements in…Direct link
Minimum content of the prospectus Scheme for debt instruments (without derivatives)Annex 2 (Art. 50, 54 and 57) Minimum content of the prospectus Scheme for debt instruments (without derivatives) 0 Relaxations of requirements and information on the first page 0.1 Relaxations of requirements Relaxation…Direct link
Minimum content of the prospectus Scheme for derivativesAnnex 3 (Art. 50, 54 and 57) Minimum content of the prospectus Scheme for derivatives 0 Relaxations of requirements and information on the first page 0.1 Relaxations of requirements Relaxations of requirements in accord…Direct link
Minimum content of the prospectus Scheme for real estate companiesAnnex 4 (Art. 50, 54 and 57) Minimum content of the prospectus Scheme for real estate companies 0 Relaxations of requirements and information on the first page 0.1 Relaxations of requirements Relaxations of requirements…Direct link
Minimum content of the prospectus Scheme for investment companiesAnnex 5 (Art. 50, 54 and 57) Minimum content of the prospectus Scheme for investment companies 0 Relaxations of requirements and information on the first page 0.1 Relaxations of requirements Relaxations of requirements…Direct link
Minimum content of the prospectus Scheme for collective investment schemesAnnex 6 (Art. 58) Minimum content of the prospectus Scheme for collective investment schemes 1 Information on the collective investment scheme 1.1 date of establishment and indication of the country in which the collect…Direct link
Securities whose prospectus must, in accordance with Art. 51 paragraph 2 FinSA, be reviewed only after publicationAnnex 7 (Art. 60) Securities whose prospectus must, in accordance with Art. 51 paragraph 2 FinSA, be reviewed only after publication 1 Bonds in accordance with Article 3 letter a item 7 FinSA, including: 1.1 Convertible…Direct link
Scale of fees for rulings and services provided by the reviewing bodyAnnex 8 (Art. 79) Scale of fees for rulings and services provided by the reviewing body 1 Rates in Swiss francs 1.1 Ruling on the review of a one-part prospectus 2,000–10,000 1.2 Ruling on the review of a registration f…Direct link
Key information documentAnnex 9 (Art. 88 and 90) Key information document 1 Requirements of form 1.1 Producers must follow the sequence and headings as provided in the template. 1.2 There are no requirements regarding the sequence of informati…Direct link
Documents pursuant to foreign legislation which are equivalent to the key information documentAnnex 10 (Art. 87) Documents pursuant to foreign legislation which are equivalent to the key information document 1. Key information documents pursuant to Regulation (EU) No 1286/2014 and Delegated Regulation (EU) No. 2…Direct link
Amendment of Other Legislative InstrumentsAnnex 11 (Art. 102) Amendment of Other Legislative Instruments ...Direct link

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