15 Jun “Die is cast” for FinSA and FinIA
15.06.2018 – After around two and a half years of debate, the Swiss Parliament adopted the Financial Services Act (FinSA or FIDLEG) and the Financial Institutions Act (FinIA or FINIG) in today’s final vote.
The new laws are subject to an optional referendum. It is expected that the Federal Council will put the acts into force as of the beginning of 2020 with certain transition periods.
The Federal Council is expected to open the public consultation on the implementing ordinances in autumn 2018.
Our partners are members of various official working groups of the Swiss Funds & Asset Management Association SFAMA and Swiss Structured Products Association SVSP and will continue to actively monitor and contribute to the public consultation on the new and amended ordinances of the Federal Council and, as the case may be, of the Swiss Financial Market Supervisory Authority FINMA. Financial service providers and financial institutions will be able to make a thorough assessment of the new and amended regulatory requirements and define a clear implementation roadmap on the basis of the detailed rules at the ordinance level.
Find a complete chronology of the legislative process and the comprehensive legislative materials regarding FinSA and FinIA in the following overview:
HSW Legal Übersicht Gesetzgebungsprozess und Materialien FIDLEG und FINIG (available in German only)