Online Tools

FinSA / FinIA Assessment


Starting position

On 15 June 2018, Parliament adopted the Financial Services Act (FinSA) and the Financial Institutions Act (FinIA). The associated ordinances were published on 24 October 2018.

The purpose of FinSA is the cross-sector regulation of financial products and services, as well as their distribution. FinSA is also intended to improve and standardise customer protection. The Act is based on the European MiFID II Directive, but it differs in some areas (or goes less far than MiFID II).

The FinIA introduces a licensing requirement for asset managers and trustees, and combines the licensing rules for managers of collective assets, fund management companies and securities firms (securities dealers) in one uniform piece of legislation.

The most important client protection provisions of the FinSA must have been implemented by January 2020. In order to comply with the FinIA's corporate governance regulations, the regulator grants asset managers and trustees a three-year transitional period.

How can you prepare yourself as a financial services provider for the imminent changes in order to continue successfully providing services to your clients?


Objective & scope 

The FinSA/FinIA Assessment of GWP aims to provide the financial industry with pragmatic answers to the following important questions:

For all affected sectors of the financial industry (banks, collective asset managers, asset managers, trustees):

  • Determination of your company's position in connection with the provisions of the FinSA; presentation of action points per subject area using a heat map.
  • Identification of pragmatic implementation options to fulfil the provisions of the FinSA, including an estimate of the potential cost impact.

Additionally for asset managers and trustees:

  • Evaluation of your company with respect to the corporate governance requirements of the FinIA; presentation of action points per subject area by means of a heat map.
  • Identification of pragmatic implementation options to meet the FinIA requirements, including an estimate of the potential cost impact.

The following topics are covered by approximately 40 questions on the FinSA and 20 questions on the FinIA, which are organised along the service chain in the context of customer care (FinSA) and along your business model / corporate governance (FinIA):

  • Client onboarding
  • Investment advisory and asset management activities
  • Execution & Reporting
  • Business model & Corporate Governance

 




Time effort

You can easily click through the self-assessment questions on your computer. Answering the questions takes about 30 to 45 minutes. In the course of an evaluation session of approximately 2 hours, we will present you the target status under FinSA/FinIA, show you your potential need for action per subject area and discuss possible implementation options with you.


Costs

CHF 1‘250.- excl. VAT and any travel expenses


Data protection

The data sent to us will of course be treated with absolute confidentially. This data will only be used for the preparation of the evaluation presentation for your company.

 

Our specialists would be happy to assist you





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