The Financial Services Act (FIDLEG) and the Financial Institutions Act (FINIG) will enter into force on 1 January 2020. The FIDLEG provides for rules of conduct for financial service providers that are more restrictive the higher the need for customer protection. The FINIG aims at a predominantly uniform supervisory regime for all financial service providers. Financial service providers not previously supervised are now subject to authorisation by FINMA, the Financial Market Supervisory Authority. Independent asset managers and trustees in particular are newly affected by the licensing requirement.
FINSA & FINIA come into force.
What impact does FIDLEG & FINIG have on the core process of your company? CapstoneLaw supports financial service providers in mastering this challenge and efficiently integrating regulatory innovations into existing processes.