CAPSTONLAW newly accredited provider of initial training in the field of FinSA Rules of Conduct
CAPSTONELAW Zurich is offering an initial training course for client advisers who must be entered in a Register of Advisers in accordance with Art. 28 et seq. of the Federal Act on Financial Services of 15 June 2018 (“FinSA”). To this end, CAPSTONELAW Zurich has been accredited by BX Swiss AG, to date the only FINMA-approved Registration Body, as a provider of accepted initial training in the field of the FinSA Rules of Conduct and was added to the corresponding list of BX Swiss AG on 19 August 2020 [https://www.regservices.ch/en/required-knowledge/].
Background – Need for action for client advisers
Client advisers of Swiss financial service providers not subject to supervision as well as of certain foreign financial service providers may only carry out their activity in Switzerland if they are entered in a Register of Advisers. This registration requirement applies in particular to client advisers who provide financial services that are not in themselves an activity requiring authorization, for instance investment advice or the acquisition or disposal of financial instruments for clients (formerly known as “distribution”). If you are in doubt whether or not you are subject to the duty to register, CAPSTONELAW will be pleased to assist you.
The Register of Advisers is maintained by a Registration Body approved by the Swiss Financial Market Supervisory Authority FINMA. BX Swiss AG, Zurich, has been approved as of 20 July 2020 and is, to date, the only approved Registration Body. With that approval, a 6-month transition period initiated. Hence, the client advisers concerned have until 19 January 2021 to submit an application to the Registration Body for entry in the Register of Advisers.
- The conditions for registration in the Register of Advisers are met by anyone who can provide the following evidence:
- the existence of a professional indemnity insurance or that equivalent collateral exists;
- affiliation to an Ombudsman’s Office;
- absence of exclusion criteria (relevant criminal conviction, activity ban, ban on practicing a profession);
- Existence of the required knowledge according to art. 6 FinSA, i.e. (i) the expertise required to perform the activities and (ii) sufficient knowledge of the rules of conduct set out in the FinSA for rendering financial services. Thereby, expertise and knowledge of the rules of conduct must be evidenced separately.
Training Offering: CAPSTONELAW – Initial training in the field of FinSA Rules of Conduct
As mentioned, CAPSTONELAW has been accredited by BX Swiss AG as provider of the course “CAPSTONELAW – Initial Training in the field of FinSA Rules of Conduct”. This means that the completion of the course, i.e. the certificate issued on completion of the course, is accepted by BX Swiss AG as proof of the necessary knowledge in accordance with Art. 6 FinSA in the field of the FinSA Rules of Conduct.
The course “CAPSTONELAW – Initial Training in the field of FinSA Rules of Conduct” is structured as follows
Form of evidence:
Course participants will receive an individualized certificate which will indicate the course attendance, date, duration and content of the course.
each of the following Fridays from 9.30 to approximately 13.00 o’clock
11 September 2020
25 September 2020
9 October 2020
23 October 2020
6 November 2020
20 November 2020
and, for groups of at least 4 participants, by individual arrangement
German; upon request, also in English
Training institute / Place:
CAPSTONELAW, Gartenstrasse 11, 8002 Zurich (Enge)
Nature of the course:
Classroom course “CAPSTONELAW – Initial Training in the field of FinSA Rules of Conduct” in the business premises of CAPSTONELAW with a maximum of 6 participants per course. The knowledge transfer is carried out by one of CAPSTONELAW’s partners.
Upon request, the course may be held over video conference. If there are at least 4 participants, we will gladly hold the training in your business premises.
Duration of the training:
one half day (4.5 hours)
|Rules of Conduct in the narrower sense (pursuant to art. 7-19 FinSA)
|Conflicts of interest (particularly own-account transactions and retrocessions)||30’|
|Introduction to the Register of Advisers; particularly adviser’s duties||20’|
|Financial Institutions Act (FinIA): Introduction / activities which require authorization||20’|
|Agency matters (Code of Obligations)||15’|
|Collective Investment Schemes Act: particular provisions on foreign collective investment schemes||20’|
|Prospectus and Key Information Document||30’|
|Total (break not included)||270’|