The new Swiss Financial Services Act (FinSA) which came into force on 1 January 2020, introduced new provisions for cross-border financial services for international banks operating in the Swiss market. These include obligations to avoid conflicts of interests and other organisational requirements to align the country’s regulatory framework with Europe.
SRP spoke to Dr. Martin Liebi (pictured) , head of capital markets legal, PwC, Switzerland, about the implementation of the new rules and their impact. “For the first time, financial services in Switzerland are regulated by one law overarching investment advice, asset management, execution-only transactions, distribution of financial instruments as well as credit activities related to the execution of transactions in financial instruments,” says Dr. Liebi. The new
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