New Swiss Rules for international Financial Service Providers

The new Swiss Financial Services Act (FIDLEG) and the Financial Services Ordinance (FIDLEV) are expected to enter into force on 1 January 2020 and will for the first time apply to international financial services providers that provide cross-border financial services from abroad for Swiss private, business and institutional clients. For the first time, the production of financial instruments for the Swiss market will also be subject to comprehensive regulation by international providers. The purpose of the FIDLEG is to create uniform competitive conditions for financial intermediaries, to strengthen client protection and to harmonize the licensing rules for financial service providers.

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