Renewal of the entry in the Client Advisor Register
The time will come soon when the first client advisors will have to renew their initial entry in the Client Advisor Register. Below we briefly inform you about the most important requirements and deadlines in this regard.
According to Art. 41 para. 2 of the Financial Services Ordinance (FinSO), the registration in the Client Advisor Register must be renewed at the latest after 24 months from the date of the initial entry (date of the decision of the registration office). The renewal of the application extends the entry in the Client Advisor Register by a further 24 months.
Client advisors who are registered in the Client Advisor Register of the registration office of BX Swiss can renew their registration from probably mid-May 2022 via their respective online profile on the online platform of BX Swiss.
The following information and documents are required or must be confirmed for the renewal of the registration:
- Confirmation of personal details (address, e-mail, etc.)
- Confirmation that there is no criminal conviction for asset offences (in the case of new entries in the criminal record, a current extract from the criminal record must be submitted instead)
- Confirmation of the fields of activity according to Art. 3 lit. c FIDLEG
- Submission of proof of knowledge of the rules of conduct (namely proof of completion of a refresher course accepted by BX Swiss AG (see list here); the proof must not be older than 2 years)
- Confirmation of professional knowledge
- Confirmation of employer information
- Confirmation of function and position
- Confirmation of professional liability insurance or equivalent financial security (new proof must be submitted only in case of changes)
- Confirmation of the ombudsman office
The registration renewal function will be enabled on the BX Swiss online platform in the coming months, currently it is not yet accessible. The renewal of the registration can be requested at the earliest 3 months before the expiry of the individual 24-month period and must be submitted via the BX Swiss online platform at the latest 24 months after the initial registration.
The fee for the renewal of the registration is CHF 500 and can be paid via credit card payment or Twint. Financial service providers who have registered several client advisors and wish to pay the fees by invoice can obtain a Corporate Registration Code in advance (please request by e-mail to firstname.lastname@example.org).
IMPORTANT! Please note: If the renewal of the registration is not applied for in due time, the client advisor will automatically be deleted from the client advisor register. For a renewed registration after the deadline, a complete registration with costs must be made (all information and documents must be made or submitted again).
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