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As an independent supervisory authority, FINMA’s mandate is to protect creditors, investors and insured persons against the consequences of a company becoming insolvent, unfair commercial practices or unequal treatment. At the same time, FINMA is responsible for ensuring that the…

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FINMA's 10 tips on how investors can protect themselves from unscrupulous providers. What they should do if they have fallen victim to illegal or fraudulent activity. What they can do if an authorised provider doesn't meet their expectations. If in…

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FINMA issues warning about the misuse of public register entries of insurance intermediaries. FINSOM reminds that the same can happen with public register entries of client advisers of financial service providers and financial institutions authorised by FINMA. FINMA News November…

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In partnership with Indigita, FINSOM launches the online training course "The FinSA Ombudsman Office and Risk Management". The aim of this E-learning course is to raise awareness of the development of Alternative Dispute Resolution (ADR) in the Swiss financial sector and the…

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Since 1 January 2023, financial service providers in Switzerland are obliged to affiliate to an ombudsman office recognized by the Federal Department of Finance (FDF). The introduction of eight different ombudsman offices has raised questions among financial service providers.  We…

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As of 1st September 2023, identity theft is punishable in Switzerland. Article 179decies of the Swiss Penal Code: Anyone who uses the identity of another person without his or her consent, in order to harm that person or to procure for…

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From 1 January 2020, the Financial Services Act (FinSA) and the Financial Institutions Act (FinIA) require professionals in the Swiss financial sector to affiliate to a mediation body within six months of its recognition by the Federal Department of Finance.…

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The Ombudsman Office FINSOM, recognised by the Federal Department of Finance (FDF) in accordance with the Financial Services Act (FinSA) in force since 1 January 2020 and supported by SAIFA, has just published its first Annual Public Report. Here are…

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We are delighted to announce that M. Alessandro Bizzozero, Founding Partner and Chairman of BRP Bizzozero & Partners SA, joined FINSOM's General Assembly on 25 May 2022. Alessandro replaces M. Jean-Daniel Balet, Partner and Director of BCB Asset Management SA. The…

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Switzerland recently introduced a new mediation system for financial services disputes as part of its measures to improve investor protection. Under Swiss law, financial services providers are now required, among other things, to affiliate to an Ombudsman Office (or a…

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