Public interest

FINSOM aims to establish an independent, impartial, specialised, transparent and publicly accessible “mediation body” (or “mediation office”). It exists and acts on the basis of a legal mandate granted by the Federal Department of Finance (FDF) under the Financial Services Act (FinSA), but may also carry out other similar activities on a private mandate provided that these do not give rise to a conflict of interest. It is a non-profit organisation, does not operate on a commercial basis and acts in the public interest. 

Through its activities, FINSOM contributes to: 

• Creating a favourable environment for the private sector.
• The regulation of the Swiss financial market in the public interest and with respect for the principle of proportionality.
• The efficient and effective supervision of the Swiss financial market. 
• The relief of the burden on conciliation, judicial and administrative authorities. 
• The reduction of healthcare costs.

Activities

• Provide general information on complaint handling and conflict or dispute resolution in the Swiss financial sector.
• Preliminary review of complaints or mediation requests.
• Organising and conducting mediation procedures.
• Guarantee the technical skills of the people designated to conduct mediation procedures or carry out independent material and legal assessments.
• Publication of an annual activity report.
• Contribution to the supervision and regulation of the financial sector.
• Managing affiliations of companies that join by legal obligation or voluntarily.

Excluded activities

• Any activity carried out for profit.
• Provide financial, legal or other advice.
• Represent parties in a conflict or dispute.
• Conduct investigations, issue judgements or sanctions.
• Distribution of third party products or services, including advertising.

Supervision

• Tax authority of the Canton of Valais
• Federal Department of Finance (FDF)