FINSOM Affiliation
FINSOM is the mediation body for providers that put clients and enterprise risk management at the heart of their concerns. Over 1000 Swiss and foreign companies operating in the Swiss financial sector have already chosen to affiliate to FINSOM.
General Conditions
Providers whose activity is subject to a type of FINMA authorisation or registration with a FinSA-registration body or (“FinSA Register”) can affiliate to FINSOM.
The company can be:
- Domiciled in Switzerland or abroad.
- A sole proprietorship.
- In the process of incorporation, authorisation or registration.
Affiliation can be:
- By legal obligation or by self-regulation (voluntary). Note: the legal obligation also applies when the company serves private clients that “opt-out”.
- Activated the current civil year (immediate affiliation) or the following civil year (anticipated affiliation).
- Resigned each year until December 31st (resignation deadline).
Affiliate providers must comply with FINSOM regulations.
Fees
Each affiliated company pays a contribution of CHF 250 per civil year for Commercial Mediation/FinSA. For an additional fee of CHF 50 per civil year, Workplace Mediation/EmpA can be added.
- The hotline and preliminary review of requests for mediation.
- Mediation available in up to 4 languages (EN, FR, DE, IT).
- Access to the E-learning “The FinSA Ombudsman Office and Risk Management”.
- Annual reminder of the resignation deadline.
- If a request for mediation is admitted following the preliminary review and FINSOM contacts the affiliated company, the case fee is CHF 550.
- If mediation continues after an initial exchange with each party, the hourly rate is CHF 200.
The procedural costs are borne by the affiliated company, provided that no conciliation authority, court, court of arbitration or administrative authority is or has been seized of the case, and that mediation hasn’t already been attempted in the case. Otherwise, the costs are shared between the parties.