FINSOM Affiliation
FINSOM
- Ombudsman office recognised by the Federal Department of Finance (FDF).
- Member of the International Network of Financial Services Ombudsman Schemes : INFO-Network.
- Affiliate of the Financial Dispute Resolution Network : FIN-NET.
- First tax-exempt ombudsman office of the Swiss financial sector.
- Independent of individuals, private interest groups and the public administration.
- Choice of : Commercial Mediation/LSFin and/or Workplace Mediation.
- Mediation available remotely and in person, in 4 languages, with specialised mediators.
- +1’000 affiliated advisers (FinSA), insurance intermediary (IOA), financial institutions (FinIA), banks (BA) and financial intermediaries (AMLA).
General Conditions
Companies subject to a self-regulatory organisation (AML-SRO) or a FINMA authorisation, or whose client advisors are entered in a register recognised by FINMA, can affiliate to FINSOM. The company can be in the process of incorporation, authorisation, or registration at the time of affiliation.
Affiliation can be by legal obligation (mandatory, e.g. condition for FINMA authorisation or registration in a Register of Advisers) or by self-regulation (voluntary).
The affiliation is in the name of the affiliated company and for an indefinite period.
The resignation deadline is September 30th for December 31st.
Affiliate companies must comply with FINSOM regulations.
Fees
Depending on the selected type of mediation, each affiliated company pays an annual fee of CHF 250 for Commercial Mediation/FinSA or Workplace Mediation, or CHF 500 for both.
If a request for mediation is admitted following the preliminary review, 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.