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/LL.
- 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 (MLA).
General Conditions
Companies that are members of an MLA self-regulatory organisation (SRO) or authorised by FINMA as well as client advisors, distributors or brokers listed in a register recognised by FINMA, can be affiliated to FINSOM. Companies in the process of becoming member of an SRO-MLA, applying for a FINMA authorisation or entering a register recognised by FINMA, can also affiliate to FINSOM.
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
Regardless of any mediation procedures, each affiliated company pays an annual base tax, per calendar year and type of mediation, of CHF 250 for Commercial/FinSA or Workplace/LL Mediation, or CHF 500 for both.
According to law and FINSOM’s rules of procedure, the procedural fees payable by the affiliated company concerned are CHF 550 per case or CHF 200 per hour depending on the complexity of the case.