Financial Services Ombudsman

Affiliation

FINSOM Affiliation

FINSOM

 

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 FINSOMCompanies 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 deadline for resignation is September 30 for December 31.

Affiliate companies must comply with FINSOM regulations.

Fees


Annual Contribution

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

A 10% discount is granted to a group if the group organises the collection of the annual base tax and transfers it to FINSOM in accordance with Art. 99 FinSO.

Procedural fees

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.

FINSOM’s procedure is free of charge for the client or employee but FINSOM does not admit obviously vexatious requests to mediation. A mediation procedure doomed to failure must also be refused or interrupted.