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/EmpA.
- Mediation available remotely and in person, in 4 languages (EN, FR, DE, IT).
- Mediation team with proven experience in the financial sector.
- E-learning (45-60min) “The FinSA Ombudsman Office and Risk Management”.
- +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 advisers 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. The company may be domiciled in Switzerland or abroad.
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).
If the company has already started its activities in Switzerland and does not have an Ombudsman Office, it can affiliate as of the current year (immediate affiliation). If the company has not initiated its activities in Switzerland yet or if it is changing Ombudsman Offices, it can affiliate with an activation the following year (anticipated affiliation). See art. 77 FinSA concerning the timing of the obligation to affiliate.
The affiliation is for an indefinite period. It can be resigned each year by September 30th for December 31st (resignation deadline).
Affiliate companies must comply with FINSOM regulations.
Fees
Each affiliated company pays an annual contribution of CHF 250 for Commercial Mediation/FinSA.
Workplace Mediation/EmpA can be added for an additional fee of CHF 50.
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.