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The new Financial Institutions Act (FinIA/FINIG) – Impact on the Activities of Trustees

Posted by on 5 October 2018

To date, independent trustees in Switzerland are regularly not recognised as such on a supervisory basis. This will change with the implementation of a new supervisory legislation, presumably from 1 January 2020.


At the beginning of November 2015, the Swiss Federal Council issued its report on a new Financial Services Act (FinSA/FIDLEG) and on a new Financial Institutions Act (FinIA/FINIG). After extensive parliamentary consultations and amendments, both acts were adopted by the Parliament on 15 June 2018. The referendum period expired on 4 October 2018. The purpose of the FinSA/FinIA is to strengthen client protection on the Swiss financial market and to promote the competitiveness of the financial centre. Furthermore, a level playing field for the performance of financial services shall be introduced for all market participants and a coherent and appropriate supervision of the operation of the asset management business shall be established.

Since FinIA also includes trustees, they will in future be subject to prudential supervision and authorisation requirements not only with regard to combating money laundering and terrorist financing, but also with regard to their actual business activities.

We have prepared a PDF which gives more insights about the following points:

  1. Current Legal Situation and Planned Legislation
  2. Regulatory Registration of Trustees
  3. Professional Activity
  4. Authorisation Requirements for Domestic Trustees
  5. Other / Miscellaneous
  6. Conclusions

Click on the button below to dowonload the PDF:

Download pdf 

If you liked this article, you might also be interested in reading about:

FinSA / LSFin / FIDLEG: Requirements for Financial Service Providers, by Laetitia Meier Droz and Jérôme Pidoux

FinSA / FinIA: A new Financial Service Regime for Switzerland - What will change?, by Dunja Koch and Laetitia Meier Droz


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Topics: Private Clients | Banking & Finance | Capital Markets

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Oliver Arter

Oliver Arter’s practice focuses on private clients and their advisers (banks, family offices, foreign advisers) in all aspects of domestic and international wealth planning. He also specialises in banking, asset management and regulatory matters. Oliver became of counsel in June 2009. His work involves representing and advising private clients on the structuring of assets (trusts, foundations, international business corporations), domestic and international estate planning, division of estates, execution of wills, matrimonial property rights, advance care directives and living wills, taking up residence and taxation. In addition he advises Swiss and international banks, asset managers, investment advisers and family offices on regulatory and contractual matters and represents them in proceedings. He publishes extensively in all his fields of practice. Oliver is an academic consultant with the Institute for Legal Theory and Legal Practice at the University of St Gallen, and is frequently invited to give lectures and chair conferences. Oliver Arter graduated with a law degree from the University of St Gallen in 1996 and was admitted to the Zurich Bar in 2000. His working languages are German, English and French. He is a member of the Zurich Bar Association, the Swiss Bar Association, the Society of Trust and Estate Practitioners (STEP), the International Tax Planning Association (ITPA) and the Banking Law Association (“Bankenrechtliche Vereinigung e.V.”). Chambers Global, Chambers Europe, Chambers High Net Worth and Legal500 have ranked him for many years in a row as a leader in the field of private client.

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