CAPSTONELAW Zurich – COURSE OFFERING
Initial Training for client advisers in the field of FinSA Rules of Conduct
CAPSTONELAW is offering an initial training course for client advisers who must be entered in a Register of Advisers in accordance with Art. 28 et seq. of the Federal Act on Financial Services of 15 June 2018 (“FINSA”). To this end, CAPSTONELAW has been accredited by BX Swiss AG, the first FINMA-approved Registration Body, as a provider of accepted initial training in the field of the FINSA Rules of Conduct and was added to the corresponding list of BX Swiss AG
Background – Need for action for client advisers
Client advisers of Swiss financial service providers not subject to supervision as well as of certain foreign financial service providers may only carry out their activity in Switzerland if they are entered in a Register of Advisers. This registration requirement applies in particular to client advisers who provide financial services that are not in themselves an activity requiring authorization, for instance investment advice or the acquisition or disposal of financial instruments for clients (formerly known as “distribution”). If you are in doubt whether or not you are subject to the duty to register, CAPSTONELAW will be pleased to assist you.
The Register of Advisers is maintained by a Registration Body approved by the Swiss Financial Market Supervisory Authority FINMA. BX Swiss AG, Zurich, has been approved as of 20 July 2020 as first Registration Body. With that approval, a 6-month transition period initiated. Hence, the client advisers concerned have until 19 January 2021 to submit an application to the Registration Body for entry in the Register of Advisers. However, the proof of the required knowledge according to Art. 6 FINSA (see below) can still be provided retrospectively throughout the entire year 2021.
The conditions for registration in the Register of Advisers are met by anyone who can provide the following evidence:
- the existence of a professional indemnity insurance or that equivalent collateral exists;
- affiliation to an Ombudsman’s Office;
- absence of exclusion criteria (relevant criminal conviction, activity ban, ban on practicing a profession);
- Existence of the required knowledge according to art. 6 FINSA, i.e. (i) the expertise required to perform the activities and (ii) sufficient knowledge of the rules of conduct set out in the FINSA for rendering financial services. Thereby, expertise and knowledge of the rules of conduct must be evidenced separately.
The course “CAPSTONELAW – Initial Training in the field of FINSA Rules of Conduct” is structured as follows:
Training institute / Place:
CAPSTONELAW, Gartenstrasse 11, 8002 Zurich (Enge)
Nature of the course:
Classroom course “CAPSTONELAW – Initial Training in the field of FINSA Rules of Conduct” in the business premises of CAPSTONELAW with a maximum of 4 participants per course. The knowledge transfer is carried out by one of CAPSTONELAW’s partners.
Upon request, the course may be held over video conference. If there are at least 4 participants, we will gladly hold the training in your business premises.
Duration of the training:
one half day (4.5 hours)
German; upon request, also in English
each of the following Fridays from 8.30 to approximately 13.00 o’clock
15 January 2021
22 January 2021
29 January 2021
5 February 2021
12 February 2021
5 March 2021
and, for groups of at least 4 participants, by individual arrangement
CHF 490.- per participant
Form of evidence:
|Rules of Conduct in the narrower sense (pursuant to art. 7-19 FinSA)
|Conflicts of interest (particularly own-account transactions and retrocessions)||30’|
|Introduction to the Register of Advisers; particularly adviser’s duties||20’|
|Financial Institutions Act (FinIA): Introduction / activities which require authorization||20’|
|Agency matters (Code of Obligations)||15’|
|Collective Investment Schemes Act: particular provisions on foreign collective investment schemes||20’|
|Prospectus and Key Information Document||30’|
|Total (break not included)||270’|
The content of this publication does not constitute legal or tax advice and may not be used as such. If you would like advice based on your circumstances, please contact one of the people at CAPSTONELAW listed above.