On 25 Septembre 2020, an amendment to art. 77 of the FInancial Services Act (FinSA) and to art. 16 of the FInancial Institutions Act (FinIA) was adopted. Providing financial services exclusively to professional or institutional clients will be exempt from the obligation of affiliation to a mediation body. A referendum deadline of 100 days applies. In the absence of a referendum, the legislative amendments are expected to come into force in January 2021.

Leave a Reply

Your email address will not be published. Required fields are marked *

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>