Switzerland has been a leader in banking innovation for years. As the adoption of digital assets in financial services kicks into high gear, Switzerland continues to pave the way for their full, secure application and regulation. What specific tactics are Swiss banks and regulators employing to navigate the digital-assets environment?
The New Swiss Rules for International Financial-Services Providers Having Clients in Switzerland and Producers of Financial Instruments for the Swiss Market
With the introduction of the Financial Services Act (FinSA) in Switzerland, the regulatory noose is tightening for international providers of financial services to Swiss clients. Although FinSA will not be fully implemented until January 1, 2020, preparations are well underway, and affected providers will need to study up on the new rules to ensure they are in full compliance—or face punishing penalties.