The Swiss Financial Services Act (FINSA) requires that registered financial service providers and advisors join a mediation body for any dispute with their clients.
All financial service providers active in Switzerland, including foreign financial service providers whose clients are in Switzerland, are legally obliged to join a mediation body by December 24, 2020 at the latest.
The registration of advisors cannot be processed without an affiliation to a mediation body, which must be maintained for as long as the registration.
Mediation bodies are approved by the Swiss Federal Department of Finance (FDF) and are subject to special obligations, in particular to provide appropriate mediation methods, to inform the registration body of financial services providers or customer advisors who have joined them, or whose membership has been refused, or whose membership has been terminated.
To date, the following mediation bodies have been authorised by the FDF:
8050 Zurich www.schlichtungsstelle.li
Boulevard du Théâtre 4
case postale 5039
CH-1211 Genève 11
ARIF does not recommend any mediation body in particular. However, we are aware that some of them can offer advantageous rates for the advisers registered in ARIF’s register of advisers, and the financial service providers employing them. These conditions are generally indicated on the website of the mediation bodies, or during the process of affiliation to the mediation body.