August 2017

Our latest Newsflash is meant to provide an update on the proposed new Swiss legislation on financial services and the supervision of financial institutions.

This new legislation will be embodied in the Swiss Federal Financial Services Act (“FFSA”) and the Swiss Federal Act on Financial Institutions (“FAFI”). The Commission on Financial Affairs of the National Council has now finalized its deliberations on the drafts of the FFSA and FAFI and resolved on August 14 and 15, 2017 to submit the new legislation to the National Council for debate and discussion. This decision follows the first round of the Parliament debates which took place in the Council of States at the end of 2016.