November 2017

The purpose of this Newsflash is to provide an update on the proposed new Swiss legislation on financial services (“FFSA”) and on the supervision of financial institutions (“FAFI”). The National Council and the Council of States, the two chambers of the Swiss Parliament, both reviewed the drafts FFSA and FAFI. During the last parliamentary session, the Commission in charge to review the remaining differences between the versions of the two chambers was not in a position to finalize its deliberations. This delay will certainly postpone the entry into force of the FFSA and the FAFI.