A long way to investor protection – treatment of FinSA and FinIA in the Parliament’s summer session

On 29 May 2018, the National Council discussed the remaining differences between the two parliamentary chambers in the FinSA and FinIA legislative package. For most of the differences an agreement could be found and the National Council followed the propositions made by the Council of States.

FIDLEG / FINIG: Anträge der Kommission (WAK-N)

Die Kommission für Wirtschaft und Abgaben des Nationalrates (WAK-N) hat am 26. März 2018 die Vorlage FIDLEG / FINIG vorberaten und dabei ihre Empfehlungen für die in der Sommersession folgende Differenzbereinigung im Nationalrat beschlossen.

FIDLEG / FINIG: Stände- und Nationalrat weiter uneins

Am 7. März 2018 diskutierte der Ständerat die verbleibenden Differenzen im FIDLEG / FINIG zum Nationalrat. Er folgte dabei weitgehend den Anträgen der vorberatenden Kommission (WAK-S), beharrte aber auf wichtigen Differenzen, welche auch ausserhalb des Parlamentes für Diskussionen sorgen dürften.

MiFID II – Swiss VAT impact on service pricing

Under MiFID II, financial institutions providing both execution and research services must price and supply them separately (i.e. unbundled). As the separately supplied research service is subject to 7.7% VAT, the new rule will impact Swiss businesses providing or receiving research services.

FinSA: First result of treatment by Economic Commission of the Swiss National Council

The Economic Commission of the Swiss National Council started discussing the FinSA at the end of January 2017. So far, the Commission has treated the first 10 articles of the act. However the controversial question whether insurance companies should remain in the scope of the FinSA or not has been delayed for the time being.

Council of States approves FinSa and FinIA

On 14 December 2016, the Council of States discussed the Swiss Financial Services Act (FinSA) and the Financial Institutions Act (FinIA) and approved the legislative drafts which proposed some major changes compared previous drafts. What are the key changes and next steps?