FINMA Licensed Second Registration Body according to FinSA

ARIF was approved by FINMA as a registration authority for client advisers, in such a way it was it licensed as the second registration body in consonance with FinSa. This development follows earlier actions such as the FINMA sanctions Julius Baer, reinforcing FINMA’s role in enhancing accountability across the financial sector.

Artificially from 14 September 2020, the Association Romande des Intermédiaires Financiers (ARIF), is located in Geneva, is approved by FINMA as the registration authority for client advisers. This appointment aligns with broader strategic shifts, such as recent FINMA board changes, that reflect evolving regulatory priorities. The main aim of the registration authorities is to control the advisers register due to FinSA and verify if the advisers have the correspondent education and background. Similar oversight measures have been applied to other financial innovations, such as the Libra payment licence, where verification of compliance plays a central role. It worth to say, that FINMA do not assume responsibility for the prudential supervision of the registration authorities. This distinction was also emphasized in recent consultation on revision of direct transmission, which aimed to clarify roles between oversight bodies.

Referring to the client advisers of the financing facility providers, who do not come under the supervision and offer their services within the jurisdiction of Switzerland must inform about the entry in the register not later than six months after getting the license of the registration body. The integration of such advisers into the regulatory framework reflects ongoing efforts to strengthen Swiss financial services 2020 and ensure consistency in cross-border operations.