Financial Ombudsman Switzerland
The non-profit financial ombudsman office Switzerland ( FINOS for short ) is an ombudsman office for financial service providers. It was founded as an association in connection with the Financial Services Act (FIDLEG) that came into force on January 1, 2020. They were officially recognized on June 24, 2020 by the Federal Department of Finance FDF .
Legal basis of the ombudsman for financial service providers
In Switzerland, the Financial Services Act (FIDLEG) came into force on January 1, 2020. It obliges financial service providers from Switzerland and abroad, provided they are active in the Swiss financial sector, to join an ombudsman. You must be connected to an ombudsman that has previously been recognized by the Federal Department of Finance FDF. The financial service providers have to make contributions to the ombudsman, which are based on the contribution and cost regulations. The submission of a mediation request to the ombudsman for financial service providers does not exclude a civil action and does not prevent such.
Task of the ombudsman for financial service providers
Disputes between customers and financial service providers should be settled by an ombudsman as part of a mediation process. The task of the Swiss Finance Ombudsman is to act as a neutral mediator in an efficient way to carry out arbitration proceedings between customers and financial service providers. As a neutral institute, it endeavors to find amicable solutions for the conflicting parties and thereby avoid costly legal disputes.
Neutral position of the ombudsman for financial service providers
The ombudsman for financial service providers has no decision-making authority. The conflicting parties decide for themselves about the possibilities and results. As a neutral body, the ombudsman promotes the development of solutions, is equally committed to all parties, is independent of interests and ensures that the mediation process is fair, transparent and efficient.
Confidentiality of the procedure
The mediation process is based on the confidentiality of the information and findings received. All important and useful information should be disclosed by both parties. The parties are not entitled to inspect the ombudsman's correspondence with the other party. Statements made by the parties as part of the mediation process and the correspondence between a party and the ombudsman may not be used in any other process.
Obligation to participate by financial service providers
Financial service providers are obliged to take part in any arbitration proceedings. You must comply with summons, requests for comments and requests for information from the ombudsman for financial service providers. If the obligation to participate is not complied with, the financial service provider can be excluded from the ombudsman's office. The Swiss Finance Ombudsman is not obliged to re-admit an excluded financial service provider as long as it does not fulfill its obligations. Without joining another ombudsman for financial service providers recognized by the Federal Department of Finance FDF , this can lead to the financial service provider's market exit, as the legal requirements for activities in the financial sector are no longer met.
Activity report of the ombudsman
The Swiss Finance Ombudsman publishes an annual activity report.
Individual evidence
- ↑ Federal Department of Finance FDF: FinSA and FinIA. Retrieved December 17, 2019 .
- ↑ Financial Services Act (FinSA)
- ↑ a b Federal Department of Finance FDF: Ombudsman according to FinSA. Retrieved December 17, 2019 .
- ↑ Art. 77 FinSA
- ↑ Art. 84 FinSA
- ↑ Art. 80 FinSA
- ↑ Art. 76 FinSA
- ↑ Art. 74 FinSA
- ↑ a b c Art. 74 FinSA
- ↑ Art. 78 FinSA
- ↑ Art. 82 FinSA
- ↑ Art. 100 FinSO (Financial Services Ordinance)
- ↑ Art. 86 FinSA