From the magazine SZW-RSDA 6/2019 | S. 589-617 The following page is 589

Die (neuen) Pflichten im Execution-only-Geschäft: Zusammenspiel von FIDLEG und OR

As a part of the new financial markets architecture, the Financial Services Act (FinSA) entered into force on 1 January 2020. It introduces unified rules for offering financial services and distributing financial instruments and applies across all financial sectors. FinSA launches extensive duties on information, suitability and appropriateness, documentation, accountability as well as organizational requirements. Simultaneously the Swiss Code of Obligations also contains contractual conduct rules which though are not enforced by a public authority. While article 11 of Swiss Federal Act on Stock Exchanges and Securities Trading was deemed to have a dual character, i.e. it influenced also the contractual relationship between a financial services provider and its clients, the new FinSA conduct rules do not impact civil relationships. Hereinafter the authors discuss the interplay of public and civil conduct rules concerning one type of financial services – receipt and transmission of…