Praktische Problemfelder und Lösungsansätze in Bezug auf die «FinTech»-Bewilligungsvoraussetzungen von Art. 1b BankG
The piece at hand addresses in depth the FinTech license according to art. 1b of the Swiss Banking Act (BA) that is in force since January 1st 2019. The FinTech license provides for a new category of a regulatory status for FinTech institutions that do not offer typical banking activities, but whose business touches certain elements of banking. It aims to foster innovation in the financial market. In the first part, the paper starts out with an overview of art. 1b BA and the corresponding rules of the Swiss Banking Ordinance. Then, the particular obligations specified in art. 1b para. 3 BA are presented in greater detail. Reference is made to possibly applicable FINMA circulars. Thereafter, the paper deals in depth with the facilitations provided for in art. 1b para. 4 BA. Finally, it contributes to the interpretation of the scope of application of the general analogous referral set out in the chapeau of art. 1b para. 1 BA. Based on that, the second part of the paper discusses two practical…
