Suchergebnisse für Eignungsprüfung in der Anlageberatung

Regulierung von künstlicher Intelligenz für FinTech-Anwendungen

New methods of artificial intelligence represent one of the greatest promises and most prospective developments of digitalisation. Artificial intelligence has already enabled numerous innovative applications in the areas of image recognition, medicine, language and mobility, and it is also increasingly being used in the financial market, on which this article focuses. In addition to great…

Angemessenheits- und Eignungsprüfung nach FIDLEG

On 1 January 2020 the Financial Services Act (FinSA) entered into force. Depending on the service offered the new supervisory law obliges investment advisors and portfolio managers to conduct an appropriateness test or a suitability test. This article evaluates the new regime and compares it with the relevant contractual duties and the provisions of the European supervisory law.

Dokumentenherausgabe nach FIDLEG vs. datenschutzrechtliche Auskunftserteilung

The claim for disclosure according to FinSA is supposed to enable the customer to obtain evidence to effectively enforce his or her rights from the contractual relationship with the financial service provider. The right to request information according to FADP is meant to enable the data subject to control his or her personal data and thus to protect and enforce his or her personal rights…

Credit Scoring, AML Software & Risk Profiling: Automatisierte Entscheidungen im Rahmen von Finanzdienstleistungen

Techniques of automated decision making, including profiling are, no doubt, also of interest to financial service providers. This essay describes three such applications (credit scoring, transaction monitoring for AML purposes, risk profiling for investors) and discusses their possible compliance with the requirements under the EU’s General Data Protection Regulation, as well as the proposed new…

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…

Grenzüberschreitendes Angebot von Finanzdienstleistungen und -produkten? Die Eidgenossenschaft schlägt zurück

Until recently, Switzerland applied a strict territorial approach to regulating financial services with a handful of a notable exceptions. After facing protectionist movements from other…

Transaktionsbezogene vs. portfoliobezogene Anlageberatung unter FIDLEG: keine einfache Abgrenzung

With the entry into force of the Financial Services Act (FinSA) on 1 January 2020 the transaction-related ­investment advice will be introduced as a new category of investment advice to be distinguished from the portfolio-related investment advice. The correct differentiation between the two types of investment recommendations is crucial to determine the scope of application of the suitability…

Dienstleisterketten beim Erbringen von Finanzdienstleistungen: ­Aufsichtsrechtliche Erfassung durch das FIDLEG und vertragsrechtliche ­Haftung der Depotbank

On June 15, 2018 the Parliament passed the new Financial Services Act (FinSA) which presumably will enter into force by the beginning of 2020. The FinSA states new regulatory conduct rules that will apply to financial services providers vis-à-vis their clients. In cases where several financial services providers are involved in the provision of a financial service, the question arises of who has…

Ist die neue Finanzmarkt­regulierung funktionsfähig?

The article describes the causes of financial market crises. It assesses the advantages and disadvantages of the legislative measures taken since the crisis of 2007/­2008. Finally, it outlines what additional or alternative measures could be taken to increase the stability of the financial markets and to improve supervision.

Bankgeschäfte nach der Krise: Safer, simpler, fairer?

Ten years after the global financial crisis, the Financial Stability Board reports that regulation has built a «safer, simpler and fairer financial system». While there are indeed notable improvements in the regulatory architecture, the question remains whether banking, as seen from a retail customer perspective, has become safer, simpler, and fairer. This article argues that, overall, retail…