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"Opting in" or "Opting out"?

In the FinSA world, financial services providers must classify their clients into:

a.       Private clients,

b.       Professional clients

c.       Institutional clients.


I often get asked this question when it comes to high-net worthy retail clients whishing to be categorized as professional clients: Is it opting in or opting out?


The answer is: Opting out!


But they have to prove that they satisfy 1 of the 2 below criteria (it is not cumulative!):


a. on the basis of training, education and professional experience or on the basis of comparable experience in the financial sector, they possess the necessary knowledge to understand the risks associated with the investments and have at their disposal assets of at least CHF 500,000;


or


b.  they have at their disposal assets of at least CHF 2 million


In doubt, check the Art.5 FinSA (on our Resource page as well)


FINSA_Federal Act of 15 June 2018
.pdf
Download PDF • 927KB


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