Financial Services Act (FinSA)
Last updated: 10.12.2022
INFORMATION FOR CLIENTS OF PHOENIX FINANCE SA
The new Swiss Financial Services Act (FinSA) entered into force on 1 January 2020. The aims of the new Swiss FinSA include strengthening investor protection and the Swiss financial center, and establishing comparable standards for financial service providers. Please note that Phoenix Finance SA is using the regulatory transition periods to implement FinSA duties regarding the rules of conduct and the organisational measures.
Please find below some important information for you as an investor or a client or refer to our Information Booklet:
QUESTIONS / CONTACT
If you have questions about FinSA, please contact directly your relationship manager or use the following
Phoenix Finance SA and its supervisory authority
Phoenix Finance SA is a limited liability company incorporated in the Canton of Geneva, Switzerland. It is subject to the Financial Institutions Act (FinIA) and is supervised by the Swiss Financial Market Supervisory Authority (FINMA).
Here are the contacts:
Information on our Ombudsman
If we fail to meet your expectations at any time, please contact your relationship manager. Together we will find a way to resolve the issue. You will find detailed information on our complaints process via the following link:
If we are unable to find an amicable solution, you can contact the Financial Services Ombudsman (FINSOM). This is the Ombudsman service responsible for Phoenix Finance SA and is a free and neutral information and mediation agency. As a general rule, the Ombudsman only gets involved after Phoenix Finance SA receives and has had an opportunity to respond to a written client complaint.
Financial Services Ombudsman (FINSOM)
FinSA divides clients of financial service providers into retail clients, professional clients and institutional clients. This classification ensures additional regulatory protection and is based on a person’s individual financial circumstances or level of knowledge, experience and financial expertise. Unless we inform you otherwise, you will be classified as a retail client, giving you the most comprehensive level of client protection.
Provided you meet the necessary requirements or you wish for a different classification, you can request a change in your classification . To do so, please contact your relationship manager.
More information on the various client classifications can be found here:
Transactions with financial instruments are associated with opportunities and risks. It is therefore important that you are familiar with and understand these risks before using a financial service. The brochure “Risks Involved in Trading Financial Instruments” contains general information on typical financial services and on the characteristics and risks of financial instruments. Familiarize yourself with this information before signing a contract and contact your client advisor if you have any questions.
Following the introduction of FinSA, a Key Information Document (KID) must be made available when giving clients classified as Retail client personal recommendations for financial instruments.The Key Information Document contains information about the characteristics of the product as well as its risks and costs, and makes it possible to compare different financial instruments.
You can obtain these documents in printed form from your relationship manager on request.
Costs and fees may be incurred both by Phoenix Finance SA and by third parties (e.g. fund managers) in connection with the provision of financial services. We distinguish between costs and fees that are charged directly to your account by us and costs due and received by us on a specific financial instrument.
Information and explanations on fees, costs and renumeration are an integral part of the discretionary asset management mandate signed between you and Phoenix Finance SA
Please refer to this document for the related information and to your relationship manager to obtain details about the costs and fees of your financial transactions.