By Lukas Wyss, Walder Wyss Ltd.

The legislative process towards passing the new FinSA and FinIA kicked off in November 2015. The FinSA and FinIA will create uniform competitive conditions for
financial intermediaries and improve client protection. The acts shall further promote competitiveness of the Swiss financial centre and, by creating a level playing field, competitive distortions between providers shall be minimised. Swiss Parliament adopted both acts on June 15, 2018.

The FinSA also introduces a new requirement for prospectus pre-approval by a regulatory body prior to the launch of the offering or the request for admission to