Financial Services Act (FIDLEG): Who Qualifies and What You Get
Learn how the Financial Services Act (FIDLEG) ensures transparency regarding fees and risks for investors in Switzerland.
The Financial Services Act (FIDLEG) is a set of regulations designed to protect people when they engage with financial services in Switzerland.
Who it's for
This act applies to all investors, including both retail investors and professional investors.
What you get
The scheme ensures that financial advisors must be transparent with you. You are entitled to clear information regarding the specific fees you are being charged and the various risks associated with your investments.
What it costs you
There is no direct monetary cost to benefit from these protections. However, to fully understand your investment, you should take the time to read the "Basisinformationsblatt" (Key Information Document) provided to you by your bank.
The catch to know
Banks may sometimes categorize you as a "professional" investor rather than a "retail" investor. This is important because being labeled a professional can mean you receive fewer legal protections under this act, so you should always verify your investor status.
How to apply
- Review the investment products offered by your financial institution.
- Request the "Basisinformationsblatt" (Key Information Document) for any product.
- Confirm with your bank whether you are classified as a retail or professional investor.