Important Consequences for Trustees under FinIA and FinSA

Factsheet for Trustees

Important Consequences for Trustees under FinIA and FinSA

Dear STEP Members and Friends

The Financial Institutions Act of 15 June 2018 (“FinIA”), the Financial Services Act of 15 June 2018 (“FinSA”) and their implementing ordinances entered into force on 1 January 2020. Most of the requirements go into effect in January 2022. Financial Institutions therefore still have time to make their compliance arrangements during 2021.

While FinIA governs the requirements for financial institutions, FinSA seeks to protect the clients of financial services providers and to establish comparable conditions for the provision of financial services by financial service providers. Due to the uncertainties regarding the application of FinIA and FinSA to trustees, this factsheet comments on the questions STEP Zurich is frequently asked.

See attached factsheet and link to FINMA:

(https://www.sif.admin.ch/sif/en/home/dokumentation/fachinformationen/ombudsstelle.html)

STEP Zurich Committee


CompanyVerein STEP Zurich Centre
ContactMrs Corinne Graf
 STEP Office
6300 Zug
 events@capitaltrustees.ch
 +41 41 727 05 27
DownloadFactsheet for Trustees Dec 20
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