FINMA has recently published Circular No. 2025/2 on “Conduct Obligations Under FinSA/FinSO,” which will come into force on January 1, 2025. This Circular aims to clarify and implement the conduct obligations set out in the Financial Services Act (FinSA) and the Financial Services Ordinance (FinSO), ensuring a uniform application of the rules by financial service providers. The Circular outlines FINMA’s supervisory practice on key interpretative issues, addressing frequent questions from industry operators. The supervisory practice is designed to enhance investor protection, improve transparency, promote uniform practices among regulated entities, and strengthen trust in the Swiss financial system. Among the most relevant topics covered are information obligations, conflict of interest management, the sale of own products, third-party compensation, and specific clarifications regarding suitability and appropriateness requirements.
The webinar will explore these topics, starting with a general introduction and contextualization, followed by an in-depth analysis of conflict of interest management, with a special focus on the sale of own products by financial service providers and the regime of kickbacks (retrocessions). A dedicated session will then cover conduct obligations, followed by an analysis of the legal impact of these provisions. The final segment will examine recent case law on civil litigation and the procedural consequences for financial service providers failing to meet regulatory requirements. During the session, participants will have the opportunity to discuss the practical implications of FINMA’s supervisory practice and exchange strategies to ensure compliance within the transition period, which runs until June 30, 2025.

Program and Speakers
General introduction and contextualization of the new FINMA Circular No. 2/25
Filippo Recalcati
Attorney, Head of Global Activities Ticino, Head of Solutions at the Swiss Association of Asset Managers (ASG)

The sale of own products by a financial service provider and kickbacks
Fabio Sabino
Attorney, Founder of Studio Legale Avv. Fabio Sabino

Conduct obligations and FINMA’s supervisory practice under FINMA Circular No. 2/25
Flavio Amadò
Attorney and notary, LL.M, Partner at Studio Legale e Notarile COLLEGAL (Lugano), Lecturer at SUPSI

Civil litigation and procedural consequences: a look at recent case law
Giovanni Molo
Attorney, Dr. iur., LL.M, Partner at Studio Legale e Notarile COLLEGAL (Lugano), Lecturer at SUPSI

Cost
CHF 200
CHF 150 for members of partner organizations

Registration
https://bit.ly/webinar-29-04-2025

Registration deadline
Friday, April 25, 2025