Beyond banking

Author: | Published: 27 Mar 2017

Benedikt Maurenbrecher, Daniel Haeberli, Urs Meier and Manuel Baschung review the legal framework for fintech in Switzerland and examine the key regimes at work and proposed rule amendments

On February 1 2017, the Swiss Federal Council (the federal government of Switzerland) opened a consultation on legislative amendments aimed at easing the regulatory burden on fintech companies. The general thrust of the proposed legislation is not to create new forms of regulation for particular business models but to restrict the ambit of regulation in accordance with the risks posed by the respective activities. This is to avoid legislative obsolescence and produce a level playing field for all firms whose activities do not involve the risks typical to the respective regulated activity, whether or not these businesses involve fintech.

The subject matter of the consultation mainly consists in proposed amendments to the Federal Act on Banks and Savings Banks...



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