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Swiss Financial Services Act (FinSA)

The Swiss Financial Services Act (FinSA) came into force on 1 January 2020. Since there is a two-year transition period for a number of provisions, it will take full effect on 1 January 2022.

FinSA helps increase investor protection by imposing additional requirements on financial service providers. These requirements only affect clients with a securities account or who trade foreign exchange instruments (except for simple currency exchange).

We have published a brochure on the key points to know about FinSA:

Below is a summary of the information in that brochure:

1) Client segments

Under FinSA, a client is assigned to one of three segments: retail, professional, or institutional. Unless we specify otherwise, you will automatically be categorized as a retail client, ensuring you have the highest level of protection.

2) Financial instruments and inherent risks

The Swiss Bankers Association has published a helpful brochure for investors on the different types of financial instruments and the risks they entail:

3) Our products

BCV offers a wide range of investment funds and structured products. Simply click on the links provided to view the legal documentation for these products (fund prospectuses, KIIDs, key information documents, PRIPs KIDs, FinSA base prospectuses, and FinSA termsheets for structured products). Documentation on third-party investment funds can be found on the public platform fundinfo.

And whenever you receive a personalized investment recommendation from us, we will provide you with a key information document outlining the product’s characteristics, inherent risks, and fees, so that you can compare different financial instruments.

4) Costs and fees

The brochure below sets out the standard costs and fees we charge for financial services.

When setting these prices, we take into account any benefits we may receive from third parties and expenses we may have to pay in connection with our activities. These indirect costs and how they are taken into account are detailed in the document below, which clarifies the scope of Article 20, paragraph 2, of BCV’s General Conditions regarding commissions, retrocessions, and other benefits that BCV receives.

5) Conflicts of interest

We have put in place internal procedures to prevent conflicts of interest between clients and BCV, clients and individual BCV employees, or between two or more BCV clients.

6) Our best execution policy

We have taken measures to obtain the best possible conditions when executing orders and receiving or transmitting orders on behalf of our clients.