Conditions for an entry

Art. 29 FinSA - registration conditions

Client advisers are entered in the register of advisers if they prove that they:

a. satisfy the requirements set out in Article 6;

b. have taken out professional indemnity insurance or that equivalent collateral exists; and

c. are themselves affiliated to an ombudsman's office (Article 74) in their capacity as a financial service provider or the financial service provider for which they work is affiliated to an ombudsman's office.

Client advisers shall not be entered in the register of advisers if they:

a. have been convicted of criminal offences in accordance with Articles 89 to 92 of this Act or Article 86 ISA1 or of property offences under Articles 137 to 172ter of the Swiss Criminal Code2; or

b. have been prohibited from performing the registrable activity in accordance with Article 33a FINMASA3 or from practising a profession in accordance with Article 33 FINMASA.

If client advisers are employed as staff by a financial service provider, the condition set out in paragraph 1 letter b may be fulfilled by the latter.