Newsletter 691: Federal Department of Justice acknowledges Ombudsman’s Offices

Ladies and gentlemen
Dear members

We would like to draw your attention to the fact that last week the Federal Department of Justice (EFD) has acknowledged the first Ombudsman’s Offices according to FinSA. The list of all admitted Ombudsman’s Offices is publicly accessible on EFD’s homepage and can be found under the following link (unfortunately not available in English):

https://www.efd.admin.ch/efd/de/home/das-efd/ombudstelle-nach-fidleg.html

FinSA contains the provision that customers of financial service providers and/or financial institutions may make use of a procedure with the Ombudsman’s Office. Ideally, legal disputes can be solved amicably in such a (mediating) procedure. Financial service providers and financial institutions affected by either FinSA and/or FinIA therefore must be affiliated with such an Ombudsman’s Office. The affiliation must be happen within six months after the first Ombudsman’s Office has officially been acknowledged – i.e. the transition period for this affiliation obligation lasts until 23 December 2020. Financial service providers and financial institutions are free in their choice of an Ombudsman’s Office.

Kind regards,

VQF
Financial Services Standards Association