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FIDLEG is the Swiss answer to MiFID II and defines Investor Protection rules for financial services companies. The implementation of FIDLEG has a considerable impact on processes and systems in the advisory and investment management of banks.

Although most internationally oriented Swiss banks have already introduced most of the processes, systems and frameworks for investor protection with MiFID II, FIDLEG still represents a major challenge for many banks. Should adaptations of MiFID II be taken over for Switzerland (uniform treatment of customers) or should the processes be adapted with the simplifications permitted by FIDLEG and thus result in higher cost with two different standards?

The central elements of FIDLEG on the customer side can be found in the profiling, classification and increased information duties. On the product side, the creation of basic information sheets (BIB), prospectus and the extended best execution rules are among the biggest cost drivers.

The customer base of Swiss banks affected by FIDLEG is significantly larger than the MiFID population. As a result, Swiss-oriented client advisors have had little contact with investor protection rules. A large part of the effort therefore will be spent on training employees and on internal and external communication.

finalix Contribution

  • Implementation of FIDLEG requirements in the advice process (suitability, K&E, advisory minutes) in all customer channels
  • Implementation of cost transparency and alignment with MIFID II requirements
  • Analysis and definition of business processes, support for training and internal/external communication
  • Implementation of processes regarding best execution of client orders

Our experts

Alain Huber 1
Managing Partner
Sandra Huwyler 1
Senior Manager