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Retrieving FinSA KIDs in docRepository

The Swiss Financial Services Act (FinSA) entered into force in 2020 with a two-year transitory period. Providing FinSA KIDs to a retail customer will become mandatory in 2022. The provisions of the regulation apply whenever a financial service is offered in Switzerland, or to end-customers domiciled in Switzerland.

Corina-Greab
Corina Greab
September 9, 2021

Starting today, the first FinSA KIDs are retrievable in docRepository!


About the FinSA KIDs

The Swiss Financial Services Act (FinSA) entered into force in 2020 with a two-year transitory period. Providing FinSA KIDs to a retail customer will become mandatory in 2022. The provisions of the regulation apply whenever a financial service is offered in Switzerland, or to end-customers domiciled in Switzerland.

Based on the EU-decision to postpone the PRIIP-application date for UCITS by six months to July 1st 2022, the FDF will ask the Swiss Federal Council to also extend the current FinSA transitional period for the establishment of a FinSA-KID for all financial instruments by six months as well. A decision on this is expected in November 2021. Our Regulatory Watch at cleversoft is closely monitoring this topic and will update our clients after the final FINMA-recognition.    

cleversoft is already making available the document type FinSA KID via the FinSA-module in docRepository - the first four issuers have just been connected:  

The connections are easily accessible via docRepository and the connected Core-Banking Systems and Third-Party Advisory Tools.

A wider range of issuers to follow, as more issuers will distribute FinSA KIDs in the coming months.

Covering the full range of Regulatory Documents in scope for the FinSA

What if a FinSA KID is not available for the product you are looking for? No panic, docRepository already contains the solution and considers equivalent documents for jurisdiction Switzerland as well! We have implemented a standard fallback logic, which automatically checks for a PRIIP KID in case no FinSA KID is available for a given structured product.  

document search fallback diagram
The graphic representation of the fallback logic sums up the features of this type of search.

Getting the most from your docRepository access

If you would like to know more about the FinSA module and add it your docRepository, contact Jörg Barenhoff, Sales & Business Development at cleversoft:

Jörg Barenhoff 
Tel: +49 69 348 729 51 
M: +49 176 407 077 75  

Email Jörg

Learn more about Regulatory Watch.