Here is the rewritten article in Markdown format:
Compliance Training Crucial for Swiss Financial Institutions Amidst FinSA Changes
As Switzerland’s Financial Services Act (FinSA) entered into force in January 2020, financial institutions are now under obligation to adapt their compliance training programs. The new law aims to define a code of conduct for the provision of financial services and instruments, create fair competition conditions among providers, and enhance investor protection.
FINMA’s Changes: A New Era for Financial Services Providers
The Swiss Financial Market Supervisory Authority (FINMA) has introduced significant changes for financial services providers, including:
- Segmentation of clients into three categories: private, professional or institutional
- Knowing risk profiles
- Applying the appropriate code of conduct
As a result, understanding FinSA is now a key element of compliance for any Swiss bank or financial services provider.
eSkills’ Response to Demands
In response to these demands, eSkills has launched an e-learning program designed in collaboration with CoFaktory, a leading regulatory expert in Switzerland. The course aims at client advisors of Swiss and foreign financial institutions serving clients in Switzerland.
Course Content and Features
The comprehensive training covers topics such as:
- Classifying customers according to FinSA principles
- Distinguishing between classification principles and objectives
- Applying behavioral rules for financial services provision
- Knowing the “Best Execution” rules and organizational requirements under FinSA
To engage learners, the course features:
- Interactive case studies that simulate realistic scenarios faced by financial professionals
- Informative guides and checklists related to client segmentation, code of conduct, and client risk profiles
- A formal assessment consisting of 10 questions with a passing grade of 70%
Language and Customization Options
The FinSA e-learning course is available in both English and French, catering to multi-lingual workforces. Furthermore, the program can be fully customized to meet specific regulatory requirements and customer profile analysis forms.
Explore eSkills’ Compliance Training Offerings
To explore eSkills’ broad offering of compliance training for financial institutions, visit their [course catalogue](insert link) or contact them at hello@eskills.ch to discuss incorporating FinSA training into corporate trainings.