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COBS 6.1ZB Information about the firm (firms providing investment services through a client adviser in Switzerland under the BFSA)

01/01/2026R
  1. (1) In this rule:
    1. (a) ‘client adviser’ has the meaning given in Annex 5, Section IV, paragraph B.2 of the BFSA;
    2. (b) ‘UK investment services supplier’ means a person who meets the requirements in Annex 5, Section IV, paragraph B.2. of the BFSA;
    3. (c)  ‘relevant investment service’ means a service specified in Annex 5, Section III, paragraph B.a of the BFSA;
    4. (d) ‘Swiss high net worth client’ means a person specified in Annex 5, Section V paragraph B.3 of the BFSA.
  2. (2) Paragraph (3) applies to a UK investment services supplier that supplies relevant investment services through a client adviser in Switzerland to a Swiss high net worth client under access rights derived from Annex 5 of the BFSA.
  3. (3) Before the UK investment services supplier commences the supply of the relevant investment services, it must provide the Swiss high net worth client with a disclosure document in which the following is clearly and prominently stated:
    1. (a) that the UK investment services supplier is:
      1. (i) an entity incorporated in, or formed under, the domestic law of the UK; and
      2. (ii) authorised and supervised by the PRA and/or the FCA (as appropriate) under the domestic law of the UK;
    2. (b) that the UK investment services supplier’s duty to register as a client adviser in relation to article 28, paragraph 1 of the Swiss Financial Services Act (FinSA) is disapplied in accordance with Annex 5 of the BFSA; and
    3. (c)  if appropriate, information relating to the affiliation of the UK investment services supplier to an ombudsman in accordance with article 77 of FinSA.

  4. [Note: this rule implements Annex 5, Section IX, paragraph B.2 of the BFSA.]