Since 1 January 2020, Articles 89–91 of the Financial Services Act (FinSA) have made it a criminal offence to violate rules of conduct, prospectus and information obligations, as well as to offer financial instruments without authorisation. Article 92 exempts persons supervised under Article 3 of the Financial Market Supervision Act (FINMASA) and persons acting on their behalf from this regime. Parliament intended to sanction these persons under supervisory law rather than criminal law. In its opinion on motion 25.3922, the Federal Council itself describes the mechanism as «für das Finanzrecht atypisch» (translation: "atypical for financial market law"). After more than six years, there is no overview of how well this concept has proven itself.
Context of the source passage
The lead above is a verbatim passage from the submitted text of question 26.1045 by Cédric Wermuth, dated 1 October 2026. The statements therein are attributable to the submitter.
Source
Parliamentary Services (Curia Vista): 26.1045 – Art. 92 FIDLEG: Welche Erfahrungen seit dem Inkrafttreten? Question, submitted on 1 October 2026. Reference: submitted text. https://www.parlament.ch/de/ratsbetrieb/suche-curia-vista/geschaeft?AffairId=20261045
AI disclosure
The title and source passage were adopted verbatim. Source attribution, claim mapping and the meta description were created with AI assistance.