Advice on financial and capital market law

Financial market is the term used to describe all markets on which transactions and trading in capital and financial instruments are carried out and related services are provided. Financial market law thus comprises the legal foundations in the areas of money market, credit market, foreign exchange market, securities trading, stock exchanges and banks as well as other institutions of the financial market infrastructure, asset management as well as the regulations concerning the regulation and supervision of these markets and institutions and the fight against money laundering. The self-regulatory decrees of the financial service providers themselves should also be mentioned.  

Consultations on financial market law cover the regulatory issues relating to these legal areas. This includes the legal representation of financial service providers such as banks, investment firms, asset managers and infrastructure operators in contacts with the supervisory authority and self-regulatory organisations.

Money Laundering Act

All regulated financial service providers and all other non-prudentially supervised financial intermediaries must comply with the many obligations under the Anti-Money Laundering Act.

The rules for combating money laundering have become increasingly complex. Correct and formally correct implementation is associated with effort and requires resources. This challenge is not easy to meet, especially for smaller companies active in asset management. Support in the form of advice or the assumption of specific functions (anti-money laundering specialist office) in accordance with the Anti-Money Laundering Act can bring relief. But even larger financial services companies are increasingly confronted with complex questions on this topic, the answers to which can be helped by external support.

Supervisory and legislative experience in the area of due diligence and reporting, but also the questions surrounding the subjecting of an activity to the Anti-Money Laundering Act are of immense benefit in order to be able to correctly classify specific cases of application.

Training courses that are imparted with a multitude of practical references, in a manner that is appropriate to the target group and the subject matter, can bring decisive added value.

Licensing and affiliation procedures

For the operation of companies active in the regulated financial market, licences are required from the supervisory authority, in Switzerland FINMA; in the area of the Anti-Money Laundering Act, affiliation with a self-regulatory organisation (SRO) is required. Asset managers must join so-called supervisory organisations (AO). The licensing requirements are laid down in the supervision laws, e.g. Banking Act, Financial Institutions Act, Collective Investment Schemes Act or Financial Infrastructure Act and Anti-Money Laundering Act. They differ depending on the form of authorisation. For example, the requirements for fulfilling the licensing conditions for operating a bank or a stock exchange are considerably higher and more complex than for licensing as an asset manager or the affiliation of a financial intermediary of the so-called parabanking sector with an SRO. Expertise and experience facilitate the preparation and compilation of the application and the application enclosures such as documentation of the owners and bodies, regulations, organisation and infrastructure, business plan and budgets.

With the entry into force of the new financial market laws (Financial Institutions Act FINIG and Financial Services Act FIDLEG), asset managers have also been subject to licensing and supervision since the beginning of 2020. For these financial service providers, who are now confronted with complex regulatory requirements, advice and support can facilitate the licensing process.

Compliance and risk management

The compliance function and risk management is a regulatory requirement for all regulated financial institutions, i.e. banks, investment firms, fund management companies and asset managers, and accordingly it is important that it is managed with expertise and functions properly. The regulatory requirements for these functions are intended to ensure this and their implementation is not only a legal obligation but also an opportunity to establish efficient compliance and to correctly identify and address risks. Knowledge and expertise on the regulatory requirements on these topics are the necessary foundations for this.

Corporate Law

Specialist knowledge based on practical experience helps to contain legal risks in the context of corporate law issues. Close cooperation with a company specialising in corporate services enables us to offer companies and their investors cost-effective and efficient services.

Immigration law

Questions of immigration law are complex and the practice of the authorities is difficult to grasp. Advice characterised by expertise is of importance that should not be underestimated.

Other Areas of Law

For advice and legal assistance in other areas of law, please refer to the services of Advokatur Aellen, owner Marcel Aellen; see