Ombudsman, dispute resolution and the client adviser register

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The Financial Services Act requires financial service providers to join an ombudsman office recognised by the Federal Department of Finance, unless they serve only institutional and professional clients. The ombudsman offices mediate disputes between clients and providers free of charge or at low cost for the client. The Swiss Banking Ombudsman, founded in 1993 by the Swiss Bankers Association in Basel, is the most important of them. Its procedures are confidential and its recommendations are not binding, but most banks follow them.¹

Client advisers of foreign financial service providers that are not supervised in Switzerland must register in a register of client advisers before they serve clients in Switzerland. The registration requires proof of sufficient knowledge of the rules of conduct, professional liability insurance and affiliation with an ombudsman office. The register allows the Swiss authorities to identify the foreign advisers who are active in Switzerland and to ensure that they meet minimum standards.² The register is a modest form of regulation of cross-border services, which reflects the traditionally liberal approach of Switzerland.

Notes

On the obligation to join a recognised ombudsman office (Art. 74 ff. FinSA) and the Swiss Banking Ombudsman, founded in 1993, see the publications of the Swiss Banking Ombudsman. To be verified. ↩
On the register of client advisers for advisers of foreign financial service providers not subject to prudential supervision in Switzerland (Art. 28 ff. FinSA), see the registration bodies authorised by FINMA. To be verified. ↩

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of August 2025.

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Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

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Ombudsman, dispute resolution and the client adviser register

Notes

Setting up or expanding in Switzerland?