Financial Services Act (FinSA)
Gyra SA (hereinafter GYRA) is an asset management company regulated by the Swiss Financial Market Supervisory Authority (FINMA), Laupenstrasse 27, 3003 Bern, Switzerland.
New regulatory financial market architecture structured by the Swiss Financial Services Act (FinSA) entered into force on January 1st, 2020. The objective of the law is to improve client protection and establish a level playing field. FinSA consists of rules on providing financial services and offering financial instruments for all financial service providers.
1. Information on Financial Services
With an advisory mandate, the client delegates Gyra as a partner who provides portfolio recommendations on asset allocation and personal investment advice.
With a discretionary mandate, the client delegates Gyra the right of making investment decisions. Based on the client & portfolio risk profile and within the defined investment strategy, Gyra may execute transactions at its discretion without seeking consent of the client for each transaction.
2. Client Segmentation
Depending on the client segment and if specific criteria are met, the client can declare that it does not wish to remain in its assigned segment but that it wishes to increase investor protection (so-called “opting-in”) or that it wishes to reduce investor protection (so-called “opting-out”). These declarations must be in writing.
3. Opting-in or Opting-out
Professional clients can declare that they wish to be treated as retail clients to benefit from a higher level of client protection. The same applies to institutional clients, who can declare at any time that they wish to be classified as professional clients. However, the client must be aware that certain financial services (i.e. portfolio management, execution-only) cannot be provided to retail clients but only to professional clients.
Professional clients have access to a larger available investment universe than private clients but obtain a lower level of investor protection. Certain private clients (including legal entities) can declare that they wish to be classified as professional clients (opting-out).
To opt-out the client has to meet one of the following criteria :
- the necessary knowledge based on training, education, and professional experience or on the basis of comparable experience in the financial sector to understand the risk of the investments and have eligible assets of at least CHF 500.000-.
- have at least 2 million eligible assets at his/her disposal.
4. Suitability and Appropriateness Assessment
Financial service providers that provide investment advice or portfolio management services shall perform an appropriateness or suitability review. The assessment is based on the client segmentation (Article 3 above) and on the information provided by the client to GYRA.
5. Risks Related to Financial Products and Services
The risks associated with financial products offered and financial services provided by GYRA are explained to the clients in the respective agreements. The clients are requested to carefully read the available documentation and information and contact GYRA if there are any questions.
Furthermore, various types of financial instruments and associated risks are explained in detail in the brochure “Risks Involved in Trading Financial Instruments,” published by the Swiss Bankers Association (SBA).
Fees incurred by the clients in connection with the financial products offered and financial services provided by GYRA are disclosed to the clients in detail in the respective product documentation and in the respective agreements entered into with the clients.
Please contact your client advisor to get more information about the fees in relation to our financial services.
7. Conflict of Interest
GYRA implemented an internal policy to avoid conflict of interest that might occur when providing financial services. This policy aims to prevent conflicts of interest that could arise through the provision of financial services or any disadvantages for clients as a result of conflicts of interest and protect the reputation of GYRA.
Kindly contact your relationship manager for more information.
Compensation from Third Parties
The Client explicitly accepts that GYRA is entitled to receive and retain compensation from third parties in accordance with various legal practice or the statutory provisions and the conditions set out in the relevant agreements.
8. Dispute Resolution
Complaints are expected to be filed in writing, either in English or French, to the attention of the Complaints Handling Officer with the reference “Complaint Filing” at the following address or email:
Attention: Complaints Handling Officer
9-11, Rue du Prince, 1204, Geneva Switzerland
E-mail address: email@example.com
The following information shall be provided to ensure a prompt handling of the complaint :
- Identity and contact details of the Complainant;
- Reason of the complaint and the resulting alleged damage or loss in relation thereof;
- Where necessary, copies of any documentation supporting the Complaint.
Clients are entitled to initiate a mediation procedure with :
Rue de la Tour-de-l‘Ile 1,
Tel : +41 22 732 61 19
Mail : firstname.lastname@example.org
This procedure is free of charge for the client concern and is intended to settle the dispute by conciliation between the parties.
Web : www.gyra.ch
Email : email@example.com
Direct : +41 22 310 61 57
Rue du Prince 9-11, 1204, Geneva