OSIF will inform IWMs, trustees and trade assayers, members or non-members of ARIF, from the entry into force of the law until they obtain their licence from FINMA.

The vocation of OSIF will be to:

Promoting in-service training

ARIF has anticipated the training obligations that the LSFin/LEFin will place on IWMs as from 2020 by giving these financial intermediaries the option of embarking now on a programme that will train/prepare them for SAQ-CWMA certification. This programme, which was set up in partnership with the Institute for Studies in Finance and Banking (ISFB), will be available to them from January 2019.
Further information at www.arif.ch and www.isfb.ch

The consequence for wealth managers, trustees and commercial testers:

Supervision by an SB is a precondition for licensing

The audit frequency may be extended – depending on the risk – up to a maximum of 4 years

A standardized report will have to be remitted to the SB in the years when no audit is conducted