Federal Council wants to reduce barriers to market entry for fintech firms
In its meeting on November 2, 2016 the Federal Council called for an easing of the regulatory framework for providers of innovative financial technologies on the reasons that a dynamic fintech system can contribute significantly to the quality of Switzerland's financial centre and boost its competitiveness as well. The faciliations should especially reduce barriers to market entry for providers in the fintech area and increase legal certainty for the sector overall. The Federal Department of Finance (FDF) has been instructed to prepare a corresponding consultation draft.