The violation of certain rules of conduct, the violation of regulations on prospectuses and basic information sheets and the unauthorised offering of financial instruments are punishable by FIDLEG in case of intentional actions.
Art. 89 FIDLEG sanctions violations of the FIDLEG’s duty to provide information, the duty to check aptitude and appropriateness and the duties in connection with the compensation of third parties. Financial service providers and in particular client advisors are affected.
In the event of a breach of the duty to provide information, anyone who deliberately provides false information or conceals material facts is liable to prosecution. Material facts include, in particular, information that is material to the client’s investment decision, such as information on risks.