The Swiss Financial Market Supervisory Authority has published guidelines explaining how interested institutions can benefit from the Berne Financial Services Agreement between Switzerland and the United Kingdom, which recognises the two countries’ legal and supervisory frameworks as equivalent in certain financial segments and simplifies mutual market access for investment services and insurance providers. The guidance is intended to make access to the agreement easier for Swiss and British supervised institutions and sets out technical and practical details on the processes envisaged by the BFSA, including information on simplified market access. FINMA notes that its guidelines are supplemented by guidance from the UK’s Financial Conduct Authority and Prudential Regulation Authority. The BFSA was signed on 21 December 2023 and is expected to enter into force on 1 January 2026 following ratification by both parliaments.
Swiss Financial Market Supervisory Authority (FINMA) 2025-11-03
Swiss Financial Market Supervisory Authority issues guidelines on using the Berne Financial Services Agreement for simplified Swiss UK market access
The Swiss Financial Market Supervisory Authority (FINMA) has issued guidelines on the Berne Financial Services Agreement (BFSA) between Switzerland and the UK, simplifying mutual market access for investment services and insurance providers. The guidelines detail technical and practical processes for Swiss and British institutions, supplemented by guidance from the UK's Financial Conduct Authority and Prudential Regulation Authority. The BFSA, signed on 21 December 2023, is anticipated to take effect on 1 January 2026.