Federal Council adopts implementing provisions for fintech authorisation
Bern, 30.11.2018 - From 1 January 2019, companies that operate beyond the core activities characteristic of banks will be able to accept public funds of up to a maximum of CHF 100 million on a professional basis subject to simplified requirements. During its meeting on 30 November 2018, the Federal Council brought into force a corresponding amendment to the Banking Act to promote innovation (fintech). Moreover, crowdlending should be possible also for private consumption within the authorisation-exempt area of the sandbox.