Filing a complaint
With your Swiss SEC RIA
If you see any reason for complaint, logically this should first and foremost be taken up with your Swiss SEC RIA who will endeavor to solve any problems which may arise.
However, if you are not happy with the results, you have the possibility to submit a formal complaint.
In the USA
If you discover disclosure that you believe is false or misleading or you have a complaint regarding an SEC RIA, you can notify the SEC using the SEC's electronic complaint form, available at www.sec.gov, or the appropriate state securities authority through www.nasaa.org.
IN SWITZERLAND - OMBUD FINANCE SWITZERLAND
Dispute Resolution in Financial Matters
OFS is a Swiss Foundation dedicated to provide dispute resolution services to affiliated financial institutions, financial service providers, financial advisers and their clients. Its services are available upon request, from clients or from financial service providers. OFS is a public utility tax exempted legal entity subject to supervision by the Swiss Federal Supervision Authority in Bern.
OFS was recognized as an official Ombudsman’s Offices by the Federal Department of Finance on June 24, 2020.
Financial Institutions and financial service providers holding an authorization in the meaning of the Federal Act on Financial Institutions of June 15, 2018 (FinIA) and client advisers registered with a recognized register of advisers, are eligible for registration with OFS.
In Switzerland - the Banking Ombudsman
The Swiss Banking Ombudsman is an independent mediator whose services are free of charge. He deals with specific complaints which are raised against banks (but not your Swiss SEC RIA) based in Switzerland.
The Banking Ombudsman also runs a Central Claims Office for persons searching for dormant assets.
The institution Swiss Banking Ombudsman took up its duties in April 1993. Since then the office is well established and deals with an increasing number of enquiries (currently about 2000 a year). Marco Franchetti is the actual Banking Ombudsman since July 2013. He is supported by a multilingual team of lawyers, economists and banking specialists.
The office of the Swiss Banking Ombudsman is supported by the Swiss Banking Ombudsman Foundation, established by the Swiss Bankers Association. The Board of the Foundation consists of independent public personalities and appoints the Ombudsman. Its president is Annemarie Huber-Hotz, who previously acted as Federal Chancellor.
Alternative dispute resolution or mediation to settle conflicts has proved helpful in many countries and in a variety of areas.
The Banking Ombudsman is independent and neutral. He can provide reliable information and act as a mediator in disputes, helping to avoid costly and sometimes lengthy legal proceedings. The Banking Ombudsman does not have the role of a state court, but simply promotes discussion between the parties.
Instead of acting as a judge, he mediates between the parties and works towards an amicable solution. The parties are not bound by his proposal, but may choose either to accept it or to take other – for example legal – steps. However, experience has shown that, thanks to the expertise of the Banking Ombudsman, negotiated solutions tend to be accepted.
The mediation services of the Banking Ombudsman are free of charge for the banking customer.
The Ombudsman treats inquiries strictly confidential. He only contacts a bank with the applicant’s permission.
Information about filing complaints:
Text source: OFS,bankingombudsman.ch Swiss Banking Ombudsman, sec.gov SEC