Registration body

Client advisers of financial service providers that are not prudentially supervised may need to be entered in an adviser register. A registration body manages that register and checks whether entry requirements are met.

The adviser register is part of the conduct framework for financial services. It supports transparency for clients by identifying advisers who have met the registration conditions set out in law. Registration bodies perform this function under the applicable legal framework and must operate reliably and independently.

Role of the registration body

A registration body receives applications from client advisers, checks the required information and records accepted advisers in the register. It may also update entries, remove advisers where conditions are no longer met and provide public access to relevant register information.

Requirements for recognition

A body seeking to perform this role must demonstrate suitable governance, adequate resources, robust processes, independence, data security and clear rules for admission and removal. It must be able to apply the registration criteria consistently and handle register information responsibly.

Adviser registration

Client advisers may need to show knowledge of the conduct rules, appropriate professional qualifications, sufficient insurance or comparable security, and affiliation with an ombudsman where required. The exact evidence depends on the legal requirements applicable to the adviser and provider.

Ongoing duties

Registration bodies must keep their processes current and ensure that register information remains accurate. Advisers and providers should notify changes promptly so that the register continues to reflect the regulatory position.

What a registration body does

A registration body manages an adviser register for client advisers of financial service providers that are not subject to prudential supervision. It checks whether advisers meet the statutory entry conditions, records accepted advisers, keeps entries updated and makes the relevant register information available.

The register is part of the Financial Services Act conduct framework. It is designed to support transparency where a financial service provider or adviser is outside prudential supervision but still provides services to clients. Registration is therefore linked to client protection, not to a full prudential licence.

Who must sign up

Client advisers may need to register if they work for a Swiss financial service provider that is not prudentially supervised or for a foreign provider that is not subject to equivalent supervision. The specific obligation depends on the provider, the service, the client category and the legal exemptions available.

Entry in the register generally requires evidence of knowledge of conduct rules, professional expertise, appropriate financial security and affiliation with an ombudsman where required. Advisers should keep supporting documents current because changes can affect their ability to remain registered.

Supervision and changes

Registration bodies are licensed and supervised by the authority. They must maintain independence, resources, reliable processes and data quality. If their organisation, responsible persons, ownership or operating rules change, they must assess whether notification or approval is required.

The authority publishes lists of licensed registration bodies in spreadsheet and PDF form. These lists allow advisers, providers and clients to check which bodies are authorised to operate a register.

Operating the register

A registration body should have procedures for receiving applications, checking documentation, refusing incomplete or non-compliant applications, publishing register entries and removing advisers who no longer meet the conditions. It also needs data protection, record retention and complaint-handling processes because register information can affect whether an adviser is able to provide services.

Financial service providers should not treat adviser registration as a substitute for their own compliance controls. They remain responsible for ensuring that advisers understand the products and services offered, follow conduct rules, disclose required information and keep the registration body informed of relevant changes.