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     "https://kpmg.com/ch/en/industries/banking/financial-market-legislation/financial-market-law.html",
     "https://www.pwc.ch/en/publications/2019/FIDLEG-FINIG_EN_web.pdf",
     "https://www.swissrights.ch/gesetze/FIDLEG-EN"
    ],
    "source_url": "https://www.sec.gov/comments/s7-07-21/s70721-9131713-247288.pdf",
    "source_date": "1 January 2020",
    "conflict": {
     "values": [
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        "rule": "Art. 8 FinSA"
       },
       "source_url": "https://www.sec.gov/comments/s7-07-21/s70721-9131713-247288.pdf",
       "quote": "Financial service providers shall inform their clients of the following:",
       "source_date": "1 January 2020",
       "reason": "review PARTIAL: PARTIAL\n\nThe excerpt from Art. 8 FinSA states that financial service providers must inform their clients of certain details (e.g., name, address, risks, mediation proceedings), but the claimed value s"
      }
     ],
     "reason": "objects that did not verify (each with its reason)",
     "selection_rule": "none — unresolved"
    }
   },
   {
    "name": "review_triggers",
    "value": "not_found",
    "read_at": "2026-10-31T18:34:23Z",
    "pages_checked": [
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     "https://www.finma.ch/en/documentation/legal-basis/laws-and-ordinances/finanzdienstleistungen/",
     "https://kpmg.com/ch/en/industries/banking/financial-market-legislation/financial-market-law.html",
     "https://www.sec.gov/comments/s7-07-21/s70721-9131713-247288.pdf",
     "https://www.pwc.ch/en/publications/2019/FIDLEG-FINIG_EN_web.pdf",
     "https://www.swissrights.ch/gesetze/FIDLEG-EN"
    ]
   },
   {
    "name": "evidence_requirements",
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      "provision": "FinSA Art. 15 Documentation",
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     },
     {
      "provision": "FinSA Art. 15 para. 2",
      "requirement": "When providing investment advice, they shall also document clients' needs and the grounds for each recommendation leading to the acquisition or disposal of a financial instrument."
     }
    ],
    "read_at": "2026-10-31T01:56:33Z",
    "pages_checked": [
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     "https://www.finma.ch/en/documentation/legal-basis/laws-and-ordinances/finanzdienstleistungen/",
     "https://www.pwc.ch/en/publications/2018/FIDLEG-FINIG_EN_web.pdf",
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     "https://www.fedlex.admin.ch/filestore/fedlex.data.admin.ch/eli/cc/2015/853/20210801/en/doc/fedlex-data-admin-ch-eli-cc-2015-853-20210801-en-doc.doc",
     "https://www.loyensloeff.com/legal-500---capma-comparative-guide---swiss-chapter-2025.pdf",
     "https://www.finma.ch/~/media/finma/dokumente/dokumentencenter/myfinma/rundschreiben/finma-rs-2018-02.pdf?sc_lang=en"
    ],
    "source_url": "https://www.sec.gov/comments/s7-07-21/s70721-9131713-247288.pdf",
    "source_date": "Status as of 1 January 2020"
   },
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     "https://www.fedlex.admin.ch/eli/oc/2026/8/de",
     "https://www.fedlex.admin.ch/eli/cc/2008/736/en",
     "https://www.fedlex.admin.ch/filestore/fedlex.data.admin.ch/eli/cc/2019/759/20220101/de/html/fedlex-data-admin-ch-eli-cc-2019-759-20220101-de-html.html",
     "https://www.fedlex.admin.ch/eli/fga/2022/2724/fr",
     "https://www.finma.ch/en/~/media/finma/dokumente/dokumentencenter/myfinma/finma-publikationen/geschaeftsbericht/20200402_finma_jahresbericht_2019.pdf?la=en",
     "https://www.fedlex.admin.ch/filestore/fedlex.data.admin.ch/eli/cc/2019/759/20220101/en/pdf-a/fedlex-data-admin-ch-eli-cc-2019-759-20220101-en-pdf-a.pdf"
    ],
    "value": "not_found"
   },
   {
    "name": "exceptions",
    "value": [
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      "exception": "no obligation to publish an approved prospectus",
      "condition": "addressed only to a limited circle of investors",
      "source_url": "https://www.loyensloeff.com/legal-500---capma-comparative-guide---swiss-chapter-2025.pdf",
      "source_date": "15-07-2025",
      "read_at": "2026-10-31T18:33:15Z"
     },
     {
      "exception": "reverse solicitation exemption",
      "condition": "provided the securities have not been advertised in advance",
      "source_url": "https://www.loyensloeff.com/legal-500---capma-comparative-guide---swiss-chapter-2025.pdf",
      "source_date": "15-07-2025",
      "read_at": "2026-10-31T18:33:15Z"
     },
     {
      "exception": "no prospectus required",
      "condition": "public offerings solely aimed at investors classified as professional clients under FinSA",
      "source_url": "https://www.loyensloeff.com/legal-500---capma-comparative-guide---swiss-chapter-2025.pdf",
      "source_date": "15-07-2025",
      "read_at": "2026-10-31T18:33:15Z"
     },
     {
      "exception": "no prospectus required",
      "condition": "offerings addressed at fewer than 500 investors",
      "source_url": "https://www.loyensloeff.com/legal-500---capma-comparative-guide---swiss-chapter-2025.pdf",
      "source_date": "15-07-2025",
      "read_at": "2026-10-31T18:33:15Z"
     },
     {
      "exception": "no prospectus required",
      "condition": "offer not exceeding a total value of CHF 8 million over a period of 12 months",
      "source_url": "https://www.loyensloeff.com/legal-500---capma-comparative-guide---swiss-chapter-2025.pdf",
      "source_date": "15-07-2025",
      "read_at": "2026-10-31T18:33:15Z"
     },
     {
      "exception": "no prospectus required",
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      "source_url": "https://www.loyensloeff.com/legal-500---capma-comparative-guide---swiss-chapter-2025.pdf",
      "source_date": "15-07-2025",
      "read_at": "2026-10-31T18:33:15Z"
     },
     {
      "exception": "no key information document need be made available",
      "condition": "service provided exclusively in the execution or transmission of client orders, unless a key information document has already been produced",
      "provision": "Art. 8 para. 4 FinSA",
      "source_url": "https://www.sec.gov/comments/s7-07-21/s70721-9131713-247288.pdf",
      "source_date": "1 January 2020",
      "read_at": "2026-10-31T18:33:15Z"
     },
     {
      "exception": "Exemption from the duty to review",
      "condition": "solely executing or transmitting client orders",
      "provision": "Art. 13 FinSA",
      "source_url": "https://www.sec.gov/comments/s7-07-21/s70721-9131713-247288.pdf",
      "source_date": "1 January 2020",
      "read_at": "2026-10-31T18:33:15Z"
     },
     {
      "exception": "provisions of this chapter do not apply",
      "condition": "transactions involving institutional clients",
      "provision": "Art. 20 para. 1 FinSA",
      "source_url": "https://www.sec.gov/comments/s7-07-21/s70721-9131713-247288.pdf",
      "source_date": "1 January 2020",
      "read_at": "2026-10-31T18:33:15Z"
     },
     {
      "exception": "release from applying the code of conduct set out in Articles 8, 9, 15 and 16",
      "condition": "professional clients may expressly release financial service providers",
      "provision": "Art. 20 para. 2 FinSA",
      "source_url": "https://www.sec.gov/comments/s7-07-21/s70721-9131713-247288.pdf",
      "source_date": "1 January 2020",
      "read_at": "2026-10-31T18:33:15Z"
     }
    ],
    "read_at": "2026-10-31T18:34:23Z",
    "pages_checked": [
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     "https://www.am-switzerland.ch/en/topics/regulation/financial-market-architecture/finsa-finia",
     "https://www.finma.ch/en/documentation/legal-basis/laws-and-ordinances/finanzdienstleistungen/",
     "https://kpmg.com/ch/en/industries/banking/financial-market-legislation/financial-market-law.html",
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    "name": "orderability_profile_ref",
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    "read_at": "2026-10-31T02:19:45Z",
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     "https://www.sec.gov/comments/s7-07-21/s70721-9131713-247288.pdf",
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     "https://www.finma.ch/~/media/finma/dokumente/dokumentencenter/myfinma/rundschreiben/finma-rs-2018-02.pdf?sc_lang=en"
    ]
   },
   {
    "name": "sources",
    "value": "not_found",
    "read_at": "2026-10-31T01:55:54Z",
    "pages_checked": [
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     "https://www.swissrights.ch/gesetze/FIDLEG-EN",
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    ]
   }
  ],
  "reading": {
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   "order": "TMKT-01 (2026-11-01): manufacturer_evidence_accepted read against the regime's distributor and manufacturer provisions, per required item (Appendix C 0.2)",
   "read_at": "2026-11-01T19:57:52Z",
   "engines": {
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     "status": 200,
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    },
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    },
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     "read_at": "2026-11-01T19:57:43Z",
     "last_modified": "Thu, 15 Oct 2026 18:13:58 GMT"
    },
    "https://www.fedlex.admin.ch/filestore/fedlex.data.admin.ch/eli/cc/2019/759/20220101/de/html/fedlex-data-admin-ch-eli-cc-2019-759-20220101-de-html.html": {
     "status": 200,
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     "last_modified": "Fri, 07 Jan 2022 12:05:56 GMT"
    },
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     "sha256": "sha256:1d4ada9f21e5fa1802420f59e6c331de4257a315e847e1c788fe2cb1fc31882c",
     "read_at": "2026-11-01T19:57:43Z",
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    },
    "https://www.finma.ch/en/~/media/finma/dokumente/dokumentencenter/myfinma/finma-publikationen/geschaeftsbericht/20200402_finma_jahresbericht_2019.pdf?la=en": {
     "status": 200,
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     "last_modified": "Sat, 05 Feb 2022 18:45:10 GMT"
    },
    "https://www.fedlex.admin.ch/filestore/fedlex.data.admin.ch/eli/cc/2019/759/20220101/en/pdf-a/fedlex-data-admin-ch-eli-cc-2019-759-20220101-en-pdf-a.pdf": {
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     "read_at": "2026-11-01T19:57:43Z",
     "last_modified": "Tue, 01 Feb 2022 10:46:37 GMT"
    }
   },
   "counts": {
    "filled": 0,
    "not_found": 1,
    "conflict": 0,
    "inferred": 0,
    "kept": 0,
    "unstructured": 0
   },
   "notes": {
    "manufacturer_evidence_accepted": "0 of 4 items accepted — the regime names no manufacturer evidence on the pages read · was: not stated on the pages read"
   },
   "correction": {
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    "at": "2026-11-01T20:03:11Z",
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    "what": "manufacturer_evidence_accepted in its §7.2 form: no item accepted on the pages read, so the field is not_found with every page checked; the reading is the one of the version superseded, not made again"
   }
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