FIDLEG and MiFID II implemented in Avaloq

FIDLEG and MiFID II: Two legislations that regulate the relationship between the client and the financial institution. Two markets: Switzerland and the EU. Both investor protection standards affect practically the entire value creation process of a bank and have a deep impact on processes and systems. Both sets of rules are very similar but differ from each other in important details.

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Pascal Inauen
Associate Partner

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Differences between FIDLEG and MiFID II and their space for discretion

While the European legislation MiFID II is strongly rule-based and therefore very comprehensive and formalised, FIDLEG follows the Swiss tradition of principle-based legislation and offers considerable flexibility. However, both sets of rules are open to interpretation in certain respects and leave room for discretion. It is therefore good to know how other banks use them. Have you already tackled this challenge for your wealth advisory process? Are your systems and processes set up in compliance with the law?

Our dedicated MiFID II / FIDLEG team will be happy to assist you with efficient implementation in Avaloq. We have the necessary expertise and experience.

The official solution in Avaloq

Fully integrated into Avaloq, the Investment Suitability Framework (ISF) is the efficient answer to investor protection requirements. Thanks to our experience in the parameterisation of the ISF, the Business Rule Engine (BRE) and the integration of various third-party systems and external data suppliers, our Confinale solution is the official solution for implementing the FIDLEG or MiFID II requirements in Avaloq.

Features of this solution

  • Your existing investor protection infrastructure and wealth advisory solutions can be taken over.
  • External data providers for PRIIPs, asset data feeds, product risk classification or KID services are connected and embedded directly into the investment proposal.
  • Decision tables in Avaloq or third-party applications store interpretations made transparently and can be easily changed later if implementation practice changes.
  • Internal and external reports, containing statistical and transactional data, can be created for audit purposes with just a few clicks.

A comprehensive service partner

We guide you through the jungle of regulations and guarantee the success of your project thanks to our expertise in Avaloq ISF and BRE as well as the integration of third-party data feeds.

Everything from a single source

With our knowledge of technical feasibility, we offer great added value already in the specification phase. This efficiency in requirements elicitation accelerates the problem-solving process.

Specialised team

Our dedicated team consists of experienced project managers, business experts, business analysts, rule engine architects and Avaloq specialists from the areas of Compliance and Wealth Advisory.

Made for advisors

Implemented in the Avaloq Front Platform in a user-friendly manner the solution supports advisors in their investor protection-compliant work. Thanks to full integration into existing processes, it saves time and hassle.

Our offer

Are you looking for an implementation partner for FIDLEG or MiFID II or are you unsure whether your solution meets the requirements of the supervisory authority? We offer overall implementation, but also a "health check" of your existing solution and check whether processes can be optimised. We have extensive experience in the following areas:

  • Customer segmentation / customer classification
  • Product risk classification and target market conception
  • Tests for appropriateness & suitability
  • Product interventions
  • Best execution in terms of price/time, cost, quality, etc.
  • Ex-ante and ex-post information and documentation requirements
  • Reporting to authorities

For more information on our FIDLEG and MiFID II offering, please refer to our factsheets: FIDLEG applied (in German) and MiFID II & FIDLEG Solution.

Our service offer

We have the methods and skills to support you in the planning and implementation of your project.

  • Impact analysis and solution design
  • Detailed business and IT specification
  • Implementation in Avaloq
  • Integration of third-party providers: e.g. PRIIPs/KID/BIB services
  • Test support and operational takeover of your IT
  • Documentation & training of business users