FIDLEG (German: Finanzdienstleistungsgesetz; English: Financial Services Act, FinSA) has regulated the conduct duties of financial service providers in Switzerland since 2020. It includes the obligation to provide transparent information, prospectus requirements for public offers, and clear investor-protection rules.
Asset tokens fall under this regime, which places them on legal par with classical securities. The combination of the DLT Act and FIDLEG is uniquely clear globally — there is no other major financial jurisdiction in which tokenised securities are so unambiguously regulated. That clarity is precisely why serious tokenisation projects gravitate to Switzerland.
What the Act requires. The Financial Services Act, FinSA in English and FIDLEG in German, has applied since 1 January 2020 with transition periods that ended in 2021. It sorts clients into retail, professional and institutional segments, sets conduct rules for anyone offering financial services, and requires a prospectus for public offers of securities unless an exemption applies, for instance for small offers, offers to fewer than 500 investors or offers limited to professional clients. Financial instruments offered to retail clients also need a key information document, a short standardised sheet on risks, costs and terms.
Why it matters for robot ownership. Asset tokens are securities, so a token representing a share of a robot pool is offered under these rules. For the investor that is useful: the prospectus or the exemption tells you how large the offer is and to whom it is open, and the key information document is the one place where costs and risks have to be stated in plain terms. For the issuer it means the offer has to be structured before it is marketed, not after.
What to check. Whether a prospectus was published or which exemption is relied on; whether a key information document is available before you commit; how you have been classified as a client; and whether the people advising you are entered in a client adviser register. These are documents you are entitled to see, not favours.