The activity of credit brokering requires an additional cantonal authorization. These authorizations are granted by the cantons but are valid across Switzerland. Additionally, an SRO membership is often necessary, as credit brokering is considered a financial intermediary activity subject to AML regulations.

Individuals seeking a credit broker authorization must:

• Have a good reputation and demonstrate a commitment to impeccable conduct.
• Have no criminal convictions related to the activity in the five years preceding the authorization application.
• Not have any acts of bankruptcy against them.
• Possess three years of experience in the financial services sector.
• Provide securities amounting to CHF 10,000 to cover potential damages arising from the activity.

These securities can be established through one of the following means: a. Adequate professional liability insurance; b. A guarantee or surety from a bank or an equivalent security; c. A blocked account with a bank.

SynHedge supports you throughout the authorization process.