
Function of the Conciliation Board
Is the Conciliation Board a neutral intermediary, and are the parties bound by its proposed settlement?
The Conciliation Board is neutral and acts as a competent intermediary with extensive experience in the financial services sector. With the aim of avoiding lengthy and costly court proceedings, voluntary extrajudicial dispute resolution procedures in various forms have been successfully used for many years in numerous countries.
The Conciliation Board is neither a court nor does it possess any judicial authority. Instead, it facilitates dialogue between the parties involved and presents them with a proposed settlement. Since the parties are not bound by the proposal of the Conciliation Board, they are free to accept it or to pursue other measures, for example legal action. If both parties agree to the settlement proposal made by the Conciliation Board, they are bound by the settlement, which then becomes enforceable in court.
Principles of the Conciliation Board

To ensure a fair and transparent mediation procedure, the Conciliation Board adheres to the following principles:
- Independence of the Conciliation Board, to ensure impartial conduct.
- Transparency of the procedure, enabling the parties to obtain all necessary information and evaluate the results objectively.
- Contradictory procedure, allowing both parties the opportunity to present their arguments and be informed of the opposing party’s position.
- Efficiency of the procedure, through an attempt at conciliation which – apart from a cost contribution of CHF 50.00 to be paid by the complainant – is otherwise free of charge and does not require the involvement of legal counsel.
- Freedom of action, as the decision is only binding on both parties if both have agreed to the settlement proposal of the Conciliation Board.
- Possibility of representation, should a party wish to be represented by a third party.

Professional confidentiality
Is the conciliator subject to confidentiality?
The Conciliation Board / conciliator is subject to confidentiality. The Conciliation Board will only contact the institution involved if the client has given consent.

Statute of Limitations
In proceedings conducted pursuant to the FSV, the initiation of such conciliation proceedings neither interrupts nor suspends limitation periods.
In conciliation proceedings conducted under the Alternative Dispute Resolution Act (AStG), the consumer’s intervention before the Conciliation Board does not definitively interrupt a limitation period, but it suspends the commencement and continuation of the limitation period as well as other deadlines for asserting the rights and claims affected by the procedure. Such suspension, however, only occurs if the Conciliation Board is competent to handle the submitted complaint.

Ordinance and Rules of Procedure
The rights and obligations of the Conciliation Board have been established by the Government in the Ordinance of 27 October 2009 on the extrajudicial Conciliation Board in the financial services sector (Finanzdienstleistungs-Schlichtungsstellen-Verordnung, FSV). This Ordinance, as well as the Rules of Procedure issued on 14 June 2016, applies only to financial service providers designated in Art. 10 FSV.
The rights and obligations of the Conciliation Board regarding conciliation procedures under the AStG are regulated in the Act of 04 November 2016 on Alternative Dispute Resolution in Consumer Matters (LGBl. 2016 No. 516) and in the Rules of Procedure approved by the Government on 17 December 2019.