Starting situation
Legal action is the only remaining option if the attempt at amicable resolution of the dispute fails. Such processes are usually extremely expensive, highly risky and need to be held before several courts (= time intensive).
Burden of proof
The burden of proof is often one of the biggest problems when you want to take action against an adviser. The problem is that orders are often placed verbally (by telephone). But the customer does at least have the right to demand to see all documents relating to his person.
Litigation costs
Court and solicitors’ costs can be considerable, especially for small investors as they often bear no relation to the loss suffered.
An alternative is to take recourse to the banking ombudsman. This is a cost free, neutral point of information and agency that concerns itself with specific complaints by customers against a bank with domicile in Switzerland.
Link: Swiss Banking Ombudsman
