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Key Information Document (KID)

There is the duty to produce a KID (key information document) if a financial instrument to retail clients is offered (Art. 58 FinSA).


The KID contains the information essential for investors to make a well-founded investment decision and a comparison of different financial instruments. It particularly contains:

  • the name of the financial instrument and the identity of the producer;
  • the type and characteristics of the financial instrument;
  • the risk/return profile of the financial instrument, specifying the maximum loss the investor could incur on the invested capital;
  • the costs of the financial instrument;
  • the minimum holding period and the tradability of the financial instrument;
  • information on the authorisations and approvals associated with the financial instrument.

Furthermore, the KID has to be a stand-alone document (clearly distinguishable from advertising) and easy to understand.

Note: Securities offer in the form of shares, including share-like securities allowing for participation rights, such as participation certificates, dividend rights certificates and non-derivative debt instruments, do not need a KID.

Key Information Document (KID)-image
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