Until recently, Switzerland applied a strict territorial approach to regulating financial services with a handful of a notable exceptions. After facing protectionist movements from other jurisdictions, the new Financial Services Act (FIDLEG, LSFin, FinSA) marks a clear departure from this approach. This article surveys the impact of the new regulation at the point of sale and at the point of production. It analyses how the FinSA regulates financial services providers who provide services to clients in Switzerland and subjects client advisors of foreign service providers to a registration duty unless they only serve professional and institutional clients and work for financial institutions that are under prudential supervision in its home country. It also considers the changes the regulation at the point of production. It also examines how the duty to prepare a prospectus approved by a Review Body applies to all public offerings for securities in Switzerland regardless of the jurisdiction of incorporation of the issuer. Similarly, it considers how the duty to prepare key information documents that applies, as a matter of principle, when financial instruments are provided to retail investors under an advisory relationship and, under certain circumstances, even for mere execution-only transactions create a form of product governance that was not part of the statutory goals of the new regulation. Finally, the article examines how the new rules apply to offerings of collective investment schemes. The article concludes by taking stock of the impact of this new regulation. It questions whether the new rules were necessary to protect investors in Switzerland and whether they contribute to improve Switzerland’s international economic relations.