You are here:
10 April 2020 / article

A guide to Switzerland’s new licensing rules for portfolio managers

The new Financial Institutions Act (FinIA) and the implementing Financial Institutions Ordinance (FinIO) are effective in Switzerland as of January 1 2020. Under the previous regime, asset managers of individual portfolios (portfolio managers) were not subject to any licensing requirement nor prudential supervision, except from compliance with AML requirements and sectorspecific standards.

The new EU prospectus regulation

Portfolio managers that were active and compliant with the old regime before January 2020 will have three years to comply with the new licensing requirements and file an application for a licence with FINMA. Portfolio managers starting their activities in 2020 will mainly be subject to the new licensing requirements from the beginning, with certain exceptions.

Loyens & Loeff associate Diana Lafita explains what portfolio managers need to know about the new requirements and how they fit into the existing regulatory framework.

The article can be read here.