Managers fret about additional rules in ‘Swiss finish’
Mon May 21, 2012
Changes are afoot in the Swiss financial services sector. Joy Dunbar, editor of Absolute UCITS, explores what some of these changes might mean
Switzerland’s status as a 'light
touch’ centre – regarding by many an
offshore haven in the heart of of Europe – is
suddently being challenged as the country’s
parliament discusses proposed revisions to the regulation of
its financial services sector.
Proposed revisions to the Collective Investment Schemes Act
(CISA) envisage changes to regulation in the areas of
management, custody and distribution – though it
doesn’t cover new regulations on products like
"CISA should be seen in context with the Alternative
Investment Fund Managers Directive (AIFMD) rules in Europe and
aims to raise quality in asset management in general and
strengthen investor protection," a spokeswoman for the Swiss
Financial Market Supervisory Authority, or FINMA, says.
"Another aspect is to keep on giving asset managers the
ISSN: 2151-1845 / CDC10004H
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