November 17, 2020
Fund Market Statistics – October 2020
In October 2020, the volume of assets placed in the investment funds covered by the statistics compiled by Swiss Fund Data AG and Morningstar stood at CHF 1,235.2 billion, down CHF 14.0 billion or 1.1% month-on month. Net inflows totaled CHF 4.7 billion.
November 12, 2020
FINMA adopts regulation implementing FinSA and FinIA
The Swiss Financial Market Supervisory Authority FINMA has adopted its regulation implementing FinSA and FinIA. This encompasses a new implementing ordinance to FinIA as well as changes to FINMA ordinances and circulars that need to be adjusted as a result of FinSA and FinIA. Three circulars will be repealed. The adjustments will come into effect on 1 January 2021 and thus within the running transitional periods stipulated in FinSA and FinIA.
To the FINMA media release
November 10, 2020
Limitation on ombudsman affiliation requirement
The current legal situation requires all financial service providers to be affiliated to an ombudsman by 25 December 2020. In order to avoid a situation whereby financial service providers that serve solely institutional or "per se" professional clients have to be affiliated to an ombudsman initially, only to be released from this requirement a few months later, the limitation on the ombudsman affiliation requirement decided by Parliament shall be brought into force on the earliest possible date. Since it is first necessary to wait for the referendum deadline to expire, this is 1 February 2021. The affiliation requirement for financial service providers serving solely institutional or "per se" professional clients would be contrary to the clear intention of the parliament. For this reason, it has been agreed with FINMA that the supervisory authority will not enforce this requirement in the period from 26 December 2020 to 31 January 2021.
For further details we refer to the specialist information of the FDF of 9.11.2020