June 17, 2021
Implementation of FinSA/FinIA – publication of revised guidelines – initially without FINMA recognition as minimum standard
The industry has entered the final phase of implementing the FinSA and FinIA. The transition periods specified in the FinIA for existing licensees expired at the end of 2020. The FinSA, meanwhile, gives financial service providers until the end of 2021 to implement its new rules. The transitional provisions additionally specify deadlines for phasing out certain provisions of the old CISA. These also expire on 31 December 2021.
As part of our ongoing effort to finalize the implementation of the FinSA and FinIA, the following Asset Management Association Switzerland guidelines have been revised: the Code of Conduct, the Guidelines for real estate funds, and the technical guidelines (Guidelines for money market funds, Guidelines on the valuation of assets and the handling of valuation errors, Guidelines on the calculation and publication of performance data, Guidelines on the calculation and disclosure of the TER). The provisions of the old Transparency Guidelines were also revised and integrated into the revised Code of Conduct. The Distribution Guidelines of 22 May 2014 and the KIID Guidelines of 20 January 2012 will cease to apply as of 31 December 2021.Guidelines (valid as of 1 January 2022)