Regulatory & Compliance

De minimis portfolio managers under FinIA

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Since the introduction of the Financial Institutions Act (FinIA), all portfolio managers require a licence from Swiss Financial Market Supervisory Authority FINMA. A distinction is made between portfolio managers under Art. 17 FinIA (i.e. managers of individual assets) and portfolio managers under Art. 24 FinIA (managers of collective assets).

Managers of investment funds or pension funds with a total volume below certain thresholds are considered "simple" portfolio managers from a regulatory perspective, i.e. they are not directly supervised by FINMA and must meet less stringent regulatory requirements. They form the new category of "de minimis portfolio managers".  However, initial practical experience shows that FINMA and supervisory organisations (SOs) have specific expectations of de minimis portfolio managers and their stakeholders.

In the April issue of B2B Magazin,  Dr. Fabian Schmid and Anael Rosalen shed light on the special features of de minimis portfolio managers and their differences from portfolio managers of collective assets.

 

Article as PDF (in German)

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