Newsletter Banking & Finance: Switzerland - Amendments to the Federal Act on Collective Investment Schemes
Switzerland, as one of the leading places for asset management and collective investment schemes, has been closely monitoring the current developments within the European Union (EU) regarding the Alternative Investment Fund Managers Directive (AIFMD).
In order to maintain the attractiveness of Switzerland for the collective investment and asset management industry, and to ensure access to the European market for asset managers domiciled in Switzerland, it has been decided to amend the Federal Act on Collective Investment Schemes of June 23, 2006 (CISA) to bring it into line with the AIFMD. The Swiss Federal Council has instructed the Federal Department of Finance (FDF) to prepare a draft for such new legislation by summer 2011.
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