On December 20, 2021, the Swiss Financial Market Supervisory Authority FINMA will grant ARODE SA a license to operate as an asset manager. This authorization is coveted by the 2,521 registered asset managers and trustees who must pass through this new stage in order to continue their activities. For the time being, only about sixty of them have obtained this qualification, which requires guarantees of irreproachable activity and an organization in accordance with the highest standards of governance, particularly in terms of risk management and conflicts of interest.
Since the entry into force of the Federal Law on Financial Institutions (FINMA) on January 1, 20, independent asset managers are subject to the obligation to obtain a license from FINMA. The deadline for applications is December 31, 2022. The Authority encourages asset managers not to wait for the deadline and to file their applications as soon as possible. With this authorization process, Switzerland is moving closer to the European regulations on prudential supervision and investor protection. The market conduct rules and the capital adequacy requirements will complement the anti-money laundering rules already applicable to independent asset managers.
