As the global landscape for cryptocurrency continues to evolve, countries worldwide are defining their stances on digital assets. Indonesia, with its rapidly growing economy and technological advancements, has been no exception. The regulation of cryptocurrencies in country has become a focal point for both local and international investors. This article delves into the specifics of…
Commonly, legal opinion is what we consider as an experienced lawyer’s advice. It is presented in the form of a document prepared by a client’s requirement. The article will provide you with all interested details regarding the provision of legal consultation. Legal opinion: Why do we need it? Banks frequently demand LOs from risky businesses…
1. Sorts of Commercial Units, Their Homestead and General Charge issues This country offers diverse business units with distinct lawful divisions, including the SA requiring EUR 30,000 minimum capital and the SARL with EUR 12,000, managed by boards of directors. The SARL limits subsidiaries to one hundred and could not trade publicly, while the SCA…
1. Trade License Acquiring a pervasive trade licence is a pivotal step for most commercial functioning in Switzerland. This licence is mandatory that assures your commercial functioning bonds to indigenous market rules and protocols. Here’s what you should know: Submission routine: You can apply for a commercial licence to the local canton’s market branch. This…
This is a new investment opportunity – SPI license in UK for sale. Please check out the main details regarding this proposal below. SPI license in UK for sale: key considerations Small Payment Institution (SPI) in UK for sale; Company was licensed by FCA in 2018; Allowed activities (money remittance, foreign exchange); Company has 3…
Seize the opportunity to effortlessly establish your business in the UK with our ready-made company, complete with premium bank accounts at Barclays and HSBC. Key features Company for Sale in UK with Barclays & HSBC Accounts Company Details: – Incorporated: 2024 – Registered Address: England – Company Type: Private Limited Company – Nature of Business…
Are you ready to establish your business presence in the UK effortlessly? Discover our exclusive offer—a ready-made company with immediate access to Natwest, Revolut, and Wise bank accounts. Here’s what you need to know: Key features Company for Sale in UK with Established Bank Accounts – Company Details: Founded in 2024, work in non-specialised wholesale…
An active transportation company limited by shares (SA) in Switzerland is now available for sale. This company, was established in 2020 and operates in the passenger and cargo transportation sector with a focus on sea and rail transport. Key Features Transportation Company in Switzerland Corporate Structure Form: Company limited by shares (SA) Year of Registration:…
Zurich
+41 435 50 73 23Kyiv
+38 094 712 03 54London
+44 203 868 34 37Tallinn
+372 880 41 85Vilnius
+370 52 11 14 32New York
+1 (888) 647 05 40The main objective of the enormous industry known as asset management is to manage a client’s finances. Fundamentally, this entails the acquisition and administration of stocks, bonds, and funds. Business in this industry is a good chance for entrepreneurs that are attracted to successful projects. But, of course, any commerce requires a professional approach. In this article, you can learn more about a framework for a Swiss asset management company.
Switzerland does not have an extended license that covers all suppliers of financial services. While certain financial operations do call for licenses, others can be carried out essentially uncontrolled. The Swiss FINMA is responsible for previous licensing and continuing prudential oversight of such providers of fin services as:
Due to Switzerland’s non-membership in the EU, Swiss financial services operations are not subject to the same laws and regulations as those in other EU member states.
The conduct of asset management operations is governed by specific regs only when such services are offered in link with a CIS, require the trade of securities, or involve the governance of Swiss public pension resources. Swiss asset management companies
must apply for a particular license to run their business in Switzerland under the new law strategy of 2020.
The Swiss legislation against laundering money, which is founded on the guidelines published by the Financial Action Task Force (FATF) on Money Laundering, applies to asset managers in all cases as financial intermediaries and such. The AMLA specifically mandates that the pertinent financial intermediation register with and be under the direct or indirect oversight of a self-regulatory entity recognized by FINMA.
Financial intermediaries are required to follow specific organizational standards and know-your-customer regulations and processes as part of their obligations under the AMLA. Financial intermediaries must also notify the policies of any questionable transactions. This obligation to disclose assumes that the financial intermediary is aware of the illicit origin of the assets in question or has a solid suspicion that they are.
A person who professionally disposes of a client’s assets in their name and for their advantage is referred to as an asset manager by FinIA. According to the FinIA’s draft implementing ordinance, if any of the following criteria are met, an activity is deemed to be carried out on a professional basis:
Additional exemptions are allowed under the FinIA and FinIO. One of them states that asset managers do not belong under FinIA’s purview and do not need to seek a license to carry out their operations if they only handle the assets of customers with whom they have “economic” or “family” connections. The FinSA’s requirements apply to pure investment advisory operations, which are still unregulated.
Primary licensing criteria for asset managers under the legislative framework, in addition to the “fit and proper” standards:
If you want to establish your enterprise, we recommend consulting our experts. We can propose a lot of variants of Swiss asset management companies for sale.
Please contact us to get more information.
You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale” and “Licenses for sale”.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.