Eternity Law International News Swiss Asset Management: regulatory changes

Swiss Asset Management: regulatory changes

October 4, 2022

Under its legal and regulative mechanism, FINMA imposed new regulatory changes for asset management and trust firms which, in line with them, are obliged to get licensed. The period for transition to new standards comes to an end in December 2022. To bring clarity, FINMA provided insight into the measures that have been undertaken against providers of pοrtfolio administration and trustee services.

Key points of Swiss asset management company licensing

As the FinΙA became effective at the beginning of 2020, both pοrtfolio managers, as well as trustees, have fallen under a licensing obligation. Art. 74 of FinIA grants such legal entities an implementation period for the proper fulfillment of the licensing terms, associate to a supervisοry organization (below mentioned as SO), and send a request to the regulator.
Aiming to inform applicants about the ongoing status of the authorization process and explain the measures undertaken to date, FINMA has published new guidance. In that statement, the regulative authority advised that all companies provide their complete applications to SOs by June 2022. Those companies that submitted their applications timely to the SOs are ready for the challenges of the authorizing procedures.

Institutions that have not yet initiated their licensing processes must admit that they may fail to complete the process till the end of the transition through their fault. As a result, they will not be approved for any deadline extension.

According to data from the SOs, they had 765 requests pending on 30 June 2022. The majority of the applicants have thus complied with the communicated deadline of 30 June 2022 for providing their applications. Hence, as of 31 July 2022, a total of 1 535 organizations were undergoing the licensing process or have already successfully finished it.

Also, it should be noted that in cases of infringements of financial law, FINMA imposes sanctions and will also do so if entities fail to apply till the end of the implementation period on 31 December 2022. For such latecomers there will be no prolonged deadlines or opportunities to apply a second time for a Swiss portfolio management license.

The liability for taking action in due course and staying in line with deadlines ending on December 2022 lies with the institutions. The SOs conduct preliminary reviews of the applications in line with FINMA’s stipulated terms.

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”.

You could be interested

Costa Rica gambling license

If it is necessary to legalize activities in the field of gambling, it is difficult to find a profitable way that will allow you to operate anywhere in the world. But a gambling license in Costa Rica is a real opportunity to start a business in the field of gambling. For a very long time,...

Company registration in Albania

Registration of a company under the jurisdiction of Albania and opening an account in one of the Albanian banking institutions is an excellent opportunity to implement large business projects and bring them to the European market. For entrepreneurs, Albania is beneficial for the following reasons: stable economic and political situation; advantageous geographic location; the banking...

Opening a brokerage company

Opening a brokerage company is a good option with the possibility of impressive earnings for a confident and progressive person. For successful work, it is worth getting acquainted with all the requirements in detail. First of all, determine the type of launch: resort to the help of White Label or solve all issues from the...

Forex license in South Africa

In this jurisdiction FSCA controls all transactions with crypto-currencies, in particular trade, in accordance with Financial Law. A firm intending to act in the Forex industry and carry out commercial operations in this niche needs to get such permission as Forex license in South Africa. Powers of local authorities Some time ago, FSCA had a...

ISO 20252: Market Research

The ISO 20252 standard is suitable for all marketing and social research agencies that need a clear and high quality service delivery. The standard provides guidelines for those who conduct, use, or acquire market or social research, and provides assurance that the required standards are valid. Building on the previous British standard, BS 7911, ISO...

Investment fund: how it works

Funds are fairly considered one of the most frequently applied products for getting gains. To receive the most out of them, it makes sense to figure out what they represent and what classes are best for different types of investors. What is an investment fund (IF)? A fund organized for investing purposes is a structure...
Fill the blank:


Dreikonigstrasse, 31A, Stockerhof


Baseina street, 7


Grosvenor Gardens, 52


Lochrin Square, 1


Jacovides Tower, 5 floor


Kesklinna linnaosa, Tuukri 19


Esplanade, 7 floor


Gediminas Avenue, 44A

New York

New Rochelle, Huguenot St, 175


20 Martin Place


3 Fraser Street, #08 DUO Tower

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai


2609 Avenida da Boavista


Revaz Tabukashvili Str., N 45, area N 7