New obligations for independent asset managers and trustees

With the introduction of the Financial Institutions Act (FINIG) on January 1, 2020, independent asset managers and trustees will now be subject to a licensing and supervisory obligation. An asset manager is someone who, based on an order, can dispose of their assets commercially in the name and for the account of clients (Art. 17 FINIG). Asset managers and trustees must report to FINMA by June 30, 2020 and comply with the legal requirements by December 31, 2022 at the latest. You can find more information here:


https://www.finma.ch/en/authorisation/fidleg-und-finig/