FINMA recognizes more self-regulatory provisions in the asset management industry

After having recognized five self-regulatory provisions of industry organizations operating in the asset management industry as minimum standards for self-regulation in April, FINMA has now recognized self-regulatory provisions from two more industry organizations in this business segment. The regulations are the following:
  • “Règlement relatif aux règles-cadres pour la gestion de fortune” issued by the OAR-G Organisme d'autorégulation fondé par le GSCGI et GPCGFG;
  • “Règles d’Ethique Professionnelle” issued by the Swiss Association of Independent Financial Advisors (SAIFA).
The respective industry organizations are responsible for the actual implementation and monitoring of these regulations and also define who they apply to. Independent asset management is not subject to supervision in Switzerland with the exception of matters relating to anti-money laundering law.