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ARTICLE · 15 AUGUST 2019

Alternative Investment Funds 2019

Bär & Karrer Ltd.
Bär & Karrer Ltd.
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Bär & Karrer Ltd.

Bär & Karrer Ltd.

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The establishment and operation of Alternative Investment Funds ("AIFs") (and their managers) is governed by the Federal Act on Collective Investment Schemes of 23 June 2006

SwitzerlandFinance and Banking

1 Regulatory Framework

1.1 What legislation governs the establishment and operation of Alternative Investment Funds?

The establishment and operation of Alternative Investment Funds ("AIFs") (and their managers) is governed by the Federal Act on Collective Investment Schemes of 23 June 2006 ("CISA", SR 951.31) and its implementing ordinances, Ordinance on Collective Investment Schemes of 22 November 2006 (CISO, SR 951.311), the Ordinance of the Swiss Financial Market Supervisory Authority on Collective Investment Schemes of 27 August 2014 ("CISOFINMA", SR 951.312) and the Ordinance of the Swiss Financial Market Supervisory Authority on Collective Investment Schemes of 6 December 2012 ("CISIO-FINMA", SR 951.315.2). In addition, the Swiss Financial Market Supervisory Authority ("FINMA") has published a number of circulars addressing specific areas of collective investment schemes law (such as the distribution of collective investment schemes). Finally, a number of

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