Asset Management Association Switzerland ("AMAS") Publishes Revised Self-Regulation

The AMAS recently published a revised version of its self-regulation, which is the result of the revision of the Swiss Collective Investment Schemes Act ("CISA") triggered by the Swiss Financial Services Act ("FinSA") and the Swiss Financial Institutions Act ("FinIA"). This revised AMAS self-regulation is of particular practical importance, due to the recognition by the Swiss Financial Market Supervisory Authority ("FINMA") of several documents as setting a minimum standard to which all market participants have to adhere.

Introduction

Prior to 2020, the CISA contained rules of conduct and organisation requirements, to be complied with at the so-called "point of sale". Since January 1, 2020, FinSA governs such rules of conduct and organisation requirements exclusively.