FinSA and FinIA - New Regulation for Portfolio Managers and Trustees

Since 1 January 2020, the Financial Institutions Act FinIA and the Financial Services Act FinSA have governed the licensing requirements and the regulations governing the services rendered by portfolio managers and trustees in Switzerland. The legislative package is a step-up to meet the changed market environment and the changing needs of society. In order to meet with international acceptance, FIDLEG and FINIG deliberately draw strong parallels to MiFID II.

The main innovations in the portfolio management and trustee sector are the establishment of rules of conduct on a regulatory (legal) level, new requirements for compliance structures and management, mandatory financial collaterals and a new prudential supervisory regime including a mandatory FINMA approval.

The legislative project was discussed very controversially right from its initiation and only took on its current, viable form with the intensive involvement of VQF and other market associations in the parliamentary process.

More about timeline and milestones

Please find more information directly on the websity of the Federal Department of Finance.