Article

Rules of Conduct SFAMA

Regulatory, Compliance, Legal

February 2015

Changes for Swiss SICAV, KGK (LP), and SICAF based on the new rules of conduct of the Swiss Funds & Asset Management Association SFAMA

The new Rules of Conduct SFAMA for Swiss open-ended funds (SICAV), limited partnerships (LP) (KGK), and closed-end funds (SICAF) (“Funds”) have entered into force on January 1, 2015. The Rules of Conduct SFAMA replace the rules of conduct as of March 30, 2009 for the Swiss fund industry (“Rules of Conduct March 30, 2009”).

This gap-analysis between the Rules of Conduct March 30, 2009 and the as of January 1, 2015 applicable provisions with the Rules of Conduct SFAMA in the form of FAQ inform Swiss SICAV, KGK (LP), and SICAF having a FINMA-license as of January 1, 2015 about the required amendments of the existing documents and agreements respectively their new rights and obligations and in particular their date of entry.

Changes for Swiss SICAV, KGK (LP), and SICAF based on the new rules of conduct of the Swiss Funds & Asset Management Association SFAMA

February 2015

Changes for existing Representatives of foreign collective investment schemes based on the new rules of conduct of the Swiss Funds & Asset Management Association SFAMA

The new Rules of Conduct SFAMA for Representatives of foreign collective investment schemes (“Representatives”) have entered into force on January 1, 2015. The Rules of Conduct SFAMA replace the rules of conduct as of March 30, 2009 for the Swiss fund industry (“Rules of Conduct March 30, 2009”).

This gap-analysis between the Rules of Conduct March 30, 2009 and the as of January 1, 2015 applicable provisions with the Rules of Conduct SFAMA in the form of FAQ inform Representatives having a FINMA-license as of January 1, 2015 about the required amendments of the existing documents and contracts respectively their new rights and obligations and in particular their date of entry.

Changes for existing Representatives of foreign collective investment schemes based on the new rules of conduct of the Swiss Funds & Asset Management Association SFAMA

January 2015

Changes for existing Asset Managers of collective investment schemes based on the new rule of conduct of the Swiss Funds & Asset Management Association

The new code of conduct of the Swiss Funds & Asset Management Association SFAMA (Code of Conduct SFAMA) has entered into force on January 1, 2015. These are now applicable to fund management companies, asset managers of collective investment schemes with their registered office or branch in Switzerland, representatives of foreign collective investment schemes, investment companies with variable capital (SICAVs), limited partnerships for collective investment schemes (LP), and investment companies with fixed capital (SICAF). They contain especially for asset managers of collective investment schemes new provisions that are already applicable beginning as of January 1, 2015.

Changes for existing Asset Managers of collective investment schemes based on the new rule of conduct of the Swiss Funds & Asset Management Association
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