Sat, Jul 4, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Swiss Funds Association voices opposition to Collective Investment Schemes Act

Tuesday, March 27, 2012

Bailey McCann, Opalesque New York:

In a letter released yesterday, the Swiss Funds Association attacked several provisions of proposed amendments to the Collective Investment Schemes Act (CISA), a swiss law that governs many investment activities in the country.

When the law was enacted in 2006, it was designed to bring Switzerland in line with EU funds directive UCITS (Undertakings for Collective Investments in Tranferable Securities) and strengthen the overall competitiveness of the Swiss financial sector. More recently, officials have proposed slight changes. In the letter, the Swiss Funds Association says that these changes will have a significant and adverse impact on the financial services sector. They cite, "globally unique discrimination of the Swiss financial sector and the lack of measures to strengthen competitiveness."

According to the Association, these changes are dire - "Improvements must be made to prevent the loss of jobs and the migration of entire product categories."

The Swiss Federal Council is attempting to address some gaps in CISA through the amendment process. Specifically, distribution regulations and liability requirements for investment schemes. The Association charges that the Federal Council has overstepped its bounds and missed the desired target in the process.

"Many CISA provisions go beyond the EU standards, or create specific Swiss features where there......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: New systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Opalesque Exclusive: New systematic strategy embraces machine learning[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The founder of a New York-based systematic trading firm, which offers a hybrid between alpha strategies and alternative feta at lower fees, describes his approa

  3. Larry Robbins' hedge fund Glenview buys 1m Tenet Healthcare shares[more]

    Komfie Manalo, Opalesque Asia: Glenview Capital Management said it bought an additional 979,482 shares at Tenet Healthcare Corp valued at $53.80 million, raising its stakes in the healthcare services company to 15.16%, reported

  4. Legal - Grayson’s hedge funds under scrutiny for possible ethics violations, Court rejects hedge fund’s motion to block merger of Samsung affiliates[more]

    Grayson’s hedge funds under scrutiny for possible ethics violations From Freebeacon.com: Rep. Alan Grayson is finding himself in hot water over managing hedge funds that bear his name, actions that are in possible violation of House ethics rules. Sitting members of Congress are prohibite

  5. Hedge funds decline in June as stocks tumble on Greek woes[more]

    From Bloomberg.com: Hedge funds posted losses across strategies last month as uncertainty over whether Greece will remain in the euro sent global stock markets tumbling. Winton Capital Management declined about 3.1 percent in June in its $12.1 billion Winton Futures Fund, leaving it down 1.9 percent

 

banner