Sat, Oct 22, 2016
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. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. Macro hedge funds up 3.3% in one week on Fed and Brexit pays off[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were boosted by the strong performance of global macro funds, with the Lyxor Global Macro Index gaining 3.3% as of the week ending Oct. 11 (-1.7% YTD), Lyxor Asset Management reported. Their short on the p