Opalesque Industry Update - The Asset Management Association Switzerland (AMAS) says it is "continuing to raise the bar for quality and transparency of sustainable assets managed collectively" with its new self-regulation framework for sustainable finance. This framework lays down the organisational requirements for financial institutions, as well as for product design and disclosures to investors. With this voluntary self-regulation framework, AMAS raises the standards of the Swiss financial centre in sustainable finance, both in Switzerland and abroad.
The Asset Management Association Switzerland (AMAS) believes its key roles include raising the standards of the Swiss asset management industry in sustainable finance and taking initiatives to continuously enhance the framework conditions for designing and managing collective sustainable investment products. AMAS is now taking another important step in self-regulation of transparency and disclosure standards in sustainable collective asset schemes. "Self-regulation enhances the quality of collectively managed sustainable assets through binding standards, while improving transparency through comprehensive documentation and reporting obligations", said Iwan Deplazes, Chairman of AMAS. For the first time, financial institutions that design and manage collective sustainable investment products will be subject to binding and self-regulated standards, along with disclosure obligations. Non-AMAS members may join this framework. The key points of the self-regulation framework:
The voluntary self-regulation framework was developed under a broad-based approach. It will come into force on 30 September 2023. With its explicit references to both institutional and product levels, it dovetails with the self-regulation process of client advisory that the Swiss Bankers Association has introduced. |
Industry Updates
Swiss body introduces self-regulation for asset managers and designers of collective investment products
Monday, September 26, 2022
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