Zurich, April 14, 2023 – Until recently, Swiss asset managers were not subject to FINMA supervision. This is changing with the new federal law on financial institutions. For their clients, this means even more security than before.
Asset managers in Switzerland now need a license from the Swiss Financial Market Supervisory Authority FINMA. They must comply with strict financial, organizational as well as personnel requirements defined in the Federal Act on Financial Institutions, which came into force on January 1, 2020. Asset managers such as FINAD must submit a detailed and comprehensive application, which is reviewed and approved by a supervisory organization and then forwarded to FINMA. The financial market supervisory authority makes the final decision on whether to grant the license.
We are pleased to inform you that FINAD is now in possession of a license. This license confirmation assures FINAD’s clients that the company is appropriately organized, has sufficient financial guarantees and that its managing persons offer guarantees of proper management, have an impeccable reputation, and possess the necessary professional qualifications. In addition, the Swiss Corporation for Supervision as supervisory organization and FINMA confirm that FINAD meets all legal and regulatory requirements.
By obtaining the license, we now meet the same high standards as established banks and can offer our customers even greater protection. Our founders set out in writing 47 years ago the core values of transparency, integrity, professionalism, and humility that have guided our actions ever since. Receiving the license confirms our commitment to these values and shows that adhering to them is a guarantee for successful cooperation with our customers.
“With the FINMA license, we are on the right track. For our clients, we remain the right partner in all wealth-related matters.”
Thomas Loher, Chairman of the Board of Directors