Swiss KIDs and PRIIPs KIDs – latest requirements and deadlines
The Swiss Federal Council has made the decision to align the Swiss deadlines with those for the European PRIIPs KID. As a result, providing a KID will become mandatory from 1 January 2023.
Types of KIDs accepted in Switzerland
There are two types of KIDs are acceptable in Switzerland:
- a Swiss KID, with the format and contents outlined in Title 3, Chapter 2 of FinSA and FinSO; or
- a European PRIIPs KID, formally recognised as equivalent to a Swiss KID by Annex 10 FinSO.
This requirement applies to all funds approved by FINMA for the offer to private investors in Switzerland. Alternative funds, or UCITS funds not registered with FINMA for public offering, are not required to provide a KID to their Swiss clients.
In all cases, UCITS KIIDs will no longer be accepted for FINMA-approved funds and we therefore strongly recommend that our clients adopt the European PRIIPs KID format to maintain the highest compatibility with the EU market.
How Waystone can help
Waystone provides an integrated solution for producing PRIIPs KIDs compatible with the Swiss and European regulatory frameworks. If you would like more information or have any questions on this topic, please contact Luis Pedro at [email protected] to learn more about our Swiss Fund Solutions.