Swiss Fund Solutions
Waystone is authorised and regulated by FINMA to provide Swiss fund representation, distribution services and arrangements with the paying agent bank.
Our comprehensive Swiss Fund solution allows you to benefit from a high-quality level of fund governance, a continuous regulatory overview and a simplified process that reduces both costs and time to market.
Swiss fund representation services
Switzerland is an attractive market, of which Waystone has a deep knowledge. As a result, we are accredited by the Swiss Financial Market Supervisory Authority (FINMA) and authorised as an asset manager that is regulated to represent foreign funds for distribution in Switzerland to both professional and retail investors. Our Swiss fund representative agent solutions include the following:
- CISA compliance: we undertake Swiss fund representation in accordance with the Collective Investment Schemes Act (CISA). This includes direct communication with FINMA and investors, addressing any investor queries that may arise.
- Swiss fund analysis and due diligence: our experienced team will conduct a comprehensive analysis and due diligence on Swiss funds, ensuring they meet the necessary standards and regulatory obligations.
- Regulatory updates: we keep the fund manager informed about relevant regulatory developments in the Swiss fund market
- Representation for UCITs and AIFs: our expertise extends to UCITs and AIFs in Switzerland, catering to a diverse range of investment vehicles.
- Legal advice & initial FINMA-filing: we provide valuable legal advice to fund managers and assist in the initial FINMA filing process.
- Coordination with tax advisors: we facilitate seamless coordination with tax advisors, ensuring that all tax-related aspects are adequately addressed and compliant with Swiss regulations.
- Monitoring of distribution activities: we diligently monitor distribution activities, ensuring that they align with regulatory requirements and best practices.
- Paying agent services: we arrange for paying agent services with a reputable Swiss bank chosen by the fund manager.
FinSA-compliant fund management in Switzerland
The Swiss Financial Services Act (FinSA) came into force on 1 January 2020. As a result, regulatory requirements must be met when offering foreign funds to those investing in the Swiss market. These expanded regulatory requirements for Swiss funds now cover the following:
- collection & processing of documents
- client advisor training
- coordination of requests through register/ombudsman office
- notification of changes to register/ombudsman office
- an affiliation to an ombudsman
- registration of client advisors
- professional insurance requirements
- new organisational rules
- new conduct rules
- a new classification of Swiss investors.
The obligations that apply to each provider depend on the type of product being offered.
To meet those needs, we provide our clients with a comprehensive Swiss fund management solution package that ensures full compliance with FinSA.
Fund distribution in Switzerland
We will address all requirements connected to the distribution activity and facilitate the distribution of funds.
Our key Swiss distribution services include the following:
- providing access to banking distribution platforms
- contracting and performing due diligence of Swiss fund distributors
- providing fund distribution agreements that are compliant with the Swiss Fund and Asset Manager Association (SFAMA) standards
- negotiating, at the fund manager’s request, distribution contracts with fund distributors, within the limitations of the SFAMA distribution agreements
- facilitating contact with qualified institutional investors through capital introduction events and meetings
- acting as a global distributor, organising retro-cessions for fund distributors and third-party marketers.
Establishing Swiss Representation for an AIF Structure Timeline
|Party||Fund & Waystone||Waystone|
|Number of Business Days||15 Days||In the interim|
Timeline and Workflow to Obtain FINMA Authorisation for the Change of Swiss Representative
|Party||Fund & Waystone||Waystone||Fund & Depositary & Former Representative||Waystone||FINMA|
|Number of Business Days||15 Days||In the interim||5 Days||4 Days||19 Days|
Why Choose Waystone?
By choosing Waystone, you gain access to a team of knowledgeable and experienced professionals who are dedicated to providing clients with high-quality governance, continuous regulatory analysis, and a streamlined process that reduces costs and time to market.
To learn more about our European Solutions, get in touch with a Waystone representative today.
Swiss Fund FAQs
Under Swiss law, foreign investment funds must have a Swiss representative to ensure compliance with Swiss regulations, such as providing information to investors and regulatory authorities in the local language.
The main responsibilities of a Swiss fund representative are ensuring that the foreign investment fund is compliant with Swiss regulations such as providing information to investors, filing regulatory reports, and responding to inquiries from regulators.
Yes, but each representative must be registered with FINMA and meet the necessary requirements.
Having a Swiss fund representative can help foreign investment funds navigate the complex Swiss regulatory environment while providing local expertise and support for marketing and distributing their shares to Swiss investors.