Practice shows that some independent asset managers who have set a deadline of 2022 for applying for a Finma license have lost sight of Fidleg and risk violating the new regulations before having applied for a Finma license, Lamara von Albertini writes in an essay for finews.first
At the end of the year, the two-year transition period for most of the provisions of the Financial Services Act (Fidleg) will end. The focus of the new law is to improve investor protection and to align it with EU law.
But where do financial service providers stand, what can their clients expect from them, where are the stumbling blocks and what can be recommended to financial service providers? First insights from practice.