At a glance: cryptoassets for investment and financing in Switzerland lexology.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lexology.com Daily Mail and Mail on Sunday newspapers.
Overview of recent activity
With its long tradition of banking and finance, Switzerland is one of the leaders at the international level in the asset management industry. Swiss asset management constitutes one of the main pillars of the Swiss financial centre.
The asset management industry in Switzerland is heterogeneous and applies different business models. Large banking institutions active in wealth management (private banking) coexist with a number of smaller niche players. Independent asset managers represent the lion s share of the para-banking sector within the Swiss financial industry, with, until 1 January 2020, a limited level of regulatory oversight. This situation drastically changed with the entry into force of two new statutes, in January 2020 – the Financial Institutions Act (FinIA) and the Financial Services Act (FinSA) (see Section II.ii). As we will see, those new Acts materially affect the organisation and activities of independent asset managers who are to rev