The distribution of collective investment schemes vs. the offer according to the FinSA


The Federal Act on Financial Services (FinSA), adopted on 15 June 2018, and the related amendment to the Collective Investment Schemes Act (CISA) will lead to a complete paradigm shift in the distribution of collective investment schemes in Switzerland. Indeed, the notion of “distribution” introduced as part of the 2013 revision of the CISA will be abolished and replaced by the notion of “offer” provided for in the FinSA. The related ordinances will be published later this year.


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