EU and Switzerland strike agreement on fund supervision

The agreement allows the Swiss Financial Market Supervisory Authority (FINMA) and the European Securities and Markets Authority (ESMA) to monitor fund managers operating across the EU-Swiss border. Their supervisory role includes the exchange of information and assistance in enforcing relevant laws.

The agreement covers all Swiss alternative investment fund managers that market their products into the EU, as well as EU funds marketing into Switzerland. All information obtained from Swiss authorities can also be passed on to the European Systemic Risk board and other relevant EU authorities.

The cooperation has been agreed under a memorandum of understanding, which is necessary for the effective adaptation of the Alternative Investment Fund Managers Directive (AIFMD) by summer 2013.

ESMA is also working with other members of the International Organisation of Securities Commissions (IOSCO) to ensure a functional supervisory framework before the implementation of AIFMD.

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• Topics
• Regulation
• DACH
• EU Commission
• AIFM Directive
• Switzerland