Newsletter 646: Cooperation of VQF and VSV

Dear Sir or Madam,

With the introduction of FIDLEG and FINIG on 1 January 2020, the sector of independent asset managers and trustees in Switzerland will also enter a new era. The transitional regime will begin in just a few months. By law, the supervision of independent asset managers and trustees will require new structures.

We are pleased to inform you that VQF and SAAM (VSV) have decided to cooperate closely in order to optimize the supervision. Under the FINcontrol Suisse brand, VQF and SAAM will jointly establish and operate a FINIG-compliant supervisory organization.

This will ensure that a strong professional supervisory partner is created for independent asset managers and trustees. This significantly increases planning security for our members. The synergy potential and economies of scale of this cooperation help to provide asset managers and trustees with an attractive, cost-efficient and competent supervisory organization. To promote the whole segment, the joint supervisory organization will also be open to independent asset managers and trustees who are currently not supervised by VQF and SAAM.

The Swiss Financial Market Supervisory Authority FINMA has been informed about the joint project of VQF and SAAM. In the implementation phase, a cooperative cooperation with FINMA will be sought.

For those financial intermediaries who do not require a new FINIG license, the VQF SRO will continue to exercise supervision over financial intermediaries in the parabanking sector as an AMLA self-regulating organization.

In due course, we will inform you about the next concrete implementation steps via the channels you are familiar with.

Yours sincerely,

Heinz Knecht                               Serge Pavoncello
President VQF a.i.                        President VSV

For further information:

Patrick Dorner, CEO of SAAM Verband Schweizerischer Vermögensverwalter, T. +41 44 228 70 10, patrick.dorner@vsv-asg.ch

Simon Wälti, CEO of VQF Verein zur Qualitätssicherung von Finanzdienstleistungen, T. +41 41 763 28 20, simon.waelti@vqf.ch