Revised Collective Investment Schemes Act comes into force at the beginning of March
Published: Wednesday, Jan 31st 2024, 12:10
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The Federal Council wants to make Switzerland more attractive as a fund center. On March 1, it brought the revised Collective Investment Schemes Act (CISA) and the amended Collective Investment Schemes Ordinance (CISO) into force, thereby creating the legal basis for the so-called Limited Qualified Investor Fund (L-QIF).
The new L-QIFs are collective investment schemes that are exempt from the authorization and approval requirements of the Swiss Financial Market Supervisory Authority (FINMA). They are available exclusively to qualified investors and must be managed by institutions that are supervised by Finma.
In addition, various other ordinances were amended as part of the revision, the Federal Council announced. The amendments relate in particular to the Financial Institutions Ordinance and are intended to implement international standards, follow market developments and increase legal certainty.
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