![]() Whilst larger asset managers may have less of a problem absorbing the compliance and operational costs, consolidating with other asset managers or relocating to an EU jurisdiction, smaller independent asset managers may be in somewhat of a predicament. ![]() Swiss asset managers will now be subject to EU-like forms of authorisations and prudential supervision which will have a transformative impact on the Swiss asset management industry and bring additional costs, most notably compliance and operational costs, which will invariably adversely affect smaller independent asset managers. Gone are the days where Swiss asset managers could be independent and unregulated. It is now confronted with major regulatory changes which will align Swiss laws and regulation with AIFMD and MIFID. Until very recently the Swiss asset management industry relied exclusively on self-regulation and was allowed to operate and develop somewhat independently from European regulation.
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