Federal Council brings revised Collective Investment Schemes Act into force on 1 March

Bern, 13.02.2013 - At its meeting today, the Federal Council brought the revised Collective Investment Schemes Act and the revised Collective Investment Schemes Ordinance into force from 1 March 2013.

The referendum deadline for the amendment of the Collective Investment Schemes Act (CISA) expired on 17 January 2013 without a referendum being called. Today, the Federal Council adopted the amendment to the Collective Investment Schemes Ordinance (CISO), which implements the revised CISA. Both legislative instruments will come into effect on 1 March 2013. It was possible for the concerns raised within the framework of the consultation on the revision of the CISO to be taken into account, in particular in the provisions on the duty to obtain authorisation, fund contracts and real estate funds.

Two areas of legislation will not enter into force on 1 March 2013. The new legislative provisions on qualified investors and on the document containing important information for investors, which corresponds to the European "Key Investor Information Document (KIID)" will enter into force on 1 June 2013. The new provision on mandatory record-keeping within the framework of codes of conduct for its part will enter into force at both the act and ordinance level on 1 January 2014. The financial service providers affected will thus be guaranteed enough time for the organisational adaptations required.


Address for enquiries

Roland Meier, Media Spokesperson FDF,
Tel. +41 31 322 60 86, roland.meier@gs-efd.admin.ch



Publisher

The Federal Council
https://www.admin.ch/gov/en/start.html

Federal Department of Finance
https://www.efd.admin.ch/efd/en/home.html

https://www.admin.ch/content/gov/en/start/documentation/media-releases.msg-id-47754.html