PwC ‛FinIA Service Package’ for portfolio managers and trustees

PwC supplements its comprehensive FinSA/FinIA service range by adding attractive fixed-price offers for support in obtaining FINMA authorisation as a portfolio manager or trustee in accordance with FinIA.

As a result of the Financial Institutions Act (FinIA), which entered into force on 1 January 2020, portfolio managers and trustees are obliged to obtain authorisation from FINMA as portfolio managers or trustees. After authorisation has been granted, they will be prudentially supervised by a supervisory organisation (SO).

The transitional provisions stipulated in the FinIA and the Financial Institutions Ordinance (FinIO) envisage that the application for authorisation must be submitted to FINMA by 31 December 2022. However, the deadline for implementing the requirements of the Financial Services Act (FinSA), which also came into force on 1 January 2020, expires on 31 December 2021.

PwC ‛FinIA Service Package’

In order to provide portfolio managers and trustees with effective and cost-efficient support in the implementation of FinIA and FinSA, PwC has developed two fixed-price service packages, which provide comprehensive support with the application for authorisation. Both packages include various advisory meetings as well as the preparation of the application for authorisation and assistance in affiliation to an SO.

Within the scope of the application preparation, PwC will draft organisational documents tailored to the applicant’s specific business activity (articles of association, organisational regulations, internal policies). In doing so, PwC always has the goal of addressing the special aspects of each individual case and making the organisation as efficient as possible. While the FinIA Basic package is suitable for simple settings and for trustees, the FinIA Advanced package is tailored to portfolio managers with more complex circumstances – for example, portfolio managers with significant cross-border activities or de minimis managers of collective assets.

In addition, on request, PwC also offers packages with standard documents for the implementation of FinIA and/or FinSA that do not include any advice.

FinIA Service Package «Basic»

  • Two consultations
  • Preparation of request
  • Amendment of articles of association
  • Creation of organisational regulations
  • Creation of amended internal directives
  • Various sample documents
  • Coordination with the customer
  • Submission of request

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FinIA Service Package «Advanced»

In addition to the Service Package «Basic»:
  • One extra consultation
  • Creation of additional required directives
  • Further amendment of organisation

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Why PwC?

Firstly, PwC has extensive experience in supporting FINMA authorisation applications and is able to build on this experience. PwC’s experience covers simpler authorisations in the portfolio and asset management area as well as complex banking and financial market infrastructure authorisations. In addition, PwC has supported numerous banks, securities firms, fund management companies and managers of collective assets in the implementation of FinSA. This cumulated competence is now also available for smaller and very small portfolio managers.

Secondly, PwC has always recognised the importance of small and medium-sized companies for Switzerland as a business location and has developed dedicated service offerings accordingly. PwC is therefore very familiar with the concerns of smaller organisations and knows how to factor them in.

Contact us

Martin Liebi

Martin Liebi

Director, Legal, PwC Switzerland

Tel: +41 58 792 28 86

Dr. Jean-Claude Spillmann

Dr. Jean-Claude Spillmann

Partner, Head Asset & Wealth Management and Banking Regulatory, Legal, PwC Switzerland

Tel: +41 58 792 43 94