FINMA recommends portfolio managers and trustees submit licence applications in good time

Half way through the three-year transition period, only 180 out of around 2,400 portfolio managers and trustees affected have so far submitted a licence application to the Swiss Financial Market Supervisory Authority FINMA. FINMA therefore strongly recommends the applicants not to lose any time in initiating the licensing process. As a further topic, FINMA wishes to draw attention to the provisions concerning the duty to register client advisers in force since 1 August 2021.