With a view to obtaining a FINMA licence, asset managers must revise their mandates, investment guidelines, risk assessments, general terms and conditions and so on to ensure compliance with the new regulatory requirements set out in FinSA & FinIA .
IGUV-Members can have these newly created or revised documents reviewed online by a recognized expert before they upload the documents to FINMA's EHP tool and release them for review by the supervisory organization.
In this way, the asset manager can avoid the worst mistakes in advance.The compliance expert will check the documents for the following points:
- missing elements
- Weak points
- Error
If the documents are hopeless, he will make an offer to replace the defective document.
Non-members-members
Depending on the expert, the fee is between 250 and 500 francs per hour. With an average of five pages per hour, this corresponds to approximately 50 to 100 francs per standard page. Telephone calls are usually billed at 10 or 15 minute intervals and incidental costs are charged separately. An advance payment of 10 hours is usually expected.
IGUV-Members
Instead of first contacting a compliance expert by phone, sending emails back and forth, attending appointments and incurring further costs, the review can also be done efficiently and online via IGUV.
The IGUV member is entitled to a consulting credit worth 800 francs per year, which corresponds to two hours or 10 standard pages with a maximum of 1,500 characters. Each additional page costs 50 francs*. For example, if 29 pages are uploaded for review, the advance payment is 950 francs, and if 100 pages are uploaded, the advance payment is 4,500 francs*.
The asset manager can also submit written questions. If these questions can be answered within two working hours, then the service is covered by the membership fee. If the question is more complex and further clarification is required, the compliance expert will submit a quotation.
IMPORTANT
- This offer is an online service with a corresponding price. Telephone enquiries or enquiries by e-mail are excluded from this offer and will be charged at the official conditions.
- The compliance expert only checks the submitted documents for the above-mentioned points. It is not his task to check whether the documents are actually aligned with the activities carried out by the asset manager. For this, the compliance expert would first have to conduct a detailed analysis of the asset management and the associated business risks.
- Even if the submitted documents meet the legal requirements and standards according to the expert, there is no guarantee that the asset manager will be accepted by the supervisory organisation with these documents.
* Further information on costs, value-added tax and breakdown of revenue collected in the service overview.