01. Compliance with FinIA / FinSA
The FinIA and FinSA laws are part of the new financial market architecture. They aim to create a level playing field, strengthen the competitiveness of the financial center and improve client protection.
FinSA defines rules for all financial service providers concerning both the provision of these services and the offering of financial instruments and also simplifies the exercise of their claims for clients. The FinIA introduces differentiated supervisory rules for financial institutions (portfolio managers and trustees, collective asset managers, fund managers and securities firms).
Both new laws and their implementing ordinances came into force on 1 January 2020.
The law provides for the mandatory registration of all portfolio managers and trustees with a supervisory authority. This registration is a basic requirement for the granting of a license by FINMA.
Financial institutions that are not required to obtain a license under the old law but are required to obtain one under this Act must register with FINMA within six months of the entry into force.
They must meet the requirements of the FINMA Act and apply for a license within three years of the entry into force.
They may continue to operate until a decision is made on the license, provided they are affiliated with a self-regulatory organization in accordance with Article 24 of the Federal Act of 10 October 1997 on Anti-Money Laundering (AMLA) and are subject to the supervision of this organization with regard to compliance with the money laundering obligations.
Asset managers and trustees must have an adequate risk management system and effective internal controls which, among other things, ensure compliance with legal and internal regulations. In addition, the law requires that compliance functions be performed by an appropriately qualified person within the company or that they be delegated to a qualified external body.
Kaurum accompanies portfolio managers and trustees in the process of compliance with FinIA/FinSA until the FINMA authorization is granted. We offer a turnkey service which includes the following steps
Our turnkey service not only allows the compliance with FinIA/FinSA but also the outsourcing of the risk management and internal controls to Kaurum (see explanations below).
02. Outsourcing risk management and internal controls
Kaurum enables portfolio managers and trustees to outsource all or part of their risk management and internal control functions (including KYC).
This service allows to :
Our service aims to provide companies with a level of flexibility similar to an in-house solution. This results in real added value for clients, and therefore a sustainable competitive advantage.