SEC-FINMA Accord: Swiss Wealth Managers can once again access the U.S. market in the U.S.
Key Implications:
Direct access to U.S. clients and markets is restored
New process for transmitting sensitive documents, allows SEC inspections in Switzerland
After years of regulatory deadlock—rooted in conflicting data privacy standards and oversight requirements—the recent agreement between the U.S. Securities and Exchange Commission (SEC) and FINMA, the Swiss Financial Market Supervisory Authority, means Swiss asset managers are once again able to register with the SEC and access the world’s largest wealth management market.
This is a long-awaited breakthrough.