Einfache Vermögensverwalter (pl.)
English translation: asset managers
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| 15:41 Nov 10, 2015 |
| German to English translations [PRO] Bus/Financial - Finance (general) / Changes to Swiss banking laws | |||||||
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|  Selected response from: barbarameyer | ||||||
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| Summary of answers provided | ||||
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| 5 | (non-qualified) asset manager |
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| 4 | common asset managers |
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| 4 -1 | asset managers |
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| Discussion entries: 12 | |
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Answers
1 hr confidence: 
peer agreement (net): -1
peer agreement (net): -1asset managers Explanation: According to the PD-FinIA, in future all types of asset managers will be subject to prudential supervision, resulting specifically in constant supervision, obligations that have to be met on an ongoing basis, and the submission of annual regulatory audit reports to the supervisory body. The new law makes a distinction between asset managers and qualified asset managers: An asset manager is someone who professionally manages assets on behalf and for the account of his clients under a mandate agreement or can otherwise dispose of his clients' assets. A qualified asset manager is someone who professionally manages assets on behalf and for the account of collective investment schemes (asset managers of collective investment schemes) or for Swiss occupational benefits schemes. http://www.mll-legal.com/index.php?id=446&L=2 |
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Notes to answerer
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5 hrs confidence:
common asset managers Explanation: Now that I have a little more time... A report by PWC on new rules for the Swiss financial centre, of which the German and English versions are linked below, states: "Die Einführung einer prudentiellen und damit umfassenden Aufsicht über die einfachen Vermögensverwalter ist als die wesentlichste Neuerung des FINIG für den Finanzmarkt zu beurteilen." " The introduction of prudential, comprehensive supervision of independent asset managers has to be considered the most significant change that FINIG will bring to the Swiss financial center." However, it is not consistent, as for the rest of the document, starting with the illustration on page 5, it refers to einfache Vermögensverwalter as 'common asset managers'. Yet for me 'common' actually works pretty well. It is not offensive in a way that 'unqualified' or 'unauthorised' would be, and allows us to draw a distinction between einfache Vermögensverwalter and qualifizierte Vermögensverwalter, which, as we have already learned, the Swiss Federal Finance Administration refer to simply as 'asset managers' (see http://www.vsv-asg.ch/uploads/file/interessenvertretung/vern... ). -------------------------------------------------- Note added at 5 hrs (2015-11-10 21:26:24 GMT) -------------------------------------------------- I'm not sure what this signifies for the asker, since the sentence cited above is the exact one she gave us for context in the discussion above. https://www.pwc.ch/user_content/editor/files/publ_bank/pwc_neue_regeln_fuer_den_schweizer_finanzplatz_durch_fidleg_und_finig.pdf https://www.pwc.ch/user_content/editor/files/publ_bank/pwc_new_rules_for_the_swiss_financial_centre_ffsa_and_finia.pdf |
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18 hrs confidence:
(non-qualified) asset manager Explanation: To differentiate the two categories, you do really need to add the bit in brackets, though I would keep it in brackets. Example from Swiss law on the subject: "A license to operate as a qualified asset manager thus also encompasses the ability to operate as a (non-qualified) asset manager (Art. 5 para. 3 FINIG)." |
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