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Old 29.04.2011, 16:21
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SROs - setting up Financial Services company

Setting up a new financial services company.

If FINMA informed that there is no FINMA authorisation necessary because the company is to deal only with qualified investors, does the company still need to be registered with a self regulatory organisation? Is it expensive to be registered with a self regulatory organisation? Which are best value for money in the Zurich/ Schwyz area?

If no public advertising is made (i.e. if foreign collective investment schemes are distributed only to qualified investors according to art. 10 of the Federal Act on Collective Investment Schemes [CISA]), FINMA authorisation is not required.
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Old 29.04.2011, 16:37
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Re: SROs - setting up Financial Services company

I hope you're not going to rely on EF advice to set up a company here.

This is a great question for a lawyer or corporate accountant.
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Old 29.04.2011, 16:39
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Re: SROs - setting up Financial Services company

Quote:
I hope you're not going to rely on EF advice to set up a company here.

This is a great question for a lawyer or corporate accountant.
Of course not but I want to minimise legal costs by getting as much info as possible before I go to a lawyer.
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Old 29.04.2011, 17:06
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Re: SROs - setting up Financial Services company

I guess before anyone answers this, they'd need to know what article 10 of the Federal Act on Collective Investment Schemes has to say, to be sure that you're interpreting this translated version of FINMA's advice correctly.

As far as I'm aware, each Kanton has it's own SRO, you can't pick and choose, and for Kanton Zürich it's Polyreg. Happy to stand corrected on this point, though.
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