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Financial Services Act

The Swiss Financial Services Act (FinSA) is a new regulation that came into effect on 1 January 2020, with a transitional period of two years for most of the requirements, which will become effective as of 01 January 2022.

The FinSA includes the new regulatory framework for the provision of financial services in Switzerland and the offering of financial instruments. The aim of this regulation is to increase investor protection and enhance transparency on the part of companies that provide financial services.

The FinSA applies whenever the financial service is provided in Switzerland, or to clients domiciled in Switzerland.

What changes will come about once FinSA comes into effect?

You can find general information about the changes brought in by FinSA in the Pictet Asset Management SA FinSA Brochure:

Swiss Financial Services Regulation Information Governing Investor Protection & Pictet Asset Management SA Types of Financial Services

For Pictet Asset Management SA clients that are in custody with Banque Pictet & Cie SA - What is the impact and how are the responsibilities pertaining to FinSA split between Pictet Banque & Cie SA acting as custodian bank and Pictet Asset Management SA acting as asset manager?

Pure custody services that are offered by Banque Pictet & Cie SA are not considered as financial service as per FinSA, therefore most of the new requirements must by complied with by Pictet Asset Management SA when servicing its clients. 

What are the financial services part of our offering governed by FinSA?

FinSA regulates the provision of financial services and the offering of financial instruments. It applies to financial service providers, client advisors and producers of financial instruments. Pictet Asset Management SA provides financial services that fall within the scope of this new regulation such as discretionary portfolio management, investment advice and execution-only (i.e. funds subscription-redemption) for institutional and professional target clientele as well as the production and provision of collective investment schemes. More information on which services are affected in the following brochure:

Swiss Financial Services Regulation Information Governing Investor Protection & Pictet Asset Management SA Types of Financial Services

What are the general risks linked to investment services and products?

Risks are inherently linked to the provision of financial services, especially when investing in certain types of financial instruments. You will find the relevant information about these risks in this brochure: 

Risks Involved in Trading Financial Instruments

How does Pictet Asset Management SA safeguard the best execution of orders?

Another objective of FinSA is to safeguard the principle of best execution of orders when trading in financial instruments. You can find more information about the Pictet Asset Management Best Execution Policy below: 

Pictet Asset Management Best Execution Policy & Order Handling Procedures

How does Pictet Asset Management SA manage conflict of interests?

Pictet AM SA adheres to the strictest ethical standards in asset management. It has taken organizational measures to prevent situations of conflict arising between the interests of Pictet Asset Management (including its employees and of any other business partners) and those of its clients. 

You can find more information about the Pictet Asset Management Conflict of Interest Policy below:

Pictet Asset Management Conflict of Interest Policy