Finma distribution rules confuse hedge funds
Hedge funds are confused over what Finma classes as 'marketing' and which pension funds they can approach
New Swiss regulations on asset managers have caused confusion among hedge funds, leading industry sources to suspect that some hedge fund distributers may be breaching them with little chance of punishment.
Large global alternative asset managers are thought to be familiar with the rules, introduced on March 1, but smaller managers from overseas are more likely to be marketing their funds to clients they are barred from contacting, it is understood.
The Swiss Parliament revised its Federal Act
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