The US Securities and Exchange Commission (SEC) will resume processing applications from FINMA supervised Swiss entities that want to conduct business as Registered Investment Advisers (RIAs) in the USA.

Swiss entities that offer investment advice and wealth management services and want to conduct business in the USA on a cross-border basis must register with the SEC.

Processing of new registration applications has been suspended by the SEC for several years.

The SEC will resume processing new and pending applications from Swiss asset managers immediately.

This is the result of discussions between FINMA and the SEC. FINMA and the SEC have clarified the modalities for examinations of Switzerland-based SEC-registered investment advisers that are also supervised by FINMA, consistent with the Swiss legislative framework (direct transmission of information under Art. 42c FINMASA and on-site examinations under Art. 43 FINMASA) and the U.S. securities laws.

Entities with a FINMA licence wishing to obtain further information on the supervisory cooperation may contact the following address: ria@finma.ch.