The case
The U.S. Securities and Exchange Commission (SEC) has announced the resumption of processing applications from Swiss entities seeking to register as U.S. Registered Investment Advisers (RIAs).
The commentary
This follows a suspension that had been in place for several years due to concerns over data-sharing and oversight capabilities. The lifting of the moratorium is effective immediately. The renewed cooperation between the SEC and the Swiss Financial Market Supervisory Authority (FINMA) enables direct transmission of information from Swiss firms to SEC staff and allows for on-site examinations in Switzerland. For more see link.
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