CapLaw-2012-28

A Comment from the Editors As reported in CapLaw-2012-13, against the background of new regulatory developments in the European Union, Parliament is currently debating an important revision of the Collective Investment Schemes Act (CISA). The proposed partial revision of the CISA is intended to primarily bring the regulatory provisions regarding asset managers in line with those foreseen in the Alternative Investment Fund Manager Directive (AIFMD) which recently entered into force. The AIFMD provides for extensive regulation of managers managing EU- or third country-based alternative investment funds (such as hedge funds). In order for Swiss asset managers to still be able…