The U.S. Securities & Exchange Commission announced that it will immediately resume processing new and pending registration applications for investment advisers whose principal office and place of business is in Switzerland. The change follows discussions with the Swiss Financial Market Supervisory Authority (FINMA) on two supervisory access issues: whether FINMA-supervised, SEC-registered investment advisers in Switzerland can provide books and records, including personal data, directly to SEC staff, and whether the SEC can conduct on-site visits of these entities in Switzerland in a manner consistent with U.S. securities laws and Swiss law. SEC Chair Paul S. Atkins indicated the agency will move to provide prompt consideration to applications that have been delayed for years.
U.S. Securities & Exchange Commission 2025-06-10
U.S. Securities & Exchange Commission will immediately resume processing registration applications from Swiss-based investment advisers
The U.S. SEC will resume processing registration applications for Swiss-based investment advisers after discussions with the Swiss Financial Market Supervisory Authority on supervisory access issues, including providing books and records to SEC staff and conducting on-site visits under U.S. and Swiss laws. SEC Chair Paul S. Atkins emphasized prompt consideration for delayed applications.