The Securities and Exchange Commission (SEC) recently announced that it has resumed processing new and pending investment advisers’ registration applications. The advisers have their principal office and place of business located in Switzerland.
“I am very pleased to announce that the SEC stands ready to provide prompt consideration of the registration applications from Swiss investment advisers,” Paul S. Atkins, SEC chairman said. “These applications have languished for too many years, and it is well past time that we resume this process. Longstanding interest from foreign investment advisers in registration demonstrates the value of the U.S. regulatory framework, and we look forward to expanding access to U.S. capital markets. I thank my FINMA (Swiss Financial Market Supervisory Authority) counterparts for their collaboration and welcome their actions to make this possible.”
Staff from the SEC and FINMA successfully discussed the ability of FINMA-supervised, SEC-registered investment advisers located in Switzerland to provide their books and records, including personal data, directly to SEC staff; and the SEC’s ability to conduct on-site visits of these entities in Switzerland, consistent with the U.S. securities laws and Swiss law.
The SEC also announced that Natasha Vij Greiner, Director of the Division of Investment Management, will leave the agency on July 4.