Private placement regulations in Switzerland

Introduction Switzerland is not a Member State of the EU and is thus not subject to the AIFMD and the respective rules. Switzerland has its own rules: (1) the Financial Services Act (“FinSA”, Finanzdienstleistungsgesetz); (2) the corresponding ordinance (“FinSO”, Finanzdienstleistungsverordnung); (3) the Collective Investment Scheme Act (“CISA”, Kollektivanlagegesetz); (4) the…