Licensing and supervision at a glance
| Institution | Provision | Licence | Ongoing supervision |
|---|---|---|---|
| Portfolio manager, trustee | Art. 17 FinIA | FINMA | supervisory organisation (Art. 61 FinIA) |
| Manager of collective assets | Art. 24 FinIA | FINMA | FINMA |
Further core provisions: Art. 2 FinIA (financial institutions), Art. 5 FinIA (licensing requirement), Art. 9 FinIA (organisation). FINMA explains the procedure on its pages on portfolio managers and trustees and on supervisory organisations (in German).
What FinIA means for portfolio managers
- 1Choose a supervisory organisationportfolio managers under Art. 17 FinIA arrange affiliation with a supervisory organisation as the first step; the FINMA application builds on it.
- 2Build the organisationset up executive management, compliance and risk management appropriately – in-house or outsourced.
- 3Evidence fit and proper conductdocument the qualifications and good reputation of the persons responsible.
- 4Secure financial guaranteesevidence the funds required by law.
- ✓Comply on an ongoing basismeet the licensing conditions at all times, notify changes in advance and present a remediation plan promptly where needed.
How Peak Compliance supports you
- Licensing: structured support through the procedure with FINMA and the supervisory organisation, at a fixed price after a needs analysis – FINMA and FMA licensing, portfolio manager licence (Art. 17 FinIA), manager of collective assets licence (Art. 24 FinIA).
- Working with the supervisory organisations AOOS and OSFINcontrol; mandates with portfolio managers supervised by FINMA and the FMA.
- From day one: compliance and risk management function through compliance outsourcing.
- In practice: for example the 2026 supervisory review priorities. Conduct rules towards clients are covered in the FinSA hub.
Articles on FinIA and supervision
Fintech License Switzerland – How to get it
The Swiss Fintech licence is a regulatory framework designed to promote innovation within the financial sector.
FATCA Model Change: What Asset Managers and Managers of Collective Assets Need to Know
On 27 June 2024, Switzerland and the United States signed a new FATCA agreement.
MiCAR and Switzerland: When Swiss Financial Intermediaries Are Affected
MiCAR is an EU regulation and has been fully applicable since 30 December 2024. For issuers of ARTs and EMTs, it has applied since 30 June 2024.
When AI Delivers Investment Signals: Where Does Model Risk Begin in Portfolio Management?
AI increasingly generates investment signals. What this means for model risk, data quality, monitoring, explainability and governance in asset management.
FINcontrol Suisse and OSFIN Merge to Form the New Supervisory Organisation “Osfincontrol”
On 28 August 2025, it was announced that FINcontrol Suisse and OSFIN will merge to form the new supervisory organisation “Osfincontrol”.
FIDLEG Audit 2026: New Audit Focus Areas for Asset Managers under Art. 17 FinIA
FINMA Circular 2025/2 “Rules of Conduct under FinSA/FinSO” entered into force on 1 January 2025.
Planning a licence or preparing your organisation for supervision? Talk to us.
At a glance
- Act: Federal Act on Financial Institutions (FinIA, SR 954.1), with FinIO and FinIO-FINMA.
- Who: portfolio managers, trustees, managers of collective assets, fund management companies and securities firms.
- Core topics: licensing requirement, organisation and fit and proper conduct, ongoing supervision.
Frequently asked questions
Who needs a licence under FinIA?
The financial institutions listed in Art. 2 FinIA need a licence: portfolio managers and trustees (Art. 17), managers of collective assets (Art. 24), fund management companies and securities firms. FINMA grants the licence before the commercial activity starts. Peak Compliance guides portfolio managers and managers of collective assets through this procedure.
What does a supervisory organisation do?
Portfolio managers and trustees are supervised on an ongoing basis by a supervisory organisation under FINMASA (Art. 61 FinIA); FINMA authorises and supervises the supervisory organisations. FINMA currently lists AOOS, OSIF, OSFINcontrol and SO-FIT. Managers of collective assets are supervised directly by FINMA.
What does FINMA review in the licensing procedure?
FINMA reviews, among other things, a registered office in Switzerland, an appropriate organisation including compliance and risk management, sufficient financial guarantees and the fit and proper status and qualifications of the persons responsible. The details follow from FinIA, FinIO and FinIO-FINMA. Peak Compliance prepares the application and the organisation in a structured way.
What applies after the licence is granted?
The institution meets the licensing conditions on an ongoing basis and notifies planned changes to the facts underlying the licence in advance to the supervisory organisation; depending on the change, FINMA approves it. Peak Compliance takes over the compliance and risk management function from day one.
