The Swiss regulator is pointing at recurring supervisory failures involving actively managed certificates, conflicts of interest and suitability assessments following a sharp rise in escalation cases.
Switzerland's financial regulator has warned portfolio managers over the use of structured products in discretionary mandates after identifying recurring supervisory failures involving complex investment products, including actively managed certificates (AMCs). In guidance published on 3 June, the Swiss Financial Market Supervisory Authority (Finma) said a growing number of escalation cases involving portfolio managers had revealed deficiencies in the way certain products were selected, assesse