Activ membership under state supervision
The following criteria must be met to become an active member under state supervision of the SAAM .
Legal persons and private companies can be admitted as active members under state supervision, who operate independent asset management as their primary activity on the basis of:
- a license from the Swiss Financial Market Supervisory Authority (FINMA) as a securities broker in terms of the Swiss Federal Act on Stock Exchanges and Securities Trading.
- a permit from the Swiss Financial Market Supervisory Authority (FINMA) to practice as a financial intermediary.
- an authorisation form the Swiss Financial Market Supervisory Authority (FINMA) as Asset manager of collective investment schemes.
Admission to the Association is not possible if the asset management is operated within the framework of a banking license.
Active members under state supervision needs to fulfil the admission criteria for active members as well as to accept and comply with the Code of Conduct and Professional Ethics to practice independent asset management insofar as this does not run contrary to applicable legislation and ordinances or FINMA supervisory requirements.
Advantages of an active membership under state supervision
With their membership, active members under state supervision are joining the leading national trade association of Swiss independent asset managers. By doing so, they profit from all the services offered by the SAAM. These include:
- Members are kept up to date with current challenges of national or international significance through the SAAM. The SAAM does not just keep its eye on the combating of money laundering, but on the entire asset management field. Where necessary, the SAAM supports its members in overcoming and adapting to new circumstances and offers assistance in case of problems.
- The SAAM maintains an intensive dialogue with public authorities and other major players in the Swiss financial centre to best represent the interests of the industry of independent asset managers. In particular, the SAAM participates in legislative procedures and hearings, thus actively contributing to the lawmaking process.
- Members profit from advisement services offered by the SRO and the SAAM, with its various bodies to provide dedicated support to members in the area of compliance.
- Members are permitted to use the collective trade mark, "Member of the Swiss Association of Asset Managers (SAAM)", which is considered a seal of quality in the financial centre.
- Members receive special conditions for SAAM educational and training events.
- Members are invited to all Association and information events, such as the Breakfast Meetings.
- Members profit from special conditions which the SAAM has negotiated for its members for professional liability insurance, corporate liability insurance, motor vehicle insurance, property and personal liability insurance.
- Members receive a free subscription to the trade journal for independent asset administration, "denaris", and are given preferential treatment for the placement of articles concerning the profession.
Costs & fees
One-time processing fee CHF 1 000.- (not including VAT)
One-time admission fee CHF 1 500.- (not including VAT)
Annual membership fee CHF 3 300.- (not including VAT)
The annual membership fee for active membership is set annually for the following year by the Members' Meeting. If a member is admitted to the Association in the second half of the year, then only half the annual membership fee must be paid.
Sign up for an active
membership under state supervisiont
Become an active member of the SAAM. Please send your membership application, including the required annexes to the regional office in your area.
Dokuments concerning applicant
- Extract from the commercial registry (original or notarized copy)
- Most recent audit report
- Affirmation of independant asset management
- Description of business activities
- Audited financial statements of the past 2 years and (if required by law) consolidated financial statements of the past 2 years
- Undertaking by the auditor regarding the inclusion, if application is accepted, of compliance with the applicable provisions of the Code of Ethics and professional Conduct of Independent Asseet Managers in the scope of audits (for DSFIs only)
Documents concerning the persons in charge (for DSFIs only) | (Executive board and board of director's members, those in charge of the prevention of money laundering and his/her representative)
- Curriculum Vitae, dated and signed
- Copies of work references, certificates and diplomas (simple copies)
After the SAAM has received the complete membership application, including all required annexes, it will be provided to Board for their decision. There exists no entitlement to admission to the Association.