SAAM self-regulation

The Swiss Association of Asset Managers (SAAM) has established the aim of preserving and increasing the reputation of the profession of Swiss independent asset managers domestically and abroad. In addition, the SAAM strives to make an effective contribution to the protection of investors and the combating of money laundering.

As a self-regulating body, the SAAM is required not only to enforce its self-established rules among its members and to periodically monitor adherence to them, but also to function as a partner to governmental supervisory bodies in the enforcement of statutory provisions.

The SAAM's autoregulation consists of the Swiss Code of Ethics and Professional Conduct for the practicing of independent asset management, the SAAM regulation on the Prevention and combat of Money Laundering and Terrorist Financing and the SAAM disciplinary regulation.

The Code of Ethics and Professional Conduct contains professional, ethical rules, the adherence to which should provide a safeguard for a serious, flawless asset management. The regulation on the Prevention of Money Laundering and Terrorist Financing substantiates the obligations of the association members in regard to the Federal Act on the Prevention of Money Laundering.

In this regard, the SAAM goes beyond the establishment of rules and has an effective system of controls and sanctions to guarantee that its members also adhere to the established rules. Infractions of the SAAM Code of Ethics and Professional Conduct can be penalized with conventional fines ranging up to CHF 500,000.

As a self-regulatory body (SRO) in terms of the Anti-Money Laundering Act, the SAAM has the official approval of the Swiss Financial Market Supervisory Authority (FINMA) for the combating of money laundering.