The Fund Representation Solutions (FRS) arm of the REYL & Cie Asset Services business line has received a licence extension from FINMA to provide representation services for foreign collective investment schemes offered to non-qualified investors.
With the license from the Swiss Financial Market Supervisory Authority (FINMA), the REYL & Cie’s Fund Representation Solutions department will now expand its activities to represent foreign collective investment schemes marketed to non-qualified investors and subject to FINMA approval. The purpose of the representative is to represent these funds vis-à-vis investors and FINMA, and must be authorised to do so. They are subject to special reporting requirements.
With this authorisation, REYL & Cie is now one of just a few actors in the market able to offer, under one roof, combined representation and paying agent services for all foreign funds that target institutional, professional and private investors in Switzerland. In addition, the recent announcement of the strategic partnership between REYL & Cie and Fideuram - Intesa Sanpaolo Private Banking, that will enter into force in 2021, will make it possible to ensure investment, syndication and advisory services, as well as access to a vast distribution network.