The recently introduced Swiss financial markets legislation provides that funds marketed in Switzerland may now elect to use English as an official language.
In order to change a fund's official language the following steps should be taken:
- A separate notification must be made to FINMA advising of the change.
- The most recent Swiss Prospectus filed with FINMA must be refiled in English, signed in original form on behalf of the fund, the Depositary and the Swiss Representative, together with a confirmation that such document is the English version of the most recent translated Swiss Prospectus filed with FINMA.
- A notice confirming the change of official language must be made on the recognised publication platform of the fund in Switzerland in the current official language of the fund.
- The most recent KIIDs (including Swiss disclosures) for all classes for sub-funds registered in Switzerland must be filed in English with FINMA.
- A confirmation will be required that the most recent constitutive documents and KIIDs have been filed with FINMA.
Swiss counsel will prepare the notifications noted under 1 and 3 above. In any particular case, FINMA may request further information or documentation as may be required.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.