Swiss deriv proposals to hit pension funds

Zurich
By Rob McGlinchey
03 Apr 2014

The absence of an exemption for pension funds in Switzerland’s derivatives regulatory proposals within its draft Financial Market Infrastructure Act will drive up costs and staffing pressures for such users, according to lawyers.

Under the draft, pension funds are classified as financial counterparties and are therefore subject to the regulation. Such funds are also already subject to the country’s Federal Act on Occupational Benefit Plans and the Federal Ordinance on Occupational Benefit Plans, which restricts what assets pensions can purchase derivatives ...

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