SEC to Resume Processing of Registration Applications From Swiss-Based Investment Advisers

The Securities and Exchange Commission announced today that it will immediately resume processing new and pending registration applications of investment advisers with their principal office and place of business in Switzerland. This announcement follows successful discussions between staff from the SEC and the Swiss Financial Market Supervisory Authority (FINMA) regarding (1) the ability of FINMA-supervised, SEC-registered investment advisers located in Switzerland to provide their books and records, including personal data, directly to SEC staff, and (2) the SEC’s ability to conduct on-site visits of these entities in Switzerland, consistent with the U.S. securities laws and Swiss law. “I am very pleased to announce that the SEC stands ready to provide prompt consideration of the registration applications from Swiss investment advisers. These applications have languished for too many years, and it is well past time that we resume this process,” said SEC Chairman Paul S.