The Swiss Financial Market Supervisory Authority (FINMA) today provided an overview of the numbers of received and approved applications from portfolio managers and trustees as at the end of 2022.
By the end of 2022, and thus at the end of the three-year transitional period, FINMA had received a total of 1,699 licence applications. As at 31 December 2022, FINMA had granted licences to 670 institutions (642 portfolio managers, 22 trustees and six institutions acting as portfolio managers and trustees). A total of 1,060 institutions have notified FINMA that they will not be submitting an application.
These figures show that FINMA received a very large number of licence applications towards the end of the transitional period, as expected. As at 31 December, there were…
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