The regulations on the distribution of funds in Switzerland have changed. Fund providers need to assess their existing or planned distribution activities in Switzerland, and decide if they need to appoint a Swiss representative and a Swiss paying agent.

In this article we briefly summarize the requirement for a Swiss representative and a paying agent and terms that apply to the requirement. We then explain the respective roles the representative and paying agent.

Lars Schlichting - Partner, KPMG, Lugano
Siro Zanovello - Senior Partner, OpenFunds Investment Services, Lugano
Wolfgang Landl - Senior Partner, OpenFunds Investment Services, Zurich