The Swiss Association of Asset Managers has invited asset managers to take part in a survey to quantify the cost of regulation more accurately. This data will be used to support its lobbying efforts with the federal authorities in favour of regulation that is better suited to the size and resources of the firms concerned.
The Swiss Association of Asset Managers has launched a survey amongst asset managers to measure the actual costs of regulation. The results are intended to support its efforts in Bern to promote more proportionate supervision.
The ASG intends to campaign in Bern against regulatory duplication and to advocate for more effective, proportionate and risk-based supervision. In particular, it aims to provide the Federal Department of Finance’s working group with concrete data on the cost of regulation. This is a major issue for independent asset managers, the vast majority of whom are SMEs and are therefore often subject to a disproportionate administrative burden.
The survey covers regulatory costs over the past two years, whether relating to the supervisory authority, FINMA, compliance or legal matters. The ASG is asking participants to provide actual figures rather than estimates. In this way, it aims to present policymakers with the exact cost of regulation per million in assets under management and per client.
Aware of the sensitive nature of this data, the association guarantees the anonymity of responses. The questionnaire does not record names or IP addresses, and each participant identifies themselves using a six-character code which they create themselves. In the final report, the results will be grouped by category – for example, firms managing between 100 and 250 million in assets – so that no individual institution can be identified. Neither the assets under management nor the number of staff at participating firms will be published.
In return, participants will receive a benchmarking analysis. They simply need to look up their code in the report to see how their costs compare with those of other market players.
The survey is available at: LINK