Final deadline to adapt asset management contracts to the FINMA Circular 2009/1 and the codes of conduct

On December 31, 2010 the last deadline for independent asset managers to adapt their management agreements to the FINMA Circular 2009/1 and the codes of conduct will expire. Indeed, in compliance with this Circular, some professional organizations have issued a code of conduct or reviewed their existing codes to be compatible with its provisions. Under most of the codes of conduct, starting from January 1st, 2011, independent asset managers will be monitored by their respective professional organization that will ensure that their contracts and their activities are compliant with the applicable code of conduct.