Switzerland has signed a bilateral cooperation agreement with the supervisory authorities on the financial markets of 28 EU member states, of which, however, Italy is currently missing, as confirmed by a spokesman for FINMA (Switzerland's Swiss financial market supervisory authority): "We are in contact with the Italian authorities and we hope that we can sign soon". The other state that has not yet ratified the agreement, in addition to Italy, is Slovenia.
The agreements in question will enter into force on 22 July this year and are one of the conditions required to be able to delegate the administration of European alternative investment funds to Swiss asset managers and the distribution of alternative investment funds in EU members.
The agreement between Switzerland and the EU countries was negotiated by the European Supervisory Authority ESMA on behalf of the national authorities.
