2. Equivalency Woes
As MiFID II takes effect this week, Swiss fund houses are bracing for the financial regulation – which doesn't apply in Switzerland, as least not just yet.
Meanwhile, Switzerland's efforts to match the European regulation with its own legislation have been delayed: FinSA and FinIA (as the government refers to Fidleg and Finig in English) are meant to ease the way for Swiss providers into Europe, but won't enter into force before next summer.
Switzerland's much hoped-for equivalency path to Europe is teetering, especially as the bloc has used it as leverage against the alpine nation. The European Commission recently pinned the new laws to Swiss stock exchange operator SIX's application for its own equivalency as a third-country trading venue.
