Paper: St. Galler Schriften zum Finanzmarktrecht, Band 12

Collective Investment Schemes in Distress

St. Galler Schriften zum Finanzmarktrecht, Band 12

This thesis is concerned with collective investment schemes in distress. It starts by giving an overview of the Swiss Collective Investment Schemes Act (CISA) and the collective investment schemes which can be set up in Switzerland since the CISA came into force in 2007 as well as the players involved in said collective investment schemes. These include the managing bodies of these collective investment schemes, the custodian bank, the regulatory auditor as well as the statutory auditor, the distributors of shares in collective investment schemes and the investor. This is followed by a study of the distress situations in which the abovementioned collective investment schemes may find themselves. This is done in order to identify the links between the economic phenomenon of the crisis and the legal terminology which applies to this phenomenon. Finally, on this basis the thesis covers three subjects: - Which duties to act are assigned to the respective players in the distress situation and how do they work together? - What kind of measures can a collective investment scheme implement in order to overcome the distress situation and what are the requirements for said measures? What is the prospect of success? - What are the requirements for the liability of the involved players? The thesis is available under