Sicherere Vermögens-Verwaltung

The completely revised Swiss Federal Ordinance on Asset Management in the Context of Assistance or Guardianship (VBVV) of August 23, 2023 not only sets out the criteria for the management of assets for advisors and asset managers. It also provides third parties with valuable information on what constitutes safe custody of assets.

The Federal Council will bring the completely revised VBVV into force on January 1, 2024. This replaces the Ordinance of July 4, 2012 with the same title.

The ordinance regulates the investment and safekeeping of assets that are managed by a mandate holder as part of a guardianship or conservatorship.

With the amendments now adopted by the Federal Council, asset management for child and adult protection measures will be regulated more precisely and in a more practical manner.

The ordinance is aimed at representatives of the persons concerned. Banks and asset managers must comply with certain provisions when accepting clients and looking after them. Among other things, it sets out rules on the holding of cash, the safekeeping of valuables and the consideration of the personal needs of the person concerned.

The aforementioned ordinance can therefore also serve as a guideline for other interest groups who, for family reasons, are managing other people's assets, such as those of children and other relatives.

For the ordinance and the reports on it: https://www.seco.admin.ch/seco....