Switzerland is in the process of adopting a new regime to regulate the financial services industry and its various participants. Two key pieces of Swiss legislation that are undergoing the legislative process will affect Swiss-based financial service provider operations and how financial service providers located outside Switzerland provide services to Swiss clients. Non-Swiss private fund managers will be most interested in the revised approach proposed to Switzerland’s distribution rules, which impact how a fund may be marketed to Swiss investors. To help provide clarity surrounding the Swiss regulatory environment and the expected impact of this new legislation on the private funds industry, the Hedge Fund Law Report interviewed Dr. Vaïk Müller, an attorney-at-law based in Geneva. Müller’s views are particularly relevant to private fund managers that previously prepared their funds for distribution into Switzerland – with the appointment of a Swiss representative and a Swiss paying agent – as the legislation may reduce their regulatory burden in the future. The new legislation is also relevant for private fund managers that are not currently set up to distribute their funds to Swiss-based investors, as the regulations may, to a certain extent, facilitate their ability to market into Switzerland. For additional insight from Müller, see “New Swiss Regulations Require Appointment of Local Agents and Increased Disclosure in Hedge Fund Documents” (May 14, 2015). For coverage of additional Swiss regulations, see “What U.S. and Other Non-Swiss Portfolio Managers Need to Know About Managing Assets of Swiss Occupational Benefit Plans” (Sep. 22, 2016).