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LPCC stands for Loi fédérale sur les placements collectifs de capitaux, or Collective Investment Schemes Act. This piece of Swiss legislation aims to protect investors and to ensure transparency and the proper functioning of the market for collective investment schemes.

The Act governs the following, irrespective of their legal status:

  • Swiss collective investment schemes and persons who are responsible for the management and distribution of such schemes, and the safekeeping of assets held in them;
  • the distribution of foreign or Swiss collective investment schemes in or from Switzerland;
  • people who manage Swiss or foreign collective investment schemes;
  • people who distribute foreign collective investment schemes which are exclusively reserved for qualified investors;
  • people who represent foreign collective investment schemes in Switzerland.
    (From the website of the Swiss Federal Council.)
     
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