Because of their special duties as trustees, asset manager and funds are subject to strict regulations. In addition to the statutory requirements, a code of conduct jointly developed by the BVI and its members, the Code of Conduct, has applied to the fund industry since 2003. The principle of 'comply or explain' applies to these standards: asset manager apply them voluntarily, but must inform their investors whether and to what extent they comply with the conduct of business rules. If they deviate from the standards, they must disclose and justify this.
Rules of conduct (available in German only)