New Swiss financial market legislation: initial experience in implementation

The new Swiss financial market legislation with its trinity of CISA, FinSA and FinIA has been in force since the start of 2020. Time for financial services professionals affected to have an initial exchange of knowledge and practical experiences: what has changed for investment advisers, asset managers, representatives and fund management companies? Where are the major challenges? What is bothering financial intermediaries the most right now, and who is wrestling with which issues? To what extent are foreign market participants also affected by the new legislation? And is there any good news to report already?