Financial market regulation

VQF

WINBRIDGE AG is a SRO-member VQF (Registration number 12 947) – «SRO-VQF – an officially recognized self-regulatory organization (SRO) according to the Anti-Money-Laundering Act (AMLA)”.

SRO

The Swiss system of stock exchange and market supervision is based on the principle of self-regulation. FINMA is in charge of the overall supervision of the stock exchanges and markets.

As an independent supervisory authority, FINMA protects clients on financial markets, including creditors, investors and insurance policy holders. In this way, it strengthens confidence in Switzerland as an integral and competitive financial centre that functions well.

In addition to direct supervision by FINMA, the prevention of money-laundering act (GwG) provides for the possibility of indirect supervision by a self-regulatory organisation (SRO) for certain financial intermediaries in the area of prevention of money laundering and the funding of terrorism.

The role of the SRO is to pass regulations that specify how financial intermediaries are to meet the obligations set out by the prevention of money-laundering act, and to monitor these institutions to ensure compliance. The SROs are in turn supervised by FINMA. It is therefore the duty of FINMA to recognise an SRO or to withdraw its recognition, to enact the regulations laid down by an SRO, and to ensure that SROs enforce this legislation.

FINMA may conduct on-site inspections of SROs or enlist a designated statutory auditor to carry out an inspection. Within the framework of its third country evaluation, the Financial Action Task Force on Money Laundering (FATF) concluded that the Swiss self-regulatory system is adequate in the field of combating money laundering and is comparable to the state regulatory system.

WINBRIDGE is not subject to the FINIG

An asset manager within the meaning of Art. 17 para. 1 FINIG is a person who, on the basis of a mandate, may professionally dispose of the assets of clients in the name and for the account of clients within the meaning of Art. 3 let. c items 1-4 FIDLEG. Due to the reference in Art. 17 para. 1 FINIG to Art. 3 let. c items 1-4 FIDLEG, assets under Art. 17 para. 1 FINIG are limited to financial instruments under the FIDLEG. According to Art. 3 let. a FIDLEG, financial instruments are equity and debt securities, units of collective investment schemes, structured products, derivatives, certain deposits and bonds. Art. 3 para. 1 of the Financial Services Ordinance (FIDLEV; SR 950.11) explicitly excludes claims arising from an account or deposit contract for payment or physical delivery, namely of foreign currencies, time deposits or precious metals, from the term financial instruments. According to the explanatory report on the Financial Services Ordinance (FIDLEV), the Financial Institutions Ordinance (FINIV) and the Supervision Organisations Ordinance (AOV) of 6 November 2019, the management of client assets from foreign currencies, fixed-term deposits or precious metals held in custody accounts or on accounts is not considered asset management if the client is entitled to payment or physical delivery (p. 19). In the present case, WINBRIDGE AG is only active in foreign exchange trading. It does not use foreign exchange derivatives or structured products. The clients have the right to have the entire capital or a part of it paid out to them at any time. Thus, WINBRIDGE AG does not offer any financial instruments in the sense of Art. 3 let. a FIDLEG. Accordingly, WINBRIDGE AG is not subject to the FINIG.

DEPOSIT INSURANCE

The deposit insurance covers amounts of up to CHF 100,000 and is set out in Swiss banking law. If necessary, it is possible to provide higher levels of deposit insurance according to requirements. WINBRIDGE AG is thus able to ensure the best protection of the invested capital.

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