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Regulations Governing the Swiss Financial Marketplace

Buy gold bullion bars or coins online-safe storage in Switzerland

To Whom It May Concern

The Swiss banking and the financial Swiss market place as a whole are highly regulated. It is equally important to note that there are many cultural and legal differences that one should recognize and be familiar with: regulation in Switzerland affects the banking and financial services industry in this country quite differently from that in the United States or the rest of Europe for instance.

The financial markets in Switzerland are long established and well regarded. Geneva, Zurich, Lugano along with New York, London, Tokyo and Singapore, are important financial money centers.

Swiss Regulations

The Swiss regulatory system, which forms the base of the Swiss financial market place, adheres closely to European norms. In recent years, in order to maintain the reputation and integrity of the Swiss financial system, the Swiss regulatory authorities have further tightened controls, particularly in the area of money laundering.

Swiss Regulatory Authorities - Who and What is regulated

The Swiss Federal Banking Commission (SFBC) supervises in large parts institutions in the following categories: banks and securities dealers, Raiffeisen banks, representative offices of foreign banks and securities dealers, recognized auditing firms, Swiss investment funds, foreign investment funds which can be distributed in Switzerland, authorized fund managements, agents of foreign investment funds and distributors of investment funds.

Under the Swiss Anti-Money Laundering Act, which entered into force in April 1998, all financial intermediaries must either be affiliated with a recognized self-regulatory organization like Polyreg (SRO) or be supervised directly by a panel for the Prevention of Money Laundering (the Control Panel). Their activity is constantly monitored by the SFBC.

Financial intermediaries are governed by the standards of Polyreg (SRO, similar to the NFA in the United States). Additionally, they must meet all regional and state and federal requirements. Highest professional qualifications, solid character references and immaculate background checks on the individuals are required in order to obtain approval prior to exercising an activity in the financial markets. Federal laws are enforced by the Swiss Federal Banking Commission SFBC for short. Apart from this, highest accounting standards with regular auditing through federally licensed and recognized major auditing firms form the backbone to insure the integrity of the Swiss financial services market place.

For these reasons, Swiss banks and Investment Managers are extremely cautious before they engage into a banking or business relationship with new clients. 'Know your client' principles (due diligence) and observance of anti money-laundering laws - are just a few of the very strict criterions they have to adhere to.

There are lots of benefits that the Swiss system offers: Customers included, it keeps all players on guard and equally responsible for their actions, which, we feel, none of us would want it any other way.

We hope that this information is useful to you. Call us or write to us if you have questions or need further information.

Wishing you a pleasant day and success, we remain

Lugano, Switzerland

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