Due Diligence

Due Diligence

Rosetrust is regulated

In common with all other financial intermediaries in Switzerland, Rosetrust AG is regulated under the Swiss Anti-Money Laundering Act. Rosetrust belongs to, and is audited by, the largest self-regulatory organisation (SRO) in Switzerland: the Financial Services Standards Association, VQF (Verein zur Qualitätssicherung von Finanzdienstleistungen), located in Zug.

We know our clients

Understanding our clients was always important to us, long before legislation required us to do so. Now money laundering legislation imposes on us a duty to obtain, keep on record, and regularly update basic information about our clients. This includes knowing the identity of the beneficial ownership of entities managed by us, the sources of funds used by our clients and/or managed entities, and the purposes for which the funds are used. Although there is a certain amount of form-filling at the beginning of any relationship, we will help you through the process.

We have an internal compliance officer who monitors compliance, and all key personnel within Rosetrust regularly attend training courses on due diligence matters.

You can rely on strict confidentiality

Our records are kept to the highest standards of confidentiality. They can only be accessed by our SRO, their agents, or another appointed controlling body as part of a compliance audit, or otherwise in accordance with Swiss law, and then only on the basis of being kept strictly confidential. Information will only be disclosed to the Swiss authorities as part of a legitimate criminal investigation.

Swiss law respects the confidentiality of clients and will only interfere in this in very serious circumstances. In general, fiduciaries/financial intermediaries commit a criminal offence if they disclose confidential information without cause. However, they are required to report to the Swiss authorities if clients and/or managed entities are participating in criminal activities (as defined under Swiss law). Subject to this, Rosetrust is committed to respecting and defending its clients’ rights to arrange and manage their affairs with the utmost confidentiality.

We assist managed entities to comply with the regulations

Entities managed by Rosetrust and operating in Switzerland, which are themselves considered under Swiss law to be financial intermediaries, must also register with an SRO. We will assist with SRO registration and with establishing and operating internal due diligence guidelines and procedures to ensure proper compliance.

When you disclose information to us in confidence, it remains confidential.