VQF Financial Services Standards Association

Rights & Duties

I. Summary in concerning to rights and duties


The basic membership rights and duties of a VQF SRO member arise from the following documents:

By-laws VQF Doc-No. 302.1
SRO regulations VQF Doc-No. 400.1.2
SRO audit concept VQF Doc-No. 700.3
SRO training concept VQF Doc-No. 610.1
Regulation on fees VQF Doc-No. 1101.5

 

You can also find all these documents and further information, forms, checklists and instructions in the VQF SRO member’s folder, which you will receive free of charge immediately on your admission as a SRO member. This additional information is also available in the protected members’ area of this website (see "Members" heading). You will also receive the associated password free of charge on admission.

 

 

II. Rights


Your VQF SRO membership entitles you to act as a financial intermediary in the parabanking sector (Art. 2 Para. 3 AMLA) in Switzerland.

Furthermore, your SRO-membership entitles you to make use of numerous VQF services. All VQF services to our SRO members have the following

goals

As a member you should be able to comply with the duties placed on you by the Anti-Money Laundering Act (AMLA) or the requirements of the market as

  • easily and efficiently
  • cost efficiently and
  • effectively

 

as possible. The actions taken by SRO-members provide protection against money laundering and the financing of terrorism and contribute to the protection of investors and the integrity of Switzerland as a financial centre.

As a VQF SRO member you benefit from a variety of services and other benefits, especially:

  • Tried and tested, easy-to-understand form templates, checklists and instructions.
  • Basic and advanced training seminars as well as individual (company-) training.
  • Expert one-on-one specialist consulting: free of charge in straightforward cases and at attractive rates in complex cases too.
  • Option to obtain the widest variety of audit services from one source.
  • Representation of your interests towards the Swiss authorities with regard to anti-money laundering law (e.g. in the Swiss parliamentary legislation process, consultation with Swiss authorities, etc.).

 

 

III. Duties


As a result of your VQF SRO membership, as a financial intermediary in the parabanking sector (Art. 2 Para. 3 AMLA), among other requirements you are obliged to comply with duties of due diligence and other duties pursuant to the AMLA and the VQF SRO rules and regulations (regulations, audit concept and training concept).

The VQF offers you a clear, transparent and – compared to competitors - attractive cost structure. See for yourself: Regulation on Fees.

 

 

Please note that only the German version is legally binding.


 

 

Please note that only the German version is legally binding.