By-laws and Purpose of the Association

The purpose, resources and organisation of the VQF are regulated in the by-laws of the Association in accordance with Art. 60 Para. 2 of the Swiss Civil Code (SCC).

Art. 2 of the current by-laws regulates the purpose of the Association as follows:

Art. 2 Purpose

1) The Association’s purpose is to assure the quality of financial services and to enforce a high level of business ethics on the basis of self responsibility.

2) The Association is active as a sector-wide self-regulatory organisation (hereinafter: "SRO") under the terms of Article 24 et seq. of the Federal Act on Combating Money Laundering and the Financing of Terrorism in the Financial Sector (hereinafter: AMLA) of 10 October 1997 and aims to control compliance with duties in accordance with the AMLA. To this end the Association exercises permanent control over the members of the SRO (hereinafter: "VQF SRO members") with regard to compliance with the provisions of the AMLA and the Association’s by-laws (hereinafter: "by-laws") and SRO regulations.

3) The Association can assume the function of an industry organisation and can issue, revise and implement rules and codes of professional conduct.