Controlled self-regulation

The Swiss supervisory system for the parabanking sector is based on legally and officially controlled self-regulation. Here, the concept of the Federal Act on Combating Money Laundering (AMLA) and Prevention of the Financing of Terrorism makes provision for financial intermediaries in the so-called "alternative" financial sector (or parabanking sector) to create organisations that set forth, in concrete terms for their specific sector, details of how to implement duties and responsibilities pursuant to the Anti-Money Laundering Act, to monitor compliance by their members and to impose sanctions and measures in the event of infringements.

Against this background, the VQF exercises legally prescribed regulatory functions over its members.