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Mandatory provisions

Active members of the SAAM must comply with the following regulations as independent asset managers:

 

Articles of Association

 | Under the Articles of Association all members are obliged to comply with the provisions of the Articles of Association and – if applicable to them – the Code of Ethics and Professional Conduct and the resolutions adopted and guidelines issued by the executive bodies of the association. Members agree not to apply to state courts and submit to the authority of the disciplinary committee (Art. 23 ff.) and the arbitration panel (Art. 27 f.).

 

Anti-Money Laundering

 | The AMLA forms the legal supervisory and legal preventative basis for the combating of money laundering. It imposes a due diligence obligation upon financial intermediaries in the practicing of their profession in order to most effectively prevent money laundering.

 

SAAM Anti-Money Laundering Regulations

 | The regulations on the prevention and combatting of money laundering and the financing of terrorism (SAAM Anti-Money Laundering Regulations) set out the obligations of the members of the association under the AMLA. These regulations apply to asset managers affiliated to the SAAM's self-regulating body.

 

Code of Ethics and Professional Conduct

 | The Code of Conduct for the Practicing of Independent Asset Management is a set of professional regulations, compliance with which is intended to ensure disciplined and professional asset management. The code includes among other things the obligation to protect client interests, create transparency and prevent abuses. It also contains provisions on independence in asset management, refines the legal provisions governing asset management mandates and sets a minimum standard for a written asset management contract. Moreover, it contains guidelines on confidentiality, on the prohibition of banned investment transactions and on dormant assets. This Code of Ethics and Professional Conduct is valid for members of the association under state supervision, provided that the legislation applicable to them or their supervisory authority do not lay down any obligations above and beyond those contained in the code of conduct.

 

Disciplinary Regulations

 | The SAAM Disciplinary Regulations are designed to monitor the Code of Ethics and Professional Conduct, the Anti-Money Laundering Act and the SAAM Anti-Money Laundering Regulations. They determine the frequency of audits, the recognition of auditors, and the auditing and reporting principles. They lay down appropriate sanctions for infringements of the Code of Ethics and Professional Conduct and the Anti-Money Laundering Regulations and detail the procedures that apply in such cases. They determine the procedure applying to the issue of directives to restore full compliance with the regulations. Active members with SRO affiliation are subject to the Disciplinary Regulations. For independent asset managers who are directly supervised by FINMA as financial intermediaries as defined by Art. 2 (3) AMLA, the above applies with respect to the Code of Ethics and Professional Conduct.