Legal Information Regarding the Bank

FINMA

Sallfort Privatbank AG is supervised by FINMA (Swiss Financial Market Supervisory Authority). For more information click here.

Depositor Protection

For up-to-date information on depositor protection visit the FINMA website.

Board of Directors

The Board of Directors, as the body responsible for overall direction, supervision and oversight, is responsible for the standard-setting and business-policy function of the Bank and meets quarterly.

The organization of the Board of Directors is regulated in the Organizational Regulations of 31 July 2012. The Board of Directors is responsible for the top management of Sallfort Privatbank AG. It consists of three or more members. The full Board of Directors is independent and meets as often as business requires, but at least four times a year. In principle, it is quorate if the majority of its members are present. The Board of Directors passes its resolutions by a majority of the votes of the members present. Members of the Executive Board are represented in an advisory capacity at the meetings of the Board of Directors. The Chairman of the Board of Directors chairs the Board meetings, chairs the entire Board and represents the Board of Directors internally and externally. There is a regular exchange between the Chairman of the Board of Directors and the CEO.

The recording, management, limitation and control of risks are comprehensively regulated by the Board of Directors. In the implementation of the risk policy, the management is responsible for the risk control. All quantifiable risks are hedged by means of appropriate capital backing. For other risks, organizational, personnel and infrastructural measures have been implemented. A meaningful Management Information System (MIS) informs the Board of Directors and the Executive Board regularly or periodically. Committees according to para. 31 of FINMA Circular 2017/1 were not formed.

AEOI – Automatic Exchange of Information

The members of the OECD as well as other financial centers have decided to introduce an automatic exchange of information to prevent international tax evasion. This exchange, abbreviated to AEOI, requires Swiss financial institutions to identify reportable accounts as from 1 January 2017 and to report them to the relevant tax authorities. You will find a list of states participating in the AEOI here.

FATCA – Foreign Account Tax Compliance Act (USA)

Sallfort Privatbank AG has registered as reporting financial institution (PFFI) under the GIIN 0KD5IE.00000.LE.756 at the IRS.

LEI – Legal Entity Identifier

The LEI is a unique and globally valid identifier of legal entities that are involved in financial transactions. Sallfort Privatbank AG is registered with the number 549300PEC6TMQBL85544.

VAT

Sallfort Privatbank AG’s VAT number is CHE-465.598.013.