MWC Group is the trading name of Manentia Wealth Consulting Group AG, a Swiss company, and of its subsidiary Manentia Wealth Consulting Group Ltd, a Maltese company. The Swiss company is regulated in Switzerland by three regulatory bodies, namely FINMA, PolyReg, and OSFIN. Below is an overview of these regulatory bodies as well as links to our entries in their respective members registers as an authorised institution.
From January 2020 the Financial Services Act (FinSA) and the Financial Institutions Act (FinIA) comes into force and most of the rules will apply after the two year transition period from January 2022. MWC Group’s various business units are subject to these provisions. FinSA in essence contains regulations on the provision of financial services and the offer of financial instruments and is intended to improve investor protection. FinSA’a content is closely based on the MiFiD II reforms in the EU.
Further details of FinSA is available on the FINMA website.
FINMA is Switzerland’s independent financial-markets regulator. Its mandate is to supervise banks, insurance companies, exchanges, securities dealers, collective investment schemes, and their asset managers and fund management companies. It also regulates distributors and insurance intermediaries. It is charged with protecting creditors, investors, and policyholders. FINMA is responsible for ensuring that Switzerland’s financial markets function effectively.
As a registered ‘Insurance intermediary’ with FINMA, MWC Group can operate without being tied to any insurance company. This facilitates our independent ability to identify and recommend the best products available in the market through direct terms of business with providers.
Persons or legal entities with legal domicile within Switzerland and acting as financial intermediaries have legal obligations to prevent money laundering and terrorist financing.
MWC Group, as a financial institution, is affiliated to PolyReg. PolyReg is a self-regulatory organisation (SRO) and acts as regulatory and supervising organisation for its members regarding anti-money laundering matters.
In January 2020, new regulation came into force in Switzerland in the form of a comprehensive legal framework – Financial Services Act (FinSA) and the Financial Institutions Act (FinIA)- aimed at reinforcing client protection and promoting Switzerland’s competitiveness as a financial centre. It introduces a stringent set of rules for financial service providers providing their services in Switzerland or to Swiss based clients, with most of the obligations having phased-in timelines between 6 months and 2 years.
According to the new regulation, all portfolio managers, amongst other financial institution, must re-apply to FINMA and obtain their authorisation to continue their activities before the end of 2022; following authorisation, they will be supervised by a supervisory organisation, in MWC Group’s case this SO is OSFIN. MWC Group’s authorisation by FINMA is currently in progress and the company is authorised to continue its activities during the transition period ending 31st December 2022.
Further details of FinSA are available here
MWC Group is member of the following professional associations:
If you would like more information on the regulations applicable to the different MWC Group entities, please click on the following link(s):