MWC Group, the trading name of Manentia AG is regulated in Switzerland by three regulators, namely FINMA, PolyReg and PolyAsset. Below is an overview of these regulatory bodies as well as links to our entries in their respective members registers as an ‘authorised institution’.
Swiss Financial Market Supervisory Authority FINMAwww.finma.ch
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 company. This facilitates our independent ability to identify and recommend the best products available in the market through direct terms of business with providers.
To be registered as an ‘insurance intermediary’ with FINMA requires high level recognized qualifications. Our consultants and also several administration staff have acquired these along with industry experience. In addition, FINMA require necessary company liability insurances to protect clients.
Persons or legal entities with legal domicile within Switzerland and acting as financial intermediaries have to be regulated by law. They may join one of the self-regulating bodies or apply for a permit to the Money Laundering Control Authority.
PolyReg is a self-regulatory body recognised by the Swiss Federal Money Laundering Control Authority. It is established according to Article 24 of the Swiss Money laundering act (MLA) and acts as regulatory and supervising Organisation for its members.
FINMA prescribes a set of professional rules that set the standards with which asset managers must comply in the performance of their duties. Asset Managers may uphold these professional guidelines through their membership to PolyAsset on a voluntary basis. With this, they are required to meet minimum standards with regards the terms of their asset management contracts and their fiduciary obligations towards investors. They are authorised to use Collective Investments and in recognition of their adherence to the FINMA and the PolyAsset standards, are entitled to use the PolyAsset logo of quality.
Through our membership with the IIS, a non-profit organisation, MWC contrubites to promoting high levels of professional qualification in the Swiss insurance industry through targeted training and education.
All our consultants have a long-standing membership with the CII. The CII is the world's largest professional body dedicated to insurance and financial services and it exists to promote higher standards of integrity, technical competence and business capability. With over 120,000 members in more than 150 countries, the CII membership covers all disciplines within the insurance industry (claims, broking, underwriting and sales), those working in the life and pensions sector, the mortgage advice market and financial advisers.