For any financial services company, compliance is of uttermost importance. While many concepts can be tested in the laboratory, none can be tested on the open market without considering compliance. Any business needs to comply or it will likely cease to exist at some point.
Centi aims to act as a financial intermediary in a manner which is not per-se an activity to be licensed by the Swiss Financial Market Supervisory Authority (FINMA). Non the less, some of these activities are subject to oversight through a Self Regulatory Organisation (SRO) regarding the Anti-Money Laundering Act (AMLA). Switzerland has a system to let these SROs freely compete. There are currently eleven of these in existence and all of them are subject to direct FINMA oversight regarding their policies, practices, member trainings and member audits.
Today we are proud to announce that as of August 2020 we have received membership status in the SRO Financial Services Standards Association (VQF). Applicants go through several steps of checks before being admitted membership but most importantly, the membership in the VQF confirms that our legal understanding of the business we want to conduct is aligned with the view of some of the top compliance professionals in the country. We would like to thank the supervisory commission of the VQF and are looking forward to collaborate with the VQF while we strive for excellence in our compliance policies and practices.
