Individuals or entities engaging in the following professional activities must obtain SRO membership:
- Carrying out credit transactions (consumer loans, mortgages, factoring, commercial financing, or financial leasing)
- Providing payment transaction services (electronic transfers, issuing/managing credit cards or travelers' cheques)
- Trading in banknotes, coins, money market instruments, foreign exchange, precious metals, commodities, securities, and derivatives
- Managing assets
- Offering investment advice
- Holding or administering securities
"Professional" criteria are specified in the Anti-Money Laundering Ordinance. If you meet the thresholds, you must apply for SRO membership or FINMA authorization within two months.
SRO membership requires financial intermediaries to fulfill specific duties and pay an annual membership fee. Members are also subject to audits.
Please let us know if you need any further clarification.