ATAG Swiss Trustees Ltd. receives sought-after trustee certification from FINMA

ATAG Swiss Trustees Ltd. sets course for a successful future: the company has received its professional trustee authorisation from the Swiss Financial Market Supervisory Authority FINMA, in line with the Federal Act on Financial Institutions (FinIA). ATAG Swiss Trustees is one of the very first firms to receive a licence and now numbers among the initial 5% or so of trustees in Switzerland to receive this sought-after certification.

BASEL, Switzerland, Nov. 10, 2022 /PRNewswire/ -- Trustees who took up their activities prior to 1 January 2020 now need to be authorised by the Swiss Financial Market Supervisory Authority FINMA by the end of 2022. ATAG Swiss Trustees Ltd, based in Basel and part of the ATAG Group, has successfully completed the highly challenging process of acquiring authorisation and has been granted FINMA certification. This puts ATAG Swiss Trustees among the first 5% or so of around 330 trustees in Switzerland to receive this sought-after certification under the Swiss Federal Act on Financial Institutions (FinIA).

'Establishing and looking after trusts has been part of the ATAG Group's portfolio of services ever since the company was founded in 1917. As one of Switzerland's first certified trustees, we are now continuing this tradition under the new law,' explains Dr Igor Rusek, member of the Board of Directors of ATAG Swiss Trustees Ltd. 'The entire licensing process was a real challenge for our team – we're absolutely thrilled to have reached our goal!'

'We're proud and delighted to be one of the "early birds" certified as a trustee by FINMA,' adds Gabrielle Perregaux, Managing Director of ATAG Swiss Trustees Ltd. 'The certification allows us to plan with an eye to the long term while continuing to offer our international clients all the services they desire. This is complemented by services from our ATAG Family Office and the support provided by the lawyers at our law firm, ATAG Attorneys, in particular.'

Various conditions need to be met in order for a company to be certified as a trustee, such as satisfactory risk management, internal checks, an appropriate amount of equity capital, and adequate collateral. The certification, which Swiss trustees will be required to have from 1 January 2023 onwards, guarantees that Swiss financial services are being rendered at the high level of quality expected.

About ATAG PCS Ltd and ATAG Swiss Trustees Ltd

ATAG Private & Corporate Services Ltd was founded in Basel in 1917 as ATAG Allgemeine Treuhand AG. The company formed part of Ernst & Young's international network from 1960 onwards before being passed into the ownership of its current partners in 2001. ATAG Attorneys Ltd, an internationally active law firm specialising in commercial and tax law, and ATAG Family Office were created under the ATAG brand in 2016 to meet clients' needs. ATAG Swiss Trustees Ltd, formerly Gérance Trust Ltd, was founded in 1945. It is now carrying out its services as a certified trustee under a new name – but its quality remains as high as ever. More information is available at www.atag-swisstrustees.ch.

Photo - https://mma.prnewswire.com/media/1941842/ATAG_Swiss_Trustees_Ltd_Gabriele_Perregaux.jpg
Logo - https://mma.prnewswire.com/media/1941843/ATAG_Swiss_Trustees_Ltd_Logo.jpg