Regulatory environment

With 35% of the world's private assets managed by financial institutions based in Switzerland, the country has a long established tradition as one of the world's largest financial centers and indeed the largest financial center in continental Europe. Banks and financial companies withholding customers' funds are obliged to adhere to the regulatory standards of the Swiss financial authorities and must follow precise due diligence procedures and trading practices. Furthermore, since the 1st of April 1998 laws against money laundering (LBA) Swiss regulatory authorities have considerably tightened financial controls of banks and financial intermediaries obliging these institutions to be affiliated with and supervised by a recognized self-regulatory organization. Members of this organization are selected according to strict criteria and have to respect a code of honor in conducting their business. Their activities are audited on a routine basis. Exto Financials does not hold client monies; it only collaborates with entities authorized under these regulations.