SRO-affiliated financial intermediary in Switzerland

About This Company

A self-regulatory organisation evaluates both initial membership filings and subsequent ownership adjustments for Swiss crypto intermediaries. Submitting a de novo application entails an undefined statutory processing duration, as bodies such as VQF publish no binding deadline. File completeness and how quickly the admission fee is provided govern processing duration according to VQF guidance. PolyReg charges CHF 1,600 for a standard member or CHF 1,200 for an inactive member, whereas secondary reports cite around CHF 2,000 for VQF. VASP applicants must also undergo a mandatory in-person pre-admission audit at additional hourly cost because of crypto's elevated risk classification. No postponement of that audit is granted.

Acquiring an established company substitutes de novo admission with an ownership notification and clearance pathway. Under Article 6 paragraph 2 of SRO regulations, purchasers must provide prior written notice and secure approval for qualified holdings. Qualifying participations mean directly or indirectly holding at least 10% of capital or voting rights, or otherwise exerting significant influence. Statutory reporting thresholds also apply at 10%, 20%, 33%, or 50% under wider federal financial laws. Vetting focuses on managerial reputation alongside the operational capacity of internal anti-money laundering arrangements. Direct FINMA involvement only arises if the target company separately possesses a banking or securities firm licence.