Swiss Regulatory Environment

Dukascopy Bank SA is a limited company based in Geneva, Switzerland with a share capital of CHF 22’000’000.

Swiss Forex Dealers have been newly submitted to the Swiss banking legislation (amended article 3a al. 3 let. c and new article 62a of the Swiss Banking Ordinance) and given a deadline to 31 March 2009 to officially request a banking license from the FINMA (Swiss Financial Market Supervisory Authority).

Pursuant to that change in legislation, Dukascopy has undertaken a number of organizational changes in order to successfully apply for a banking license and has appointed KPMG to perform the required examination of its compliance with the Swiss banking requirements. The changes, among other, include increase of the share capital in accordance with article 4 of the Swiss Banking Ordinance, which provides for a minimum share capital of CHF 10 million fully paid-up.

On 31 March 2009 Dukascopy has filed its application to the FINMA for the obtaining of a banking license, in compliance with the Swiss regulation.

Until the closing 2008 included, the Financial Statements of Dukascopy have been audited by SCF Révision SA which has been the Auditor of Dukascopy since inception. Due to the banking license application process, KPMG has been appointed as Statutory Auditor for the closing 2009 and followings.

KPMG will also act as Banking Auditor of Dukascopy as of the obtaining of the banking license. The latter is expected to occur in the course of 2010.

Dukascopy Bank SA is a member of ARIF.

ARIF is a self regulatory body recognized by the Federal Finance Administration to exercise supervision in the money laundering area with regards to financial intermediaries.

Actually, Dukascopy is a financial intermediary in the meaning of the Swiss Federal Law on money laundering. The compliance of Dukascopy with the Swiss regulations on money laundering has been verified so far, by our independent Auditor (SCF Révision SA) which reports its conclusions to ARIF.

In order to maintain the reputation and integrity of the Swiss financial industry, the Swiss regulatory system adheres to the strictest rules in matters of fight against money laundering.

2010 Banking License obtained
Dukascopy Bank SA becomes Dukascopy Bank SA