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Forchstrasse 2
8008 Zürich
Switzerland

info@weiss-group.ch
044 380 70 00

Supplementary Terms and Conditions Financial Services

1.0.0104; Issue February 2022

  1. Subject

  2. These Supplementary Terms and Conditions (“Terms”, “STC”) govern the business relationship between Weiss Group LLC (SARL) (“Weiss Group”) and the clients of the Financial Services division, subject to any other special agreements and the established rules of financial intermediary practice.
  3. These Terms supplement the General Terms and Conditions (“GTC”) of Weiss Group or take precedence in case of contradictory provisions. The GTC form an integral part of these Terms.

  4. Remuneration

  5. These provisions supplement the terms of payment of Weiss Group or take precedence in case of contradictory provisions.
  6. Weiss Group charges fees and ancillary costs for services agreed upon or rendered in the interest of the client in descending order:
    1. Individually agreed fee;
    2. Time fee;
    3. Fixed fee;
    4. Performance fee;
    5. Compensation by third parties.
  7. The client understands and accepts that Weiss Group receives or could receive compensation (e.g. commissions, brokerage fees, etc.) from third parties, in particular from insurance companies and banks, within the scope of its activity as a broker or on the occasion of the execution of orders. These compensations may have to be passed on to the client in accordance with the current jurisdiction or the applicable legal provisions.
  8. If it is agreed that the service is to be compensated in whole or in part by third parties, the following shall apply:
    1. The client expressly agrees that Weiss Group is compensated by third parties for its activities for the client and waives the claim to this remuneration.
    2. The client expressly agrees not to assert the claim to this remuneration retroactively if he subsequently requests a different type of remuneration.
    3. Weiss Group informs the client about the approximate compensation rates of the insurance companies to ensure transparency.

  9. Collaboration

  10. The conditions of collaboration and the duties to cooperate are specified in the Additional Terms and Conditions of the respective service and in individual contracts.
  11. The types of collaborations are as follows:
    1. Mandate based;
    2. Contract based;
    3. Mixed.

  12. Client segmentation

  13. Weiss Group is required under the Federal Act on Financial Services (Financial Services Act, FinSA) to assign the persons for whom it provides financial services to one of the following segments:
    1. retail clients;
    2. professional clients;
    3. institutional clients.
  14. Pursuant to the Federal Act on Financial Services (Financial Services Act, FinSA, Art. 4 para. 3), professional clients are:
    1. financial intermediaries as defined in the Banking Act of 8 November 1934 (BankA), the Financial Institutions Act of 15 June 2018 (FinIA) and the CISA;
    2. insurance companies as defined in the ISA;
    3. foreign clients subject to prudential supervision as the persons listed under a and b above;
    4. central banks;
    5. public entities with professional treasury operations;
    6. occupational pension schemes with professional treasury operations and other occupational pension institutions providing professional treasury operations;
    7. companies with professional treasury operations;
    8. large companies;
    9. private investment structures with professional treasury operations created for high-net-worth retail clients.
  15. Institutional clients are professional clients as defined in letters a-d, as well as national and supranational public-law entities with professional treasury operations.
  16. According to FinSA (Art. 5 para. 1), high-net-worth retail clients and private investment structures created for them may declare that they wish to be treated as professional clients (opting out).
  17. According to FinSA (Art. 5 para. 2), any person who can credibly declare that they satisfy the criteria under a and b below will be deemed high-net-worth:
    1. on the basis of training, education and professional experience or on the basis of comparable experience in the financial sector, they possess the necessary knowledge to understand the risks associated with the investments and have at their disposal assets of at least 500 000 Swiss francs; or
    2. they have at their disposal assets of at least 2 million Swiss francs.

  18. Errors in transmission and system failures

  19. Weiss Group is obligated to exercise the standard of due care customary in the business in handling incoming and outgoing orders, instructions and notifications via mail, fax, telephone, email, Internet, and all other means of transmission and transport.
  20. In the event that this duty is breached by Weiss Group, its employees or auxiliary persons, Weiss Group will be liable for any resulting damage.
  21. Where no breach of duty has occurred, the client is liable for any damage resulting from the transmission of orders, instructions and notifications via mail, fax, telephone, email, Internet, and all other means of transmission and transport, such as from loss, delay, misunderstandings, mutilation, or the repetitions, or due to unlawful interferences or other malfunctions, overloads, and interruptions in remote communication channels and systems, regardless of the cause.

  22. Data protection

  23. Weiss Group is obliged by law to treat data related to its business relationship with the client (“Client data”) as confidential.
  24. The client authorizes Weiss Group to disclose Client data to Group entities within Switzerland for business purposes. This applies in particular for the benefit of holistic and efficient client service delivery as well as information on the product offering across Group entities. The client releases Weiss Group to this extent from its duty of confidentiality and data protection. Weiss Group will make sure that recipients of Client data are bound by applicable confidentiality and data protection obligations.
  25. The client agrees that Weiss Group is entitled to disclose Client data in order to comply with legal or regulatory obligations as well as to safeguard legitimate interests.
  26. The Weiss Group Privacy Policy contains detailed information on how Weiss Group processes personal data.

  27. Transactions and services requiring disclosure of data

  28. In the context of services Weiss Group performs for the client, in particular if they have a foreign connection, Weiss Group may be required by applicable laws, self-regulations, market practices and conditions of issuers, providers and other parties it depends on for the performance of such transactions and services, to disclose data related to service, the client and related persons (e.g. beneficial owner). The client permits Weiss Group to do so, also on behalf of affected third parties, and shall support Weiss Group in complying with such requirements.
  29. The client understands and accepts that the recipients of the data may not be bound by Swiss data protection laws and that their use of the data is not controlled by Weiss Group.
  30. Weiss Group shall not be required to perform such services if the client withdraws or refuses to give its consent.

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info@weiss-group.ch