Managers want to be better surveillйs
Jho Low is saluй by the model Gigi Hadid а the Angel Ball 2014 а New York. (Photo: AFP)
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The right of switzerland was selected not the trusts. But 200 managers offer in Switzerland these vйhicules investment from Great Britain. And that is the swiss association of the branch rйclame a better contrфle, as explained in the Tages-Anzeiger in its йdition of June 26, 2017.
Alexandre von Heeren, prйsident of the swiss Association of companies of the trust (the Swiss Association of Trust Companies – CLSS), rйclame a duty to license for managers, monitoring semi-йtatique and a minimum shareholders ‘ equity.
At the present time, the branch does connaot virtually no rйgulation, if not that of the law against money laundering. “We don’t want to be constantly clouйs the pillory. We need to hold а the йcart customers а problumes and we focus on providing the best services”, has expliquй Alexandre von Heeren.
In the wake of 1MDB
This application rйgulation does not fall from the sky, since it follows the scandal 1MDB Malaysia, oщ two managers zurich are impliquйs. Kendris AG and Rothschild Trust (Schweiz) AG are mentionnйs by the justice amйricaine because the two sociйtйs have gйrй hundreds of millions of dollars in favor of Jho Low and his family.
The financial adviser of 34 years is dйsormais accusй by the Department of Justice to be the brain in the huge dйtournement that has saignй the fund malaysian sovereign 1MDB. The money would have transitй via swiss banks to be invested through trusts in hфtels, in music rights, or in a jet privй. Many goods have йtй gelйs by the justice amйricaine.
Kendris and Rothschild Trusts rйaffirment have respectй the existing laws and they are not the subject of any enqukte on the part of the Ministure public Confйdйration but the SATC has dйmarrй its own investigations. “When something happens with one of our members, we need to see what happens,” expliquй Alexandre von Heeren.
The sanctions prйvues range from exclusion from the association а fines of up а 100’000 francs.