What is the OAR-G?

The Organisme d’Autorégulation des Gérants de patrimoine-OAR-G [Self-regulatory Organisation (SRO) of Private Asset Mangers] in Geneva is a non profit association registered with the Swiss Autorité fédérale de surveillance des marchés financiers- FINMA [Financial Market Supervisory Authority], to control and oversee compliance with the Swiss Anti Money Laundering Act [AMLA].

Money laundering is defined as the recycling in the official economy of the proceeds of criminal conduct: drug trafficking, prostitution, political corruption etc...

Investing in Switzerland any monies you have «forgotten» to declare to the tax authorities, however, is not considered as money laundering. For further information please visit the OAR-G website or the FINMA website.

What is the connection between Euporos and the OAR-G?

Article 2, line 3, figure c of the AMLA of 10 October 1997, stipulates that bullion dealers are considered as «Financial Intermediaries-FI». All professionals with activities that could be exposed to the AMLA have to be affiliated to an SRO or directly to the FINMA in Bern. Euporos SA has the status of an FI, and is, therefore, affiliated to the OAR-G.

As well as the usual legal obligations of account management, all FIs have the extra responsibility of verifying the identity of their clients and the origin of the funds they receive. This is why our clients must complete the AMLA form for transactions of CHF 25,000 or more: the form need not be completed for lesser amounts.

How does being affiliated to the OAR-G guarantee that Euporos is in compliance with the Swiss Anti Money Laundering Act?

Our Company Director has attended the initial AMLA training seminar organised by the OAR-G. Furthermore, each autumn he attends a continuous training course which is obligatory for all OAR-G members.

Each year an inspector is mandated by the OAR-G to control the company's compliance with AMLA. If Euporos SA is found not to be in compliance, a disciplinary procedure will be initiated against the company, which could lead the loss of the company's authorisation to operate in Switzerland. Being a member of the OAR-G is the equivalent of having a State business licence. In France, numerous companies offer the same services without having such a licence.

Does the control of Euporos SA's financial accounts offer further guarantees of reliability?

As well as the obligatory AMLA controls, Euporos SA voluntarily opens its accounts for a further audit. As a medium size Company the accounts are subject to a «contrôle restreint» or standard audit, which is made by Actis SA based in Sion in the Swiss Canton of the Vallais, an external auditing firm authorised by the Swiss Federal Audit Office. This means that all transactions recorded by the company are in conformity with Swiss accounting principles and the legislation presently in force.

Conclusion: irreproachable management controls

The way we manage the company is regularly controlled on two fronts:

-          firstly, as an «FI», Euporos SA is subject to an annual compliance control by an inspector mandated by OAR-G, a Self-regulatory Organisation recognised by the FINMA[Swiss Financial Market Supervisory Authority];

-          secondly, each year the company's accounts are verified and audited by a State approved external auditor [Swiss Federal Audit Office approved].

It is very important to us that we provide our services in complete transparency. Furthermore, the multiple controls which we voluntarily subject our business to, guarantee that our management is based on irreproachable integrity and honesty.