INTRODUCTION
This brochure provides essential information about the Swiss Financial Services Act (FinSA), which entered into force on 1 January 2020. FinSA aims to strengthen investor protection. The brochure contains information on the implementation of the new regulatory standards applied to clients served by DCAP AG, Switzerland. Further information can be obtained from the client’s relationship manager.
DCAP AG
DCAP AG is a company limited by shares incorporated and existing under the laws of Switzerland, having its registered office at Löwenstrasse 29, 8001 Zurich 1, Switzerland and registered with the Canton of Zurich under the number CHE-464.563.182.
SUPERVISORY AUTHORITY
DCAP AG is licensed as a portfolio manager by the Swiss Financial Market Supervisory Authority (FINMA) and affiliated with the supervisory organisation AOOS Schweizerische Aktiengesellschaft für Aufsicht.
FINANCIAL SERVICES
DCAP AG acts as a portfolio manager to collective investment schemes and offers those to professional and institutional clients as defined in the FinSA. Furthermore, DCAP AG provides the service of reception and transmission of orders (e.g., forwarding of the subscription application to the collective investment schemes) with respect to the collective investment schemes.
CLIENT CLASSIFICATION
DCAP AG, as financial services provider, is required by law to classify its clients into three categories: retail (private), professional and institutional clients.
Based on these classifications, the corresponding level of regulatory protection will vary:
· retail (private) clients are granted the highest level of regulatory protection.
· professional clients are deemed to have the necessary knowledge and experience to invest in all asset classes and to be financially able to bear the investment risks associated with the financial service.
· institutional clients are granted the lowest level of regulatory protection. DCAP AG is neither bound to the duty to provide information, duty to review, duty to document, rendering of account nor transparency and conduct rules.
Please note that we do not service retail clients.
CHANGE IN CLIENT CLASSIFICATION
Clients may declare in writing that they wish to “opt out” (reduce their regulatory protection) or, alternatively, “opt in” (increase their regulatory protection). The following changes are allowed:
HNW / Private Clients:
High-net-worth retail clients and private investment structures may request in writing to be re-classified as professional clients (“opting out”). To become a professional client, the client must meet at
least one of the following legal requirements:
· the client has the necessary knowledge based on training, education, and professional experience, or based on comparable experience in the financial sector to understand the risks associated with the investments and has eligible assets of at least CHF 500 000; or
· the client has eligible assets of at least CHF 2 million.
Direct investments in real estate and claims from social insurance schemes as well as occupational pension assets do not qualify as eligible financial investments.
Professional clients:
Occupational pension schemes and other institutions whose purpose is to serve occupational pensions with professional treasury operations and companies with professional treasury operations may declare in writing that they wish to be treated as institutional clients (“opting out”) or, on the other hand, all professional clients that are not institutional clients may declare in writing that they wish to be treated as retail (private) clients (“opting in”).
Institutional clients:
Institutional clients may declare in writing that they wish to be treated as professional clients (“opting in”).
Should a client wish to “opt-in” or “opt-out”, please contact the client relationship managers at DCAP AG.
EXEMPTION FROM SUITABILITY ASSESSMENT
No suitability or appropriateness assessment is required if the service being provided consists of offering of collective investment schemes and/or the receipt and transmission of orders in relation to those collective investment schemes. DCAP AG informs its clients via this brochure that no such assessments are conducted prior to the service being rendered.
RISKS IN FINANCIAL INSTRUMENTS
Trading in financial instruments such as collective investment schemes involves financial risks. These risks can vary significantly depending on the financial instrument. The various types of financial instruments and the associated risks are described in the brochure "Risks in Trading with Financial Instruments" published by the Swiss Bankers Association, available at www.swissbanking.org.
CONFLICTS OF INTEREST
DCAP AG adheres to the strictest ethical standards and has taken organisational measures to prevent situations of conflict arising between its (including our employees) and the client’s interests. DCAP AG has also identified a certain number of potential conflicts of interest and provided for mitigation measures to prevent them. If DCAP AG identifies a conflict of interest that cannot be resolved, it will notify the client of the nature and source of this conflict, the risk associated with it, and the measures taken to mitigate it, so that the client can take an informed decision.
COMPLAINTS HANDLING
Client feedback and complaints are best addressed directly to the client’s dedicated relationship manager or contact person.
If a client perceives a response to be inadequate, DCAP AG would like to be informed so that the situation can be rectified. Should a client be dissatisfied with the way DCAP AG has dealt with its concern, the client may contact the following ombudsman office:
Name: Finanzombudsstelle Schweiz (FINOS)
Address: Talstrasse 20
ZipCode / Place: 8001 Zürich
Phone: +41 44 552 08 00
Website: info@finos.ch
STATUS AND UPDATES
The brochure reflects the status as of May 2023.
