Client Focus – Candid Advice

Services

With our exten­sive knowl­edge of local and inter­na­tion­al reg­u­la­tion and our mul­ti­juris­dic­tion­al capa­bil­i­ties, we are well-posi­tioned to help clients around the world in deal­ing effec­tive­ly with legal, risk and com­pli­ance issues.

Fin­SA Helpdesk

Ave­laLaw has devel­oped sev­er­al poli­cies and inter­nal reg­u­la­tions for finan­cial ser­vice providers sup­port­ing their duties to ensure an appro­pri­ate organ­i­sa­tion of oper­a­tions and to reg­u­late and con­trol their rel­e­vant busi­ness process­es. All poli­cies and inter­nal reg­u­la­tions have been estab­lished in line with our prac­ti­cal expe­ri­ence to fit a reg­u­lar small to mid-sized asset man­age­ment company.

Corporate Governance - Regulate your Business

AvelaLaw has developed several policies and internal regulations for financial service providers supporting their duties to ensure an appropriate organisation of operations and to regulate and control their relevant business processes. All policies and internal regulations have been established in line with our practical experience to fit a regular small to mid-sized asset management company. The policies and internal regulations are clustered along the relevant ‘Core’ and ‘Corporate’ processes. They are available as individual documents to complement an existing policy framework or in various forms as packages to cover specific areas of business or the full range of all processes to match FINMA’s requirements on appropriate organisational measures and corporate governance. All policies include a practical description of relevant duties and responsibilities as well as a directly applicable set of controls for the first and second line of defence. In addition, AvelaLaw offers a digital ICS solution (VELA) that supports all these controls in a fully automated way (https://vela.avelalaw.com).

The Avela Policy Framework

Sales Management Policies
# Policy Name Topics covered
1.1 Policy on Client Onboarding Client segmentation (incl opting in and out), duty of information,
1.2 Policy on Combating Money Laundering and Terrorist Financing AML management (Client Identification, KYC, Client AML Risk Classification, Transaction monitoring, MROS reporting), Sanctions, Anti Bribery & Corruption
1.3 Policy on Client Advisor Know-How Required know-how and trainings for client advisors (regulatory and product know-how)
1.4 Policy on Appropriateness & Suitability of Financial Services Assessment of appropriateness & suitability of financial services
1.5 Policy on Client Reporting Content and frequency of client reporting according to min. legal requirements
1.6 Policy on Legal and Marketing Documents Availability of adequate and up to date legal documents (Prospectus, Offering Memorandum, KIID, FFS). Avoidance of inadequate marketing materials, definition of approval processes, jurisdiction & x-border adequacy. Investor qualification adequacy, in accordance with marketing & corporate design principles
1.7 Policy on Fund Distribution for ManCo For Fund Producers / Management Companies: a) Principles of distributor selection, duties and rights of distributors, incl. retrocession policy b) Principles of RFP management (data confidentiality, clustering of recipients, approval processes for publication)
Investment Management Policies
2.1 Policy on Handling of Client Orders Equal treatment of clients, churning Pre-trade controls & cash management controls
2.2 Policy on Best Execution Best execution
2.3 Policy on Market Abuse & Insider Trading Market abuse / Insider Trading
2.4 Policy on Performance Management Performance controls and explanation of differences vs. benchmarks and vs. calculated performance by custodian, stress testing / back testing of investment models (incl. exposure and liquidity testing)
Investment Operations Policies
3.1 Policy on Investment Controlling Ex ante and ex post controls on investment guidelines
3.2 Policy on Counterparty Management Counterparty Risk
3.3 Operational Controls Data quality (investment & control tools), trading operations, trade matching, settlement, corporate actions
Also available on request:
  • Policies & Control Framework on Fund Operations for Fund Management Companies
Corporate Governance Policies
5.1 Policy on Appropriate Organization & Controls Organizational checks & balances (1st / 2nd / 3rd LoD), split of responsibilities (4 eyes principle, policies management, signatory rights, IT access rights), suitable controls & interventions (ICS), incident handling & actions management, complaints & litigations handling, management of interventions by audit & regulator, general on-going staff training and staff capacities, Composition of BoD / independent members
5.2 Policy on the Operational Risk Control Framework Risk & Compliance Self-Assessment (RCSA) and stress-testing, incl internal fraud prevention (segregation of duties)
5.3 Policy on Conflicts of Interest General handling of conflict of interest, gift & entertainment handling
5.4 Policy on Outsourcing Guidelines & preconditions for the involvement of third parties, operational controls & periodic due diligence
5.5 Policy on Compensation from Third Parties Inducements, retrocessions, compensation from third parties, un-bundling of broker services
5.6 Policy on Personal Account Dealings Personal account dealings / staff transactions
5.7 Policy on Archiving & Retention of Records Archiving / record retention
5.8 Policy on Business Continuity Management IT system failures, pandemic risks, loss of key staff
5.9 Policy on Confidentiality & Data Protection Confidentiality / data protection
Information Technology Policy
6.1 Policy on IT Controls IT organization principles (incl. change & release management processes), data & cyber security principles (incl. trailing of data manipulation), access rights handling and review, Principles on IT infrastructure and service availabilities (incl. incident management)
Also available on request:
  • Policy on Finance Controls (Capital and liquidity controls, Financial Reporting, Disclosure Ruling)
  • Human Resources Policies (BoD & Management compensation, Code of conduct / ethics, employee handbook / HR manual)

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