Regulatory Disclosures

Patriot Act Certification

Pursuant to the USA PATRIOT Act and final rules issued by the U.S. Department of the Treasury, a U.S. bank or a U.S. broker-dealer in securities (a 'Covered Financial Institution') is required to obtain certain information from any 'Foreign Bank' that maintains a correspondent account with it.

General statement on observance of anti-money laundering requirements

Falcon Private Bank is firmly committed to participating in international efforts to combat money laundering and the funding of terrorist and criminal activities.

Falcon Private Bank is a company with its headquarters in Switzerland, Pelikanstrasse 37, 8021 Zurich and as a registered banking institute is supervised by the Swiss Financial Market Supervision Authority (FINMA). In addition, Falcon Private Bank is a member of the Swiss Bankers Association (Schweizerische Bankiervereinigung), which as the Swiss banks' self regulatory body draws up binding codes of conduct which define what constitutes good practice and ethically correct management within the Swiss banking industry.

Switzerland is a member country of the Financial Action Task Force (FATF) and has enacted laws and rules designed to implement the anti-money laundering policies of both FATF and the EU. The goal of these laws is to detect and prevent money laundering and potential terrorist financing.

Falcon Private Bank implements an anti-money laundering (AML) program that is designed to comply with the required anti-money laundering rules as a minimum standard throughout the bank as well as with all local laws, regulations, and guidance relating to the prevention of money laundering, terrorist financing, and related financial crimes. These include written policies and procedures, a designated anti-money laundering officer, regular training for relevant employees, and an independent audit to test the implementation of the program.

As part of its anti-money laundering and anti-terrorist compliance efforts, Falcon Private Bank takes steps to ensure that it complies with any and all applicable embargo regulations. Falcon Private Bank uses its best efforts to ensure compliance with these prohibitions and restrictions and to detect suspicious activities. Depending on the jurisdiction and business line, Falcon Private Bank operates technical systems and/or manual monitoring systems to detect potential suspicious activities. Any such suspicious activities detected are reported to law enforcement in accordance with applicable local laws.

Falcon Private Bank AML Questionnaire 2016 [PDF]

If you have any questions or require additional information regarding Falcon Private Bank anti-money laundering efforts, please contact:

Falcon Private Bank Ltd.
Pelikanstrasse 37
P.O. Box 1376
8021 Zurich, Switzerland

+41 44 227 55 55

Risk Assessment

The Board of Directors and the Executive Board regularly examine and monitor critical risks to which the Group is exposed. For credit risk, the assessment is based on risk rating categories and underlying collateral, as well as on external ratings. Market risk derived from the positions held in the trading and banking book is part of the asset and liability management. Liquidity risk reflects the Group’s ability to fulfil its obligations vis-à-vis debt providers. For operational risk, the assessment is based on the Bank’s internal risk inventory of the Group’s key activities. With information concerning the likelihood that risk events will occur, the impact on the Group’s financial statements including risk-reducing measures is estimated. The Board of Directors defines and reviews the risk policy on a regular basis and adapts the risk framework, which includes Risk Weighted Assets (RWA) limits for each risk category whenever required.

Risk management

The risk policy approved by the Board of Directors along with the existing policies that govern the handling, recording and assessing of latent risks form the basis of risk management. Identifying, measuring and controlling risk is an important function for the Bank. In order to enable the Board of Directors to fulfil its responsibilities and carry out its monitoring function, it regularly receives relevant risk reports. The internal reports provide appropriate information on all key risk areas. Maintaining a positive reputation and a strong credit rating is part of the Group’s key goals. The Group ensures that its regulatory capital requirements are met at all times, and has defined its capacity and willingness to accept risk in line with its business plan.

Last updated: March 20, 2018