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Country Manual RotW (Rest of the World)

This manual outlines guidelines and protocols for Relationship Managers (RMs) and Investment Consultants (ICs) working for Swiss Banks/Asset Managers with clients and prospects residing in foreign countries where a country-specific manual is not available, ensuring compliance and consistency in client transactions and interactions. This manual is referred to as the "Country Manual RotW" (Rest of the World).

Here's a breakdown of the key sections and their contents:

Definitions & Abbreviations: This section provides definitions for various terms and abbreviations used throughout the manual, such as Banking services, Investment services, Occasionally, Qualified prospect/client, and Reverse solicitation.

Prospecting Phase: This section details the actions and limitations during the prospecting phase, both on the bank/asset manager's initiative and the prospect/client's initiative through reverse solicitation. It includes activities like socializing, providing business cards, presenting the bank's services, and offering documentation.

Negotiation Phase: This section covers activities during the negotiation phase, such as assisting with account opening forms, advisory/discretionary agreements, and collecting supporting documents.

Offering Additional Services: This section outlines the offering of additional services like debit cards, credit cards, e-banking, and credits, depending on the initiative (bank's or client's).

Performing Execution Only Services: This section describes the process for receiving unsolicited brokerage orders from clients.

Performing Advisory Services: This section delineates the provision of macroeconomic information, investment research, generic recommendation lists, and personalized investment advice, depending on the initiative of the prospect/client and provided that an ongoing advisory agreement is concluded in compliance with cross-border rules (i.e., on reverse solicitation, etc.)

Performing Discretionary Asset Management Services: This section addresses placement in a discretionary asset management agreement, depending on the location of the client/prospect and provided that an ongoing discretionary agreement is concluded in compliance with cross-border rules (i.e., on reverse solicitation, etc.)

Reporting Activities: This section outlines reporting activities, including sending confirmations of brokerage orders, providing account/deposit information, statements, and reporting managed account performance.

Definitions & Abbreviations:

Banking Services: These encompass activities such as accepting deposits, facilitating payments, and providing credits.

Investment Services: This category includes various activities such as receiving and executing orders for financial instruments, providing investment advice, managing discretionary mandates, and underwriting or placing financial instruments.

Occasionally: Refers to activities that are conducted infrequently and irregularly, particularly emphasizing that visits by representatives of a foreign bank/asset manager should not be intensive, systematic, or long-lasting to avoid establishing a permanent establishment or de facto branch.

Reverse Solicitation: This occurs when a client or prospect independently requests banking or investment services/products from the bank/asset manager without any prior solicitation, marketing, or promotion by a client-facing employee. The initiation must be appropriately documented and evidenced.