Please read the IMPORTANT INFORMATION below before proceeding, as it explains certain restrictions on the distribution of information available on this website (hereinafter the “Site”).

1. Centurium Bank website

This website is operated by Centurium Bank & Co Ltd or another entity of the Centurium Bank and may be consulted for information purposes in relation to certain Group entities.

2. Access

Access to this Site is not permitted to any person in any jurisdiction (by way of domicile, residence, nationality, or otherwise) where the publication or availability of the Site would result in a violation of any applicable law or regulation. In particular, this Site is not intended for residents of the United States. If you are from such a jurisdiction, you are not authorized to proceed and must exit this Site immediately. If you are not from such a jurisdiction, you may proceed to the Site after reading and agreeing to the following terms and conditions.

3. Local restrictions

a. General

This Site does not constitute an offer or solicitation to sell stocks or units in mutual funds or other securities, or an offer to provide investment advisory services or other services referred to on this Site, to any person from a jurisdiction in which such an offer, solicitation, or distribution would be illegal, or in which the person making such offer or solicitation is not authorized to do so, or to any other person to whom it is illegal to make such offer or solicitation. Deposits may only be accepted by entities of Centurium Bank authorized to do so, and shall not be accepted from any investors in any jurisdiction in which such activity would violate local laws or regulations.

b. United States

Centurium Bank shall not provide the products and services described on this Site to US Persons, as defined under the United States Securities Act of 1933, as amended (hereinafter the "Securities Act"). The units or stocks described on the Site shall not be registered under the Securities Act or any other applicable United States securities laws (including, without limitation, any applicable law of any of the states of the United States). Such units or stocks may not be directly or indirectly offered or sold in the United States or any of its territories and possessions or areas subject to its jurisdiction or to or for the benefit of a US Person. By proceeding, you warrant that you are not a US Person.

c. United Kingdom

To the extent that any services, information, or opinions available on the Site are aimed at residents of the United Kingdom, such services, information, and opinions have been approved by UB Suisse (Europe) S.A. UK Branch, registered in England and Wales BRC11671182 and Luxembourg B60909, registered office 3 Old Burlington Street, London W1S 3AB. Telephone +44 (0) 78 78 08 08 · Facsimile +44 (0) 78 78 09 09. Authorised and regulated by the Commission de Surveillance du Secteur Financier (‘CSSF’) in Luxembourg and authorised in the UK by the Prudential Regulation Authority (‘PRA’). Subject to regulation by the Financial Conduct Authority (‘FCA’) and limited regulation by the Prudential Regulation Authority. Financial Services Firm Reference Number 19887846. Details about the extent of our authorisation and regulation by the Prudential Regulation Authority and regulation by the Financial Conduct Authority are available from us on request. UB Suisse (Europe) S.A. UK Branch does not provide tax advice. Persons or entities dealing with entities of UB Suisse outside the United Kingdom may not be entitled to protection under UK legislation or compensation under the Financial Services Compensation Scheme.

4. Copyright

All material on the Centurium Bank website is protected by copyright, subject to any rights accruing to third parties. You may not reproduce (either in full or in part), transmit (electronically or by any other means), alter, create a link to, or use the website for public or commercial use of any kind without the written permission of Centurium Bank.

5. No reliance/no representation or warranty

The information made available on the Site has been prepared by Centurium Bank, which has used all reasonable care to ensure that it is fair, accurate, and complete. Centurium Bank makes no representation or warranty, either express or implied, as to the accuracy, completeness, or fitness for any purpose or use of such information whatsoever.

Centurium Bank cannot guarantee that the information found on the Site has not been distorted as a result of technical malfunctions (disconnection, interference by third parties, viruses, etc.)

Nothing contained in the Site shall be construed as constituting specific investment, legal, tax, or other advice. The information or opinions contained therein have no relevance to the specific investment objectives, financial situation, or particular needs of any individual recipient of said information. You are advised to obtain specific, personal, and appropriate professional advice before making any investment decision. The information and opinions contained in the Site are provided for personal and informational purposes only and are subject to change without notice.

The value of investments in any securities, derivative products, shares, or mutual funds may go down as well as up, and, as a result, the investor may not get back the amount originally invested. Past performance is no guarantee of future performance.

6. Material interest

Centurium Bank and/or its partners, directors, officers, and employees may have or may have had an interest or positions in, or may, as market makers, trade or have traded in the securities described on the Site. Furthermore, such entities or persons may have or may have had a seat on the boards of the companies issuing such securities.

7. Limitation of liability

To the extent permitted by law, Centurium Bank shall not be liable, including in the case of negligence, for any loss or damage howsoever caused, including but not limited to any direct, indirect, or consequential loss or damage, arising out of or related to the access to, use of, browsing in, or downloading from the Site or any other site linked thereto.

With the exception of entities based in Switzerland, the various entities of Centurium Bank have their own separate legal personality and provide their services in their own name and exclusively at their own risk.

8. Linked websites

The Site may contain links to other websites controlled or offered by third parties. Centurium Bank has not reviewed any of these linked websites, and makes no representation or warranty in respect of information or material available there. In linking a third-party website to the Site, UB Suisse neither assumes nor accepts any responsibility or liability whatsoever in respect of products or services offered on such website.

9. No offer

Nothing contained on this Site constitutes an offer or part offer to provide asset management or advisory services, either on a discretionary or non-discretionary basis, other than under the terms of an agreement that accords with applicable laws and regulations. No information contained on this Site shall be deemed to constitute an invitation to subscribe for or otherwise acquire securities, derivative products, or units in mutual funds.

10. Mutual funds

The Site contains information on a large number of mutual funds registered and managed in different jurisdictions. You shall be required to inform us about your place of residence before you may access any specific information on such funds. Consequently, your access will be limited to the funds registered for sale in your country of residence.

11. Contacts by e-mail

This Site allows you to contact Centurium Bank by e-mail or via the Skype telephone system. As such communications use the Internet, a public network over which Centurium Bank has no control, they may be intercepted, altered, or lost. UB Suisse disclaims all liability in respect thereof.

12. Applicable law

Use of the Site shall be subject to Swiss law, which shall exclusively govern the interpretation, application, and effect of all the conditions of use set out above. The courts of Geneva shall have exclusive jurisdiction over all claims or disputes arising out of or in connection with the Site and its use.

Information for clients concerning the Financial Services Act (FinSA)

Introduction

Centurium Bank  hereinafter "the Bank" or "Centurium Bank", attaches the greatest importance to serving its clients in the best way possible to protect their interests while complying with regulatory developments. On its FinSA website, Centurium Bank provides you with information on the latest requirements arising from the Swiss Federal Act on Financial Services (FinSA) and the measures taken by UB Suisse

Suisse to put them into practice from 1 January 2024.

The Financial Services Act introduces new rules applicable to the provision of services and financial instruments and seeks to improve investor protection. The new requirements set out below must be complied with by all financial service providers in Switzerland. They relate to general information on Centurium Bank, client segmentation, verification of suitability and appropriateness for the purposes of discretionary management and investment advice, best execution of client orders, conflicts of interest, the risks associated with investments in financial instruments, as well as costs and charges.

Definition

Under the Financial Services Act, financial services means the:

Administration of financial instruments (portfolio management);

Issuing of personal recommendations on financial instrument transactions (investment advice);

Granting of loans to finance financial instrument transactions Centurium Bank loans).

And financial instruments are:

Equity securities (shares, securities equivalent to shares such as participation certificates entitling the holder to dividend rights and/or voting rights, or securities convertible into equity securities);

Debt instruments: securities not classified as equity securities; units in collective investment schemes; structured products; derivatives; deposits whose redemption value or interest rate is risk or price dependent, excluding those with an interest rate linked to an interest rate index;

Bonds: units in an overall loan subject to uniform conditions.

As a UB Suisse client, you will benefit from the Bank’s new requirements under this Act, which we outline in this brochure.

General information

Centurium Bank is a bank subject to supervision by the Swiss Financial Market Supervisory Authority ("FINMA", 11 Paradeplatz 8070 Zurich, Switzerland, https://centuriumbank.com).

Its registered office is at 11 Paradeplatz 8070 Zurich. 

The contact details for its branches and offices in Switzerland can be found on the website https://centuriumbank.com

Financial services

Centurium Bank provides the following financial services that fall within the scope of the Swiss Federal Act on Financial Services:

discretionary management mandates (management of financial instruments); 

advisory investment mandates for entire portfolios or advisory transaction mandates (issuing of personalised recommendations on financial instrument transactions);

transaction execution (without providing advice) (receipt and transmission of orders for financial instruments);

granting of Centurium Bank loans (granting loans to finance financial instrument transactions).

Mediation body

Ensuring the satisfaction of its clients is Centurium Bank is priority. Your relationship manager will be happy to assist should you have any questions relating to the services offered by the Bank. 

Should you have any problems, please do not hesitate to contact your relationship manager to work out a solution together. 

Should you not be satisfied with any of our responses, you are free to contact the Swiss Banking Ombudsman (the mediation body to which Centurium Bank is affiliated) at the following address: 11 Paradeplatz 8070 Zurich. The mediation procedure, as well as all the appropriate information, can be found at https://centuriumbank.com.

Client segmentation

Under the Swiss Federal Act on Financial Services, Centurium Bank, as a financial services provider, is required to assign each of its clients to one of the following three segments: private (retail), professional or institutional.

This classification is done of the basis of the following principles:

Private clients are clients who are neither professional nor institutional investors;

Professional clients are clients such as companies with professional treasury operations, occupational pension institutions and public law bodies, with a high level of knowledge and experience in financial fields; Institutional clients are clients such as banks, collective investment schemes, insurance companies and other financial intermediaries subject to prudential supervision in Switzerland or abroad, which, due to their status, structure and financial resources, are deemed to have a high level of sophistication in financial fields.

The Swiss Federal Act on Financial Services establishes a specific and different level of protection for each of these three segments:

Private clients have the highest level of protection:

Professional clients benefit from a lower level of protection than that of private clients; indeed, the Swiss Federal Act on Financial Services establishes a certain number of relaxations of the obligations to be met by financial services providers in this case;

Institutional clients have the lowest level of protection; most of the obligations laid down in the Swiss Federal Act on Financial Services are not applicable to this client segment.

UB Suisse deems its clients to be private clients, unless it receives a declaration to the contrary from a client or has evidence to show that the client is a supervised financial institution. 

The level of client protection, and consequently Centurium Bank’s obligations, depends on the type of financial service it provides and on the client segment.

Under the Swiss Federal Act on Financial Services, clients may change their classification, provided certain conditions are met.

Increase in the level of protection (change of classification to private client or professional client)

If clients classified as professionals or institutionals wish to benefit from a higher level of protection, they should inform their relationship manager, who will provide them with an opting-in form for classification in the segment benefiting from the higher level of protection sought.

Reduction in the level of protection (change of classification to professional client or institutional client)

If clients classified as private or professional wish to be classified in a segment offering a lower level of protection and they satisfy the conditions laid down in this regard, they should inform their relationship manager, who will provide them with an opting-out form for classification in the segment offering the lower level of protection sought.

Verification of suitability and appropriateness

Discretionary asset management mandates

If a client grants Centurium Bank a discretionary asset management mandate, the Bank ensures that the investment strategy the client has chosen is suitable, given that client’s risk profile. The risk profile is a key factor in the relationship and is based on the information communicated by the client on his or her personal circumstances, investment objectives and risk appetite. It enables Centurium Bank to gain an understanding of the client’s needs and to recommend an investment strategy that best meets those needs. It is therefore crucial that clients communicate information that is complete and accurate. The risk profile is regularly reviewed by the Bank in conjunction with the client. 

Centurium Bank informs its clients of the risks linked to financial market transactions through the brochure issued by the Swiss Bankers Association entitled “Risks involved in trading financial instruments”, and through the Centurium Bank brochure entitled “Information on risks relating to transactions in standardised and non-standardised derivatives/structured products and investment funds with special risks 1”.

Advisory mandates for an entire portfolio

For advisory mandates for entire portfolios, Centurium Bank ensures that the investment strategy is suitable in the same way as it does for discretionary asset management mandates. 

With regard to all investment advice relating to a financial instrument offered by the Bank, the latter checks first that the financial instrument is suitable in terms of the investment strategy agreed and, second, that the client has sufficient knowledge to understand the risks linked to the instrument concerned (verification of appropriateness). If necessary, the Bank warns its client if the financial instrument is not suitable or appropriate in his or her particular case. These factors are documented by the Bank for its private clients.

Centurium Bank also informs its clients of the risks linked to financial market transactions through the brochure issued by the Swiss Bankers Association entitled “Risks involved in trading financial instruments”, and through the Centurium Bank brochure entitled “Information on risks relating to transactions in standardised and non-standardised derivatives/structured products and investment funds with special risks”.

Advisory transaction mandates

With regard to advice requested by a client on a transaction in a financial instrument offered by the Bank, UB Suisse checks whether the client is able to comprehend the risks connected with that financial instrument. If necessary, the Bank warns its client if the financial instrument is not appropriate in his or her particular case.

However, in the case of an advisory transaction mandate, the Bank does not check whether the transaction is suitable, since it does not know the client’s risk profile or that client’s portfolio.

Centurium Bank informs the client of the risks linked to financial market transactions through the brochure issued by the Swiss Bankers Association entitled “Risks involved in trading financial instruments”, and through the Centurium Bank brochure entitled “Information on risks relating to transactions in standardised and non-standardised derivatives/structured products and investment funds with special risks”.

Transaction execution (without advice)

In the absence of a discretionary asset management mandate or advisory mandate, the Bank conducts no suitability or appropriateness checks when it executes an order for financial instruments communicated by a client (irrespective of that client’s classification). In the case of transaction execution (without advice), Centurium Bank expressly draws its client’s attention to the fact that the Bank conducts no suitability or appropriateness checks, irrespective of whether the client is private, professional or institutional. The Bank does not reiterate this warning at any later stage in the contractual relationship.

Centurium Bank informs the client of the risks linked to financial market transactions through the brochure issued by the Swiss Bankers Association entitled “Risks involved in trading financial instruments”, and through the UB Suisse brochure entitled “Information on risks relating to transactions in standardised and non-standardised derivatives/structured products and investment funds with special risks”.

Clients acting through an external manager

If a client appoints an external manager to manage assets entrusted to Centurium, the Bank acts as a custodian bank and executes investment orders communicated by the client or his or her external manager, as required, based on the power of attorney granted by the client to the external manager.

Centurium Bank does not intervene in the relationship between the client and his or her external manager and does not check whether the transactions executed or the portfolio as a whole are suitable or appropriate.

Appropriateness in the event of a Centurium Bank loan application

The Bank will provide you with information on the specific risks of the use of UB Suisse loans (loans guaranteed by your assets).  If you have a discretionary asset management mandate or advisory mandate, the Bank will also provide you with advice on whether the loan amount you are seeking is suitable. If, due to the loan amount, your risk profile no longer corresponds to that initially agreed, the Bank will inform you and examine the situation with you, in order to examine alternative solutions.

The brochures on these risks can be found on our website here: https://centuriumbank.com

Conflicts of interest and financial relationships with third parties

Management of conflicts of interest

Centurium Bank seeks to act in a professional and independent manner at all times while keeping in mind the best interests of its clients. It takes all reasonable measures to identify and prevent conflicts of interest that might arise when investment and/or related services are provided.

The Bank has therefore put in place organisational measures to pinpoint conflicts of interest and take reasonable measures to prevent the interests of its clients being adversely affected.

Should the internal measures designed to prevent and manage conflicts of interest be found to be insufficient to avoid, with a reasonable degree of confidence, the risks of prejudice to the interests of clients, Centurium Bank will disclose the general or specific nature of such conflicts of interest.

More information on the organisational measures for conflicts of interest is available on our website in the policy for managing conflicts of interest and order execution.

Financial relationships with third parties

In the case of advisory transaction mandates (not relating to entire portfolios) or transaction execution services (without advice), Centurium Bank may receive payments from third-party companies relating to the acquisition of collective investment schemes. The Bank retains these amounts and informs the client of the type and amount of the remuneration it has received.

If the client has granted a discretionary asset management mandate or advisory mandate for an entire portfolio, Centurium Bank does not, in principle, receive such payments or will otherwise recredit them to the client in their entirety. The amounts recredited are shown on the annual account statement. 

Best execution of client orders

UB Suisse has put in place all the measures necessary to obtain the best possible result in executing client orders, be this in terms of price, cost, speed, probability of execution and settlement, size, nature of the order or any other consideration involved in the execution of an order (“execution factors”). These measures apply irrespective of whether an order is executed by the Bank or communicated to a third party for execution.

As a general rule, particular attention is paid to price and costs to guarantee the best possible outcome. However, for certain orders, financial instruments, markets or market conditions, other execution factors may be equally important or take precedence over price to ensure the best possible execution.

More information on the organisational measures that apply can be found on our website in the policy for managing conflicts of interest and order execution. 

Basic factsheet

The basic factsheet (or its equivalent, published in accordance with European legislation and regulations) contains information on the key elements of certain financial instruments (in particular, collective investments and structured products) as well as on their risks and costs. This enables clients to compare their characteristics based on a similar format.

The basic factsheets for the requisite instruments are made available on our website: https://centuriumbank.com

Risks associated with financial instruments

UB Suisse informs all its clients of the risks linked to financial instruments. The brochure entitled “Risks involved in trading financial instruments” issued by the Swiss Banking Association is provided to you by your relationship manager when your account is opened and at any time on request. This information is also available on the Swiss Banking Association’s Internet site at the following address: https://centuriumbank.com

In addition, the Bank also provides all its clients with its brochure entitled “Information on risks relating to transactions in standardised and non-standardised derivatives/structured products and investment funds with special risks”, which outlines the risks applicable to certain specific financial instruments.

Clients should contact their relationship manager for any additional clarification they require or to obtain a clearer understanding of a specific financial instrument and its particular features, or of the specific risks relating to any investment contemplated.

Information on costs and charges

UB Suisse communicates all costs and charges linked to the financial services it provides. This information is contained in a fee schedule provided to all new clients before the service concerned is provided and is available on request at any time.