User needs to confirm Qualified Investor status to purchase security tokens.
Article 10 of the Swiss Federal Collective Investment Schemes Act (CISA) requires an investor be one of the following:
- regulated financial intermediary such as a bank, securities dealer, fund management company as well as assets managers of collective investment schemes
- regulated insurance company
- public entity or insurance company with professional treasury departments
- company with high profile treasury departments
- high net worth individual: someone who can confirm in writing that they directly or indirectly have net financial investments of at least $2,000,000 Swiss francs
- investor who has entered into a written asset management agreement with supervised financial intermediary such as a bank, securities dealer, fund management company as well as asset managers of collective capital investments.
Article 6 of the Swiss Federal Collective Investment Scheme Ordinance (CISO) considers Qualified Investors as independent assets managers and investors who have entered into a written asset management agreement with independent asset managers to the extent that:
- the asset manager as financial intermediary is subject to the Money Laundering Act (MLA)
- the asset manager is subject to a professional code of conduct which is conduct with is recognized as a minimum standard by the supervisory authority, and
- the asset management contract contains the recognized guidelines of a professional organization
Any documents showing that the User meets the requirements.