FinSA - Client Categorisation and Information

On 1 January 2020, the new Swiss Financial Services Act (“FinSA”) entered into force. Entities providing financial services to clients in Switzerland are thereby subject to a new regulatory framework which is designed to enhance client protection, inter alia through introduction of new rules regarding client categorization, as well conduct and organizational standards.

According to Art. 103 et seq. of the Swiss Financial Services Ordinance (“FinSO”), financial service providers may, with respect to significant parts of FinSA, avail themselves of a transition period of up to two years.

This notwithstanding, and for the benefit of its clients, State Street Global Advisors (“SSGA”) has decided to fully comply with FinSA requirements already as from 1 January 2021.

Against this background, SSGA would like to inform you of the following:
 

          1. Information about the Financial Services Providers

Switzerland:
State Street Global Advisors AG
Beethovenstrasse 19
8027 Zürich
Switzerland

State Street Global Advisors AG acts as sales and distribution platform for SSGA investment funds in Switzerland and the Principality of Liechtenstein. As such, State Street Global Advisors AG is not subject to a regulatory approval requirement in Switzerland, and therefore not subject to prudential supervision by the Swiss Financial Markets Authority FINMA. State Street Global Advisors AG is registered in the Commercial Register of the Canton Zürich under the registration number CHE-105.078.458.

Ireland / France:
With respect to Sales and Distribution of SSGA investment funds in Romandy, SSGA AG is supported by

State Street Global Advisors Ireland Limited
Branch in Paris
Défense Plaza
23-25 rue Delarivière-Lefoullon
92064 Paris La Défense Cedex
France

State Street Global Advisors Ireland Limited is authorized by the Central Bank of Ireland as an Investment Firm under Regulation 8 (3) and deemed authorised under Regulation 5 (2) of the Statutory Instrument No. 375/2017 European Union (Markets in Financial Instruments) Regulations 2017. It has its registered seat at 78 Sir John Rogerson's Quay, Grand Canal Dock, Dublin, D02 HD32, Irland, Company Number 145221. State Street Global Advisors Ireland Limited, Paris Branch, is registered in France with company number RCS Nanterre 832 734 602]

United Kingdom:
State Street Global Advisors Limited
20 Churchill Place
Canary Wharf
London E14 5HJ
United Kingdom

State Street Global Advisors Limited acts as investment manager with respect to portfolios of – amongst others – Swiss clients and moreover acts in the area of sales and distribution for SSGA investment funds in various jurisdictions including Switzerland. State Street Global Advisors Limited is licensed by the UK Financial Conduct Authority (“FCA”) inter alia for Managing Investments, Advising on Investments, Arranging Deals in Investments, and making Arrangements with a view to Transactions in Investments as defined by the FCA, and is, in such capacity, supervised by the FCA. State Street Global Advisors Limited is registered under the Companies House Number 2509928.]

United States of America:
State Street Global Advisors Trust Company
One Iron Street
Channel Center Building
Boston, MA 02210-1641
USA

State Street Global Advisors Trust Company acts as investment manager with respect to portfolios of – amongst others – Swiss clients. State Street Global Advisors Trust Company is authorized to conduct trust and fiduciary services under chapter 167G of the Massachusetts General Law and is supervised by the Massachusetts Division of Banks. State Street Global Advisors Trust Company incorporated in the state of Massachusetts.]

2. Information about the Financial Services

The Financial Services provided to you can be either categorized as

a. acquisition or disposal of financial instruments according to Art. 3 lit. c No. 1 FinSA. SSGA does not provide you with personal recommendations on transactions with financial instruments within the meaning of Art. 3 lit. a FinSA. SSGA is not required to assess the appropriateness and suitability under FinSA; or

b. administration of financial instruments (portfolio management) according to Art. 3 lit. c No. 3 FinSA in conjunction with the acquisition or disposal of financial instruments according to Art. 3 lit. c No. 1 FinSA. Regarding the acquisition or disposal of financial instruments according to Art. 3 lit. c No. 1 FinSA, SSGA does not provide you with personal recommendations on transactions with financial instruments within the meaning of Art. 3 lit. a FinSA. In this regard, SSGA is not required to assess the appropriateness and suitability under FinSA.


3. Risk Information

 Investing involves risk including the risk of loss of principal.

 With respect to risks from your investments in SSGA products, please refer to the specific risk disclosures in the official prospectus, which can be obtained from the main distributor in Switzerland, State Street Global Advisors AG, Beethovenstrasse 19, 8027 Zurich, as well as / or to the relevant disclosures on ssga.com.


4. Information about Economic Relationships

 State Street Global Advisors AG and State Street Global Advisors Ireland Limited are subsidiaries of State Street Corporation, State Street Financial Center, One Lincoln Street, Boston, Massachusetts 02111-2900, USA, registered with the US Federal Reserve as a bank holding company pursuant to the Bank Holding Company Act of 1956.

State Street Global Investors Limited is a subsidiary of State Street Corporation, State Street Financial Center, One Lincoln Street, Boston, Massachusetts 02111-2900, USA, registered with the US Federal Reserve as a bank holding company pursuant to the Bank Holding Company Act of 1956.

State Street Global Advisors Trust Company is a subsidiary of State Street Corporation, State Street Financial Center, One Lincoln Street, Boston, Massachusetts 02111-2900, USA, registered with the US Federal Reserve as a bank holding company pursuant to the Bank Holding Company Act of 1956.

SSGA has taken appropriate measures in line with applicable regulation to mitigate any conflicts of interest.


5. Information about affiliation with a Swiss Ombudsman

State Street Global Advisors AG, State Street Global Advisors Limited (UK), SSGA Ireland Limited and State Street Global Advisors Trust Company have appointed the following ombudsman for any kind of disputes for according mediation:

Verein Ombudsstelle Finanzdienstleister (OFD)
Bleicherweg 10
CH-8002 Zürich
www.ofdl.ch
E-Mail: ombudsmann@ofdl.ch

Ombudsman proceedings are conducted on a confidential basis and in any official language of the Swiss Confederation chosen by you.

6. Contact Details

In case of questions, kindly contact your responsible Client Relationship Manager, or, alternatively

Mr. Bernhard Wenger
Country Head SSGA Switzerland
c/o State Street Global Advisors AG
Beethovenstrasse 19
8027 Zürich
Switzerland

Bernhard_Wenger@ssga.com
Tel. 0041 44 2457004]
 

3356421.2.1.EMEA.INST
Exp. Date: 31.12.2021