FAQ

Questions about the Association

SSPA Swiss Structured Products Association strives to maintain and represent the shared interests of its members in the field of structured products and to strengthen the image of such products and thus, the Swiss Financial Center as a whole. SSPA does not engage in any business activities of its own. To fulfill its purpose, SSPA:

raises awareness of structured products and Association members in Switzerland and abroad
provides information on structured products and their use in asset management
promotes acceptance of structured products in asset management
makes recommendations as needed and defines conduct and industry standards
monitors the playing field and operating conditions, in Switzerland and abroad, to which structured products are subject. SSPA also generates studies and statistics and suggests possible solutions to members’ concerns.

Who are the Association members?

Currently, the SSPA comprises 19 members, including passiv members Derivative Partners Group, Global Financial Products, Notenstein Private Bank, Picard | Angst and Scoach Switzerland as well as the following 14 active members: Banque Cantonal Vaudoise BCV, Bank Julius Bär, Bank Vontobel AG, Barclays Capital, Commerzbank, Credit Suisse, Deutsche Bank AG, EFG Financial Products, Goldman Sachs International, Royal Bank of Canada, RBS, Société Générale, UBS AG and the Cantonal Bank of Zurich (ZKB).

What is the road to Association membership?

A written application to the SSPA Business Office leads to consideration by the SSPA Committee. The Association is open for both passive, as well as active membership. To qualify for active membership, a candidate must

issue structured products
maintain a substantial presence in Switzerland directly or indirectly, via group companies, with offices and personnel related to the issuance, listing and marketing of structured products
maintain regular listings of a sizeable volume of structured products at SIX Swiss Exchange

Legal entities as well as individuals supporting the intentions and objectives of the SSPA may apply for passive membership.

The SSPA Committee may decline membership in the Association without giving a particular reason.

How is the Association structured?

The bodies of SSPA are the Delegate Meeting, the Committee and the Business Office. At the Delegate Meeting each active member has two votes. Passive members may participate at the Delegate Meeting without voting rights.

The SSPA Committee consists of the five following members: Daniel Sandmeier, Credit Suisse (President); Georg von Wattenwyl, Vontobel (Vice-President); Irene Brunner, RBS; Patrick Grob, UBS; Claudio Topatigh, ZKB. No more than one delegate per active member may occupy a Committee seat.

If needed, the Association may nominate working groups that deal with specific aspects of Association work. Both, passive and active members may participate in working groups.

What are the tasks of the Business Office?

The SSPA Business Office executes decisions made by the Delegate Meeting and the Committee. It coordinates and organizes Association objectives and keeps the Committee continually informed. The Business Office is represented at Delegate and Committee meetings in an advisory capacity.

Questions on Association activities

What is SSPA's mission?

It issues Association communications designed to promote dialogue and provide information about structured products and new structured product developments. The Association's three core areas are

Public Relations
Legal & Regulation
Operations & Standards

The goal of Association public relations is to maintain ongoing contact with the media and to support its target groups with information about the structured product market. The legal & regulation sector helps represent the interests of Association members as new Federal laws and regulations are drafted and supports member banks in their concerns. Operations & standards issues industry standards and recommendations designed to promote cooperation among market participants as a means of aiding market growth.

What are the SSPA’s target groups?

The Association targets several groups, including journalists, the media, regulators and sectors of Switzerland's Federal Government, customer advisors and asset managers, other interest groups, as well as interested sectors of the public at large.

Does SSPA market structured products?

No. Product marketing is a matter for issuers themselves.

Is the SSPA liable for structured products bought at an SSPA member bank?

No. We aim to convey information about and knowledge of structured products. We do not participate in issuing or distributing our members’ structured products. Responsibility rests with them alone.

For further information regarding liability, please read the brochure of the Swiss Bankers Association “Special Risks in Securities Trading”.

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