Investec Bank (Switzerland) AG is a wholly owned subsidiary of Investec Bank Plc and is regulated by the Swiss Financial Market Supervisory Authority (FINMA). Swiss banks are obliged to hold capital and liquidity reserves which are much higher than in any other financial market. There are also strict regulations regarding the segregation of clients assets from those of the bank, hence all investments except for current account balances (over CHF 100Ao000.00), are fully ring fenced. Furthermore, the bank does not transact for its own account.