MIG BANK - Brochure - Escuela de Negocios Ecuador

8
Regulatory Environment
M
I G BANK has a high standard of compliance and
quality throughout its organization. As an established
Swiss bank, our operations are regulated and supervised by
the Swiss Financial Market Supervisory Authority (FINMA).
This independent authority protects the clients of financial
markets, namely creditors and investors, thereby strengthen-
ing confidence in the smooth functioning, competitiveness
and integrity of Switzerland’s financial center.
Under this framework, and particularly in accordance with
the Swiss Banking Act, clients benefit from Swiss Banking
security standards, which include privileged deposits per
creditor in case of a bank default.
M I G BANK only affiliates itself with minimum AA rated
banks and financial institutions and undergoes consistent
operational audits throughout the year by KPMG, providing
external auditing, and PricewaterhouseCoopers, for internal
auditing. These measures help to assure the highest finan-
cial reporting quality, transparency and business integrity
possible.
M I G BANK is ISO certified for Quality Management and
Information Security Standards (9001 and 27001), and
employs best-practice and continual improvement tech-
niques throughout the organization to ensure sound busi-
ness operations.
Being situated in one of the world’s most stable financial
environments means that M I G BANK clients can take ad-
vantage of Swiss economic and financial security standards,
most notably Swiss banking secrecy laws.