WORKING GROUP 6
COMMODITIES TRADING AND COMMERCIAL BANKING
Stéphane Ndzie Ngono
The creation of this Group in 2005 follows a specific request from certain members employed by financial intermediaries active in commodities trading and documentary credits or providing other commercial banking services, Geneva having a significant activity in these fields.
This Group mainly addresses the following topics:
- Reflection on specific problems in (commodity) trading and search for common solutions;
- Search for an adequate interpretation of the different laws (OBA-FINMA, CDB,...), which are primarily intended for Private Banking;
- Creation of an adapted training support for the Front Office (practical cases, "best practices"...);
- Identification (beneficial owners) of the parties involved in transactions and trading structures (trading company, domiciliary company, Swiss branch of an off-shore company, etc.);
- Public corruption / Private corruption;
- Identification of money laundering risks specific to trading.
WG 6 meets on Tuesday, once a month, from 16:30 to 18:00