Mark Buerki, Swisquote CEO, says in an interview with Finanz und Wirtschaft that last year they decided not to participate in the Category 2 of the US Program after carefully reviewing their client base and considering their business model. They do not practice traditional ‘Private Banking’ and do not have private bankers. Moreover their services were not marketed to the US.

Swissquote is considering the option of joining Category 3 or even not participating at all.