nature of an asset management agreement implies that the customer is entitled to all the benefits of the management of the business, including, in particular, retrocessions. The customer can demand from his asset manager the release of all retrocessions. Unlike in Switzerland, however, there is a more favorable limitation period for customers in Liechtenstein. This is 30 years, and it is therefore possible for the customer to recover retrocessions for a much longer period of time. United Kingdom The UK is besides Denmark and The Netherlands the only European country to prohibit inducements completely. UK's Financial Conduct Authority (FCA) introduced this measure to end conflicts of interest, increase transparency and strengthen the professional qualifications of advisors. Who is affected? Investor rights’ specialists claim that anybody who held investments with a Swiss bank, asset management company or trustee under an asset management contract, investment consulting contract or a pure account/depot-relationship (execution only contract) are affected by unlawfully withheld retrocessions and able to demand repayment. There are no official numbers stating the exact number of clients of Swiss banks and asset management companies that are effected by unlawfully withheld retrocessions. According to estimations there are at least 120’000 affected German investors, likely more than 40'000 affected French investors and approximately 40'000 affected Austrian investors Claiming back retrocessions So far, no Swiss bank has published an official guideline on how to claim back unlawfully withheld retrocessions. On the contrary, banks largely ignore the topic, tell their clients that they have no right to assert their claims or even leave requests unanswered. Although the legal situation on retrocessions is clear private investors are almost chanceless when claiming kick-back commissions back from Swiss banks. Therefore, some Swiss service providers such as Liti-Link AG and LEGAFUND have specialized on recovering claims on retrocessions for private and institutional investors before they expire (10 year statute of limitations), without risk and with a high chance of success. References Financial services in Switzerland