Document background
The Trust Letter of Authority is an essential document used in Swiss trust administration and financial services to formally delegate specific powers and responsibilities. This document becomes necessary when trustees need to authorize representatives to act on behalf of the trust for various purposes, such as banking transactions, asset management, or administrative matters. While Switzerland is not a trust law jurisdiction itself, it recognizes foreign trusts under the Hague Convention and has developed comprehensive regulations governing trust-related activities. The Trust Letter of Authority must comply with Swiss banking regulations, anti-money laundering legislation, and financial market supervisory requirements. It typically includes detailed information about the trust, the trustees, the authorized representative, and the specific scope of authority granted. This document is particularly crucial in Switzerland's financial sector, where strict compliance and documentation requirements must be met for trust-related transactions.
