How is Maclear regulated: SRO membership, PolyReg, and Swiss law explained
06/24/2026
6 min
Maclear AG operates as a regulated financial intermediary under Swiss law. The company is a member of PolyReg SRO — a self-regulatory organization supervised by FINMA — and complies with the Swiss Anti-Money Laundering Act (AMLA), KYC, and GDPR requirements. Maclear is not a bank and is not directly supervised by FINMA. An independent audit by Grant Thornton AG in November 2024 confirmed full regulatory compliance.
What "regulated" means for a crowdlending platform in Switzerland
Switzerland does not currently issue a dedicated crowdlending license. Instead, platforms that intermediate funds between investors and borrowers must register as financial intermediaries under the Swiss Anti-Money Laundering Act (AMLA). To do this legally, a company must join an officially recognized self-regulatory organization (SRO), or apply directly to FINMA for supervision.
Maclear AG chose the SRO path: it is a member of PolyReg Services GmbH, an SRO recognized by FINMA. This membership authorizes Maclear to act as a financial intermediary within Switzerland and from Switzerland to international markets.
SRO membership requires ongoing compliance with AML, KYC, and GDPR standards, regular audits, employee qualification requirements, and adherence to PolyReg's own regulatory rulebook, which itself is approved and overseen by FINMA.
What is SRO membership and what does it mean for Maclear investors?
An SRO — Self-Regulatory Organization — is a body authorized by FINMA to supervise financial intermediaries that operate outside the banking sector. Under Swiss law, any company handling third-party funds in a financial intermediation capacity must be either licensed directly by FINMA or affiliated with an approved SRO.
SRO membership has concrete operational consequences:
Requirement | What it means in practice |
AML compliance | Maclear must screen every investor and transaction against money laundering and terrorism financing rules |
KYC verification | Every investor is identity-verified before accessing any financial functions |
Regular audits | Maclear undergoes independent audits under SRO-approved standards |
Employee qualifications | Staff must meet professional knowledge standards set by PolyReg |
Ongoing monitoring | PolyReg can inspect Maclear's operations at any time |
For investors, SRO membership means that Maclear's operations are not self-declared but externally verified. It also means the platform can legally process investor funds and intermediate loans under Swiss regulatory oversight.
What is PolyReg Services GmbH?
PolyReg Services GmbH is a Swiss self-regulatory organization officially recognized by FINMA under Article 24 of AMLA. It supervises non-banking financial intermediaries, including crowdlending platforms, asset managers, fiduciaries, and payment service providers, and ensures they operate in compliance with Swiss AML law.
You can verify Maclear AG's PolyReg membership directly on the PolyReg registry: polyreg.ch. Maclear has been a member since May 2022.
PolyReg's role in relation to Maclear:
Issues and enforces AML compliance rules that Maclear must follow
Receives and reviews Maclear's compliance reports
Conducts or commissions audits of Maclear's operations
Can sanction or exclude members that fall out of compliance
Reports to FINMA and operates within the framework FINMA defines
PolyReg is analogous — in structure and function — to the European Crowdfunding Service Provider (ECSP) license framework introduced by the EU in 2023, though Swiss regulation has its own specific thresholds and requirements (see below).
Maclear and FINMA: what investors need to know
FINMA is Switzerland's top financial regulator. It directly licenses and supervises banks, insurance companies, and securities firms. It does not directly supervise crowdlending platforms operating under SRO frameworks. Instead, it sets the rules under which SROs like PolyReg operate and holds SROs accountable.
The relationship works like this:
FINMA
└── supervises and approves → PolyReg SRO
└── supervises → Maclear AG
This means FINMA oversight reaches Maclear indirectly — through PolyReg. Maclear is bound by PolyReg's rulebook, which is itself bound by FINMA's regulatory framework.
What this means for investors:
Question | Answer |
Is Maclear a FINMA-licensed bank? | No, Maclear AG operates as a regulated financial intermediary and is a member of PolyReg SRO, supervised by FINMA |
Are my funds covered by Swiss deposit guarantee (esisuisse, up to CHF 100,000)? | No, but Maclear has its own protection mechanisms: Provision Fund, collateralized loans, and a ring-fenced client account separate from Maclear's operational funds |
Is Maclear within FINMA's regulatory perimeter? | Yes — through PolyReg SRO |
Can FINMA act on Maclear? | Yes — indirectly, by instructing or sanctioning PolyReg |
Where are uninvested funds held? | In a ring-fenced client account, segregated from Maclear's operational account |
Can Maclear use my funds for its own purposes? | No, funds are held for safe custody only |
This is the standard structure for European crowdlending platforms. The equivalent in the EU is the ECSP license framework — platforms operating under it are also not deposit-taking institutions and investor funds are not covered by deposit insurance.
Swiss regulatory limitations that apply to Maclear
Under Swiss law, the following operational constraints apply to financial intermediaries in Maclear's category:
Constraint | Detail |
CHF 1 million funding threshold | Applies to total investor funding per project or period under certain structuring rules |
60-day fund holding limit | Investor funds may not remain held in Maclear's bank accounts for more than 60 days; funds must be transferred to the borrower or returned |
Maclear's business model is structured to comply with both constraints. Funds are held only during the fundraising period and transferred to the borrower once the project is fully funded.
The November 2024 Grant Thornton audit
In November 2024, Maclear AG was audited by Grant Thornton AG — an independent Swiss auditing firm operating under FINMA-approved SRO standards. The audit validated Maclear's readiness for crowdlending activities and confirmed strict adherence to Swiss AMLA regulations.
Grant Thornton AG is one of Switzerland's established audit firms and a recognized auditor within the SRO compliance framework. The audit covered Maclear's AML processes, KYC procedures, and operational compliance with PolyReg's rulebook.
Is Maclear the same as a bank?
No. Maclear AG is a financial intermediary, not a bank. It does not accept deposits in the legal sense, does not pay interest on uninvested funds, and is not covered by Swiss bank deposit insurance. Maclear connects investors with borrowers and manages the legal structure of loans. This is the standard model for regulated crowdlending platforms in Switzerland and across the EU.
Does Maclear comply with GDPR?
Yes. Maclear AG complies with the EU General Data Protection Regulation (GDPR) and the Swiss Data Protection Act. Identity verification is handled through Sumsub, a global KYC provider compliant with both frameworks. For full details on data storage and protection, see Article 104.
Can I verify Maclear's regulatory status myself?
Yes. Maclear AG's PolyReg membership is publicly verifiable at polyreg.ch. Maclear AG's Swiss commercial registry entry (UID CHE-115.674.165) is available through zefix.ch, the official Swiss company registry.
Crowdlending involves risk, including the possible loss of capital. Past performance is not a guarantee of future returns. Invest only what you can afford to lose.
Regulatory disclosure: Maclear AG, registered in Switzerland, member of PolyReg SRO, a self-regulatory organization supervised by FINMA.