A licence was granted to R&B Research und Vermögensmanagement GmbH (Commercial Register no. FN 517521k) to act as an investment services provider purusuant to Article 4 WAG 2018 in an administrative decision dated 15 May 2020. Following the legal delivery of the administrative decision on 20 May 2020 it is authorised to provide investment advice on a commercial basis as well as to receive and transmit orders in relation to financial instruments pursuant to Article 1 no. 7 lits. a and c WAG 2018.