FINMA’s revised anti-money laundering rules will take effect in 2027
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On November 11, 2026, FINMA published the partially revised Anti-Money Laundering Ordinance and recognized the Swiss banks’ Code of Conduct with regard to the Exercise of Due Diligence and the rules of the Swiss Insurance Association’s self-regulatory organization as minimum standards. The ordinance amendments clarify the scope of application to correspondent banking relationships with foreign banks and supplement requirements concerning ownership and control structures, sanctions monitoring, and documentation. All three sets of rules are scheduled to take effect on January 1, 2027, with two of the self-regulatory rules providing for a four-month transitional period. It was also reported that the revised Anti-Money Laundering Act covers certain advisory services; FINMA separately explained the scope of application of the relevant circular and the responsibility for supervising advisory work.
AI-written from reports · updated 1 hour ago
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- Fintech News SwitzerlandFINMA amends Anti-Money Laundering Ordinance and two self-regulatory rules, effective in 2027
FINMA has published partial amendments to the Anti-Money Laundering Ordinance and recognized the Swiss Banking Due Diligence Agreement and the Swiss Insurance Association’s self-regulatory organization rules as minimum standards. All three rules will take effect on January 1, 2027. The two self-regulatory rules provide for a four-month transition period; the ordinance amendments clarify the scope of application to correspondent banking services provided by foreign banks and add requirements concerning ownership and control structures, sanctions monitoring, and recordkeeping. The revised Anti-Money Laundering Act covers certain advisory services, and FINMA has separately explained the scope of application of the relevant circular and responsibility for supervising advisory work.
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