FOPI ordinance on measures to combat money laundering
The FOPI has issued an ordinance spelling out and defining insurance companies' obligations under the Money Laundering Act. The revised FOPI ordinance on measures to combat money laundering (MLO; Classified Compilation of Federal Law 955.032) entered into force on 1 January 2007.
The self-regulatory organisation shall have one year after this ordinance has come into force to adapt their regualtions accordingly.
This ordinance clarifies the obligations of the insurance companies, defines the framework for self-regulation in the insurance sector, sets out the tasks of the FOPI in the field of money laundering and enumerates the measures at its disposal in fulfilling its mandate. The ordinance is applicable to all insurance companies within the meaning of the Insurance Supervision Act which are active in the field of direct life insurance or which offer or distribute investment fund units. The requirements are framed as minimum standards; the SRO may impose additional or tighter rules.
Notice: This is an informal translation. The translation is provided for information purposes only; it is not and may not be construed as an official document.
FOPI Ordinance on Combating Money Laundering (dated 24 Octobre 2006)
Most recent changes 19.02.2007 | Size: 44 kb | Type: PDF