News

11 July 2016
Press release

FINMA opens consultation on circular "Acting as a financial intermediary under AMLA"

The Swiss Financial Market Supervisory Authority FINMA has aligned the circular "Acting as a financial intermediary under AMLA" with the new Anti-Money Laundering Ordinance. The partially revised circular will undergo a consultation until 5 September 2016.

FINMA Circular 2011/1 “Acting as a financial intermediary under AMLA” sets out when the professional practice of financial intermediation is subject to the Anti-Money Laundering Act. As of 1 January 2016, the Federal Council repealed the former Ordinance on the Professional Practice of Financial Intermediation and replaced it with the new Anti-Money Laundering Ordinance. This led to subsequent revision of the FINMA circular. The consultation will run until 5 September 2016. 


As the wording of the geographical scope of the new Anti-Money Laundering Ordinance was revised, changes to the circular have been made as relevant. Therefore, financial intermediaries are deemed to operate in or from Switzerland if they reside or are domiciled in Switzerland, have a de facto branch office in Switzerland or engage staff in Switzerland who assist them in carrying out financial intermediation activities. Moreover, the FINMA circular has also undergone some editorial changes. For instance, as the term “financial intermediation” has been replaced with “acting as a financial intermediary” in the new Anti-Money Laundering Ordinance, the circular required appropriate adjustment. Both the consultation and the explanatory report limit their focus to the substantive change linked to the geographical scope of the new ordinance.

Contact

Tobias Lux, Media Spokesperson, Phone +41 (0)31 327 91 71, tobias.lux@finma.ch

Press release

FINMA opens consultation on circular "Acting as a financial intermediary under AMLA"

Updated: 08.07.2016 Size: 0,23  MB
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Entwurf: FINMA-Rundschreiben 2011/01 „Tätigkeit als Finanzintermediär nach GwG“

Teilrevision des Rundschreibens 2011/1 „Finanzintermediation nach GwG“

Updated: 11.07.2016 Size: 0,37  MB
  • Language(s):
  • DE
  • FR
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Erläuterungsbericht

FINMA-Rundschreiben 2011/1 „Tätigkeit als Finanzintermediär nach GwG“ – Teilrevision zum räumlichen Geltungsbereich

Updated: 11.07.2016 Size: 0,27  MB
  • Language(s):
  • DE
  • FR
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Key points

FINMA Circular 2011/1 "Acting as a financial intermediary under AMLA": partial revision of its geographical scope

Updated: 11.07.2016 Size: 0,05  MB
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Information relevant to the consultation

Partially revised circular 2011/1 on financial intermediation under AMLA

Updated: 11.07.2016 Size: 0,01  MB
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