Partial revision of AMLO-FINMA: Consultation process until 16 October 2017

On 4 September 2017 FINMA, the Swiss Financial Market Supervisory Authority published and started the consultation process of the draft revised version of the AMLO-FINMA. The draft revised ordinance amends and specifies various duties of the financial intermediaries such as the duties regarding supervision of branch offices and group companies abroad and duties regarding updating and verifying client information. The consultation process will last until 16 October 2017. The revised version of the AMLO-FINMA is expected to enter into force in 2019.