Author Archives: Alexander Greter
Exemptions for Trustee and Portfolio Managers under FinIA
Trustees and portfolio managers are subject to a licensing requirement and prudential supervision following the entry into force of the Financial Institutions Act (FinIA) on 1 January 2020. The scope of activity of specific trustees and portfolio managers may, however, be very limited in scope and the requirements of the FinIA may be disproportionate in the light of its purpose in specific cases. The FinIA and the Financial Institutions Ordinance (FinIO) address these cases to some extent by specific exemptions.
By Alexander Greter (Reference: CapLaw-2020-40)
Anti-Money-Laundering – Implementation of the Revised FATF Recommendations
On December 12, 2014, the Swiss Parliament adopted the Federal Act for Implementing the Revised Financial Action Task Force (FATF) Recommendations. The Federal Act provides new and revised provisions in the field of anti-money laundering, criminal and corporate law. The revisions mainly focus on enhanced transparency on the ownership of legal persons, the clarification and extension of the definition of Politically Exposed Persons (PEP) and, most importantly, the extension of the scope of predicate offences for money laundering to include qualifi ed tax offences.
By Alexander Greter / Nicolas Bonassi (Reference: CapLaw-2015-31)