FINMA

EBA Outsourcing Guidelines: Swiss banks also affected

The revised FINMA circular 2018/3 “Outsourcing - Banks” has now been in effect for nearly a year. Experience has shown that institutions are having a hard time particularly with the risk-oriented monitoring of their outsourcing providers (including any sub-contractors these may have hired).

Five building blocks to mitigating risk with an effective ICS

It’s been nearly nine months since the deadline to implement FINMA’s Circular 2017/1 “Corporate Governance – Banks”. And the odds are that you still have doubts about the effectiveness of the Internal Control System (ICS).

Federal Council opens the consultation on the implementing ordinances of the new FinSa and FinIa

On 24 October 2018, the Swiss Federal Council began the consultation for the 3 implementing ordinances to the Financial Services Act and the Financial Institutions Act. The consultation period will last until 6 February 2019; the ordinances and the two laws will enter into force on 1 January 2020.
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Money laundering: high risk countries also in Europe

The Financial Action Task Force is constantly updating its country risk assessment. Whilst the list of high-risk jurisdictions include the usual suspects, there is surprisingly one European country on the list, making this is another challenge to be tackled by financial intermediaries.
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Eine neue Sicht auf Schweizer Direktversicherer

Erstmalig wurden dieses Jahr «Berichte über die Finanzlage» der Schweizer Versicherer veröffentlicht, die spannende Einblicke in das Kapitalmanagement, die Governance, sowie die Risiken und Solvabilität einer ganzen Branche gewährt.

Bases révisées concernant l’identification par vidéo et en ligne

Deux ans après son introduction, la FINMA a partiellement révisé la circulaire «Identification par vidéo et en ligne». Les obligations de diligence lors de la conclusion de relations d’affaires par voie numérique ont ainsi été adaptées.