Entry into force of the federal law on the implementation of the FATF Recommendations, revised in 2012
Bern, 29.04.2015 – At its meeting today, the Federal Council decided to put into effect in two stages the Federal Law of 12 December 2014 on the implementation of the Financial Action Task Force recommendations, revised in 2012.
On 12 December 2014 the Federal Assembly approved the Federal Law on the implementation of the recommendations of the Financial Action Task Force (FATF), revised in 2012. The referendum deadline expired April 2, 2015, is without a referendum requested. The law will come into force in stages. Indeed, examination of Switzerland which will be conducted in autumn by the Global Forum on Transparency and Exchange of Information for Tax Purposes requires a rapid entry into force of the provisions on transparency concerning legal entities and actions bearer reason these provisions will come into force on 1 July 2015. Other changes in laws, which require either taking enforcement provisions by means of an order or implementation work will come into force later . The entry into force of these amendments to January 1, 2016 must in particular allow financial intermediaries and SROs according to the law on money laundering in good time the necessary preparations for the implementation.
Will take effect on July 1, 2015 changes the following Acts:
Code of Obligations;
Law on Collective Investment and
law on intermediated securities.
Come into effect on 1 January 2016:
changes in the Civil Code concerning ecclesiastical foundations and family foundations;
the provisions concerning prior fiscal offense to money laundering (amendment of the Penal Code and the Federal Law on Administrative Criminal Law);
amendments to the Federal Law on Debt Collection and Bankruptcy regarding the method of payment;
changes to the law on money laundering.
