Публикации

2021-05-24

The Swiss Financial Market Supervisory Authority FINMA is updating the procedure of the online identification using the NFC verification by scanning the chip embedded in biometric identity documents.

2021-04-07

The publishing of this case report confirms FINMA's accountability obligations regarding its enforcement activities. The case report includes anonymized and generalized cases which were concluded with a court decision.

2021-04-06

Bern, April 04, 2021 – The Swiss Institute of Intellectual Property (IPI) took an active role in 280 cases of “Swissness” excessive use in 2020. The IPI controls the use of the Swiss national emblem and destroys such goods during the customs examination. Now private and high officials start working together to control the “Swissness” fare dodger abroad.

2020-12-15

The Swiss Financial Market Supervisory Authority FINMA recommends that the supervised parties affected by the LIBOR replacement sign the new Fallback Protocol of the International Swaps and Derivatives Association (ISDA) in the shortest time possible.

2020-11-20

The Swiss Financial Market Supervisory Authority FINMA recommends that the supervised parties affected by the LIBOR replacement sign the new Fallback Protocol of the International Swaps and Derivatives Association (ISDA) in the shortest time possible.

2020-10-16

The Swiss Financial Market Supervisory Authority FINMA recommends that the supervised parties affected by the LIBOR replacement sign the new Fallback Protocol of the International Swaps and Derivatives Association (ISDA) in the shortest time possible.

2020-10-08

FINMA completed the proceeding against Banca Credinvest was opened 2018 after the bank was suspected of corruption connected with the Venezuelan clients. The corresponding measures were introduced by FINMA.

2020-10-01

The Swiss Financial Market Supervisory Authority FINMA admitted FINcontrol Suisse AG as the fourth supervisory organization. Previously FINMA has authorized FinIA and FinSA as supervisory bodies.

2020-09-24

On 24 September, Switzerland proposed the World Customs Organization (WCO) an amendment to the international customs duty classification for gold to improve transparency and traceability in the gold trade. Switzerland will implement the amendment for gold imports into Switzerland from 1 January 2021.

2020-09-21

ARIF was approved by FINMA as a registration authority for client advisers, it was licensed as the second registration body in consonance with FinSa.

2020-09-04

The Swiss Financial Market Supervisory Authority FINMA opened law proceedings against Credit Suisse in the context of its observation activities.

2020-08-20

After the look back study of the “Direct transmission” Circular in 2019, FINMA is providing a consultation regarding the partial revision of the Circular until 15.10.2020.

2020-08-12

FINMA vested SO-FIT with authority of a supervisory organization. It will be the third supervisory organization in accordance with the Financial Institutions Act (FinIA) and the Financial Services Act (FinSA).

2020-08-07

Innovative companies are now being promoted and supported with cantonal and communal taxes with the introduction of a new tax instrument – special tax box.

2020-07-30

Despite the great number of ambiguities and risks regarding the influence of the coronavirus pandemic on the global economy, the Swiss bank has shown its best second quarter results for the last ten years.

2020-07-23

Financial intermediaries must adhere to strict due diligence and reporting requirements. Both the Swiss Financial Market Supervisory Authority FINMA and the self-regulatory organizations have the aim of preventing money laundering

2020-07-21

On 9 July 2020, the first cyber dialogue between Switzerland and the USA took place in Bern. Both countries seek to open a digital space.

2020-07-14

Income tax reform is needed. Its concept is out of day. It is slowing down the development of the Swiss capital market. Based on the consultation of the Federal Council, the SBA proposes a goal-oriented concept.

2020-07-10

FINMA has countenanced OSIF and OSFIN the first licenses as supervisory organizations which have responsibility for inspection of asset managers and trustees.

2020-07-07

On the plenary sitting on 30th June the FATF has update the statements connected the high-risk jurisdictions and jurisdictions under increased monitoring.

2020-07-03

On 30.06.2020 in Bern Swiss Finance Minister Ueli Maurer and his UK colleague Rishi Sunak signed a joint statement on further cooperation between their countries relating the financial services in a virtual meeting.

2020-06-30

According to the Swiss government special rules will be used in the sustainable finance sphere in case, if banks do not cope with policing their activities in a proper manner. The hands-off regulation of social investing was approved by financial players but criticized by NGOs.

2020-06-26

The Swiss Financial Market Supervisory Authority FINMA in frame of its supervisory remit is dealing with a problem of financial risks dependent on the climate and is looking for new regulatory methods for improving financial transparency by banking institutions.

2020-06-23

On the session of Federal Council on 19 June 2020, the report regarding the amendments connected with blockchain to the tax law was taken into consideration. It was decided that no special amendments are necessary.

2020-06-24

The Banking Act governs only the main features of the restructuring procedure for banks. Federal Council is proposing to amend the Intermediated Securities Act.

2020-06-23

The Swiss National Bank has joined other major central banks in reducing the frequency of its dollar swap operations from July 1, 2020.

2020-06-19

After less as a year in a position of anti-money laundering and terrorism funding chief Daniel Thelesklaf has vacated his office. The first information about a quitting of Swiss anti-terror financing head has appeared on June 17th on Heidi News portal.

2020-06-18

Crowdfunding platform providers and project developers should verify whether they require a licence from FINMA before providing such activities.

2020-06-17

The Expert Group is affirming their prior assessment and awaiting the sharpest fall in GDP in decades for 2020. The low rate is predicted to be reached in the second quarter.

2020-06-11

It is known that Switzerland is a pioneer of sustainable finance and is planning to become a premier international hub in this field. This initiative is supported by the SBA, which in its turn has made sustainable investment a top priority.

2020-06-09

It is prescribed that Swiss producers very soon will have the opportunity to register geographical indications in different states all at once using a simple process.

2020-06-05

Here are ten tips that may help investors and individuals protect themselves against unscrupulous providers.

2020-06-04

FINMA's task is the protection of creditors, investors and policyholders and ensuring that the financial markets function properly.

2020-05-28

The Swiss Financial Market Supervisory Authority FINMA is giving BX Swiss AG and SIX Exchange Regulation AG licenses to be the reviewing bodies for prospectuses. This process will start on 1 June 2020.

2020-05-26

Due to the pandemic situation and other challenges countries face today, the financial and related professional services (FRPS) industry is now in need of deepening cross-border cooperation.

2020-05-20

On May 19, FINMA published further Guidance 06/2020 providing some changes to the exemptions implied to the phases and clarified how the net stable funding ratio (NSFR) is calculated.

2020-05-08

On 7th May, FINMA published Guidance 05/2020: duty to report cyber attacks pursuant to Art. 29 para. 2 FINMASA.

2020-05-05

The Federal Council in November 2019 introduced a net stable funding ratio (NSFR) for banks by mid-2021 and is to make the appropriate adjustments to the Liquidity Ordinance as well as the changes to FINMA's supervisory practice set out in Circular 2015/2 "Liquidity risks – banks".

2020-04-17

On 15th of April, the Swiss Financial Market Supervisory Authority FINMA presented the press release regarding Libra Association: FINMA licensing process initiated.

2020-04-14

On 27 March, Swiss Bankers Association (SBA) has launched new audio project in form of podcast. It is called «The Voices of Financial Centre».

2020-04-09

The Federal Council has offered changes related to income tax. The initiative provides for exemption from tax on interest-bearing investments. Resident legal entities suppose to apply these changes. Foreign investors will also receive benefits. The suggestions of the Federal Council aimed at encouraging corporations to issue bonds in Switzerland.

2020-03-09

Due to results of the second round of expert checks of clarity and information interchange in taxation the Global forum has noted that Switzerland achieved significant progress, for example, about the bearer shares and the practical implementation of the exchange of information, and provided some recommendations.

2020-04-05

FINMA has put out the 2019 Annual Report together with the financial statement. The Report gives an overview of FINMA's activities and developments during the last year.

2020-03-26

In 2022, Innosuisse submitted over 800 applications for innovative projects. This is 65% more than in the previous year. The company's innovative board approved 404 (in 2018 - 239). The company also conducted 400 innovative audits (a year earlier - 308).

2020-03-20

FINMA believes that the country's financial institutions and related infrastructure as a whole have been prepared to work in a pandemic. The regulator carries out activities in close contact with controlled institutions, the SNB and the federal finance department.

2020-03-18

At an extraordinary meeting of the Federal Council on March 16, 2020, an emergency situation in the country was confirmed. Measures for the protection of the population from the rapidly spreading coronavirus are provided by the Epidemic Act.

2020-03-12

In 2019, Swissmedic (the Swiss Agency for Therapeutic Products), working together with the Federal Customs Administration of Switzerland (FCA), carried out twice as many seizures of illegally imported drugs - 7,781.

2020-03-01

The Swiss Federal Institute of Intellectual Property (IPI) in 2019 reviewed more than 17,000 trademark applications. Today, there are more than 500,000 trademarks and 130,000 patents in the country. There has been an increase in the number of patent applications, while the number of design applications has stable position.

2020-02-17

More than 100 states, including Switzerland, accepted obligations to comply with the standard. AEOI does not affect the privacy of domestic customers of Swiss banks.

2020-01-20

The company with the 'fintech license', or so-called 'banking license light' in Switzerland is the best option for the innovative startups and entrepreneurs willing to benefit from the reliability and prestige of Swiss financial sector environment.

2019-05-22

The taxation of the limited liability companies (SARLs) and corporations (SAs) in Switzerland. This companies pay tax based on the profits they generate annually.

2019-12-10

The Swiss Financial Market Supervisory Authority FINMA published a risk monitor 2019. The FINMA used the report to identify the most important risks faced by the institutions it controls. And also to indicate problems that are in the focus of supervisory activities.

2019-05-20

Brexit impacts the trade relations with Switzerland. The Swiss Federal Council needs to negotiate new bilateral agreements with the United Kingdom; separate from the ones with the European Union.

2019-05-05

May 19th marks a big day for Switzerland. It is the day that the country will decide on the tax and gun reforms by use of a national vote. Polls have been conducted to try and establish if the reforms would pass or fail.

2019-05-14

Swissness is highly misused. It is popular both within the Swiss borders and internationally. People and cooperatives use the Swiss coat of arms, the Swiss Cross and the Made in Switzerland label to free ride on the premium reputation of Switzerland.

2019-05-14

In 2018, the Federal Customs Administration of Switzerland confiscated 3,203 loads of medicinal products in the Swiss borders. The owners of these products were shipping them illegally. In 2017, 1,060 shipments were confiscated.

2019-03-15

The Federal Council has adjusted the provisions concerning the sandbox though these changes require a corresponding adjustment of FINMA’s supervisory practice. Sandbox provision is the main federal concern.

2019-03-08

The Banking Act serves only as the major feature of the restructuring approach regulator for Swiss Banks. More information is available in the FINMA Banking Insolvency Ordinance.

2019-03-05

The Swiss National Bank (SNB) counters in Berne and Zurich and the SNB agencies situated at the head offices of 14 cantonal banks, proposed the release of the new 1000-Franc note. Consequent upon its release, the Commercial banks, and Swiss Post will begin to circulate the new banknotes.

2019-02-18

The Federal Council, on 27 February 2019, took the initiative and introduced consultations on the amendments of the Federal Act and Ordinance on the International Automatic Exchange of Information in Tax Matters (AEOI).

2019-02-18

In lieu of this, a referendum based on the Federal Act on Tax Reform and AHV Financing (TRAF) is scheduled to hold on 19 May 2019. During a joint press conference held three months ago, President Ueli Maurer and the Federal Councilor Alain Berset stated that the acceptance of the proposal was based on the prospect of securing jobs, the AHV, as well as tax receipts.

2019-02-15

The Swiss National Bank (SNB) counters in Berne and Zurich and the SNB agencies situated at the head offices of 14 cantonal banks, proposed the release of the new 1000-Franc note. Consequent upon its release, the Commercial banks, and Swiss Post will begin to circulate the new banknotes.

2018-12-10

Fintech regulation in Switzerland for the start-ups and existing companies. Legal requirements for the Fintech companies in Switzerland and the regulation of the financial markets.

2018-10-15

Acquisition of the Real Estate and all related questions regarding legislation, purchasing procedures etc. in Switzerland

2018-04-24

In an effort to maintain the status of Switzerland as a cryptocurrency mecca, the Swiss Bankers Association (SBA) issued guidelines, which aims to foster the cryptocurrency startups and prevent them from moving abroad for banking services.

2018-04-16

On March 16, the Swiss Parliament approved a revision of the Federal Act on Private International Law, modifying the rules on international insolvency.

2018-04-10

The FINMA Circular 2016/17. Amendments to the circular. Three randomly selected visual security features on the identification documents.

2018-04-02

Following a growing interest in cryptocurrencies, on February 16th the Swiss Financial Market Supervisory Authority (FINMA) published a series of guidelines on Initial Coin Offerings (ICOs).

2018-03-18

On March 13, the Swiss Council of States has published its overview of the Financial Services Act Bill (FIDLEG) and Financial Institutions Act bill (FINIG).

2018-03-07

On March 4th, the right of the Federal Government to collect taxes until 2035 had been confirmed by Swiss voters, with an appalling majority.

2018-02-26

The end of the bearer shares in Switzerland. Swiss Federal Council published a draft bill to convert all bearer shares into registered shares in Switzerland

2018-02-17

FINMA issues guidelines on ICOs. Following a sharp increase in the number of initial coin offerings (ICOs) taking place in Switzerland, yesterday the Swiss Financial Market Supervisory Authority (FINMA) published a series of guidelines that integrate the FINMA Guidance 04/2017, issued earlier last year.

2018-02-15

The Swiss Value Added Tax (VAT) rate has been reduced since January 1, 2018.

2018-02-07

Last September the Federal Council has announced a public consultation on the tax proposal 2017 (TP17). The deadline for submitting comments to the consultation was December 6, 2017.

2018-01-25

A blockchain and ICO working group has been formed by the (SIF) State Secretariat for International Financial Matters specifically tasked to overlook the legality and operational framework of ICO and blockchain in regards to their involvement with the Federal Office of Justice, the Swiss Financial Market Supervisory Authority and other businesses and industry sectors which may be involved with blockchain and ICO’s.

2018-01-23

Beginning on April 1, 2018, FINMA (The Swiss Financial Market Supervisory Authority) will begin enforcing a number of new regulations on Banks and Insurance companies.

2017-11-06

As of 2 November 2017, fees can be paid at the Zug Commercial Registry Office (Switzerland) with the cryptocurrencies Bitcoin and Ether.

2017-10-31

The British HM Revenue and Customs (HMRC) has published draft guidance on penalties for enablers of defeated tax avoidance.

2017-10-18

On 18 October 2017, the Swiss Federal Council passed the partially revised Value Added Tax Regulation (hereinafter “VAT Regulation”). It contains adaptations to the partially revised VAT Act (hereinafter “VAT Act”) and other point-to-point changes. Both documents will enter into force on 1 January 2018 with the exception of the provisions on mail order trading.

2017-10-12

On Friday, 6 October 2017, a declaration on eGovernment jointly drawn up by the EU and EFTA in the context of the Ministerial eGovernment Conference in Estonia was signed by the Swiss Federal Councillor.

2017-10-07

The Swiss city of Zug was the first state authority worldwide to accept bitcoin as a legal tender. Since July 2016, it has been possible to pay fees of the residents’ registration office of up to 200.00 francs with bitcoins.

2017-09-29

On 29 September 2017, the Swiss Federal Council commenced a consultation on revising the Regulation on the Working Hours Law. The Law governing employment relations in public transport companies was passed by the Parliament in the summer of 2016.

2017-09-25

On 21 September 2017, the Swiss Federal Department of Finance (FDF) submitted the total revision of the Withholding Tax Ordinance for consultation. The ordinance specifies the prerequisites for non-residents to be entitled to subsequent ordinary tax assessment.

2017-09-20

Revision of the Swiss alcohol legislation. On 15 September 2017, the Swiss Federal Council passed the revised Alcohol Ordinance. It will enter into force on 1 January 2018, together with the Alcohol Law revised in autumn 2016.

2017-09-12

On 6 September 2017, the Swiss Federal Council initiated the consultation on the new tax proposal 17 (TP17), which is supposed to be a significant contribution to having an appealing location and thus to added value, jobs and tax receipts. Also, the reform will be in line with international requirements concerning corporate tax law.

2017-09-12

As reported by the Swiss Federal Council, the additional agreement amending the double taxation agreement (DTA) between Switzerland and Belgium in the area of taxes on income and on capital came into effect.

2017-06-20

On 1 August 2017, an amendment to the Banking Ordinance (BO) adopted by the Swiss Federal Council on 5 July 2017 entered into force.

2017-07-05

Late in June 2017, the Swiss Federal Council approved the draft bill for a federal act on the processing of personal data by the Federal Department of Foreign Affairs (FDFA).

2017-06-26

Early in June 2017 the Swiss Federal Council initiated the consultation on the proposed Federal Act (hereinafter – the Act) on the Calculation of the Participation Deduction for Too-Big-to-Fail (TBTF) Instruments.

2017-06-20

On 2 June 2017, the Swiss Federal Council decided that the partially revised Value Added Tax Act adopted by the Swiss Parliament would come into force on 1 January 2018. The revised Value Added Tax Act will help remove VAT-related competitive disadvantages for domestic companies.

2017-06-20

On 7 June 2017 Switzerland signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting.

2017-04-10

On 31 March 2017 the Dutch government published the bill on implementing the 4th Anti-Money Laundering Directive. One of the obligations under the 4th Directive is to introduce a central register that would contain information on beneficiary owners in all EU countries.

2017-02-17

On 2 June 2017, the Swiss Federal Council decided that the partially revised Value Added Tax Act would come into force on 1 January 2018. The revised Value Added Tax Act will help remove VAT-related competitive disadvantages for domestic companies.

2017-02-17

On 15 February 2017, the Swiss Federal Council approved Switzerland’s continued participation in the IMF’s New Arrangements to Borrow (NAB).

2017-02-06

On 2 February 2017, the Federal Department of Finance (FDF) initiated a consultation (to last until 13 April 2017) on the automatic exchange of tax information (AEOI) to be introduced with additional countries. The AEOI should be introduced on 1 January 2018, with the first exchange of information to take place in 2019.

2017-02-06

On 1 February 2017, the Federal Council of Switzerland initiated a consultation (to last until 8 May 2017) on amendments to the Banking Act and Banking Ordinance in the fintech area. Their purpose is to reduce barriers to market entry for fintech firms and to enhance competitiveness of the Swiss financial centre.

2017-02-06

Early this year the Swiss Federal Council released the Foreign Economic Policy Report 2016 highlighting the forthcoming challenges for Swiss foreign economic policy.

2017-01-31

The Swiss Government and the U.S. Department of Commerce announced their agreement on Swiss-U.S. Privacy Shield framework (the “Swiss Privacy Shield”), a new transatlantic personal data framework that aimed to establish comparable protections for data transferred or accessed by the U.S. as those secured by the European Union under the European Union (EU)-U.S. Privacy Shield framework.

2017-01-10

Switzerland and Canada are to start providing administrative assistance to each other in relation to taxation periods beginning on or after January 1, 2017 under the Agreement entered into under the Convention on Mutual Administrative Assistance in Tax Matters (as amended by the 2010 Protocol).

2017-01-05

The tax information exchange agreements (TIEAs) signed by Switzerland with Belize and Grenada in 2015 and put into effect in 2016 apply from January 01, 2017. TIEAs are intended to establish the rules for exchanging information concerning tax matters at a contracting party’s request.