Source: https://finma.ch/FinmaArchiv/bpv/e/themen/00711/00715/index.html?lang=en
Timestamp: 2019-12-14 04:53:07
Document Index: 547952431

Matched Legal Cases: ['Art. 9', 'Art. 19', 'Art. 10', 'Art. 6', 'Art. 15', 'Art. 9', 'Art. 19']

FOPI -Important information
> Important informati...
To the SRO-SIA and financial intermediaries subject to direct supervision by the FOPI
We regularly receive new "Bush lists" which must be brought to the attention of the Self-Regulatory Organization of the Swiss Insurance Association (SRO-SIA) and the financial intermediaries subject to direct FOPI supervision. This is because special measures are called for with regard to the individuals or organizations listed. 79 "Bush lists" have been published to date.
Application of the Bush lists
Processing these lists requires a great deal of time and effort. For the time being, it will not be possible to accomplish this task with the staff at our disposal, particularly in view of the ongoing work on the implementation of future supervisory legislation. We have therefore decided, as in the past, not to prepare or disseminate the lists ourselves, but to refer to the lists published by the Money Laundering Control Authority (Control Authority) on its website via appropriate links. Under the heading "Documentation/Laws and regulations/Sanctions and measures/Implementation of other name lists", the website of the Control Authority also includes the previous "Bush lists", complete with a reference to the associated obligations of financial intermediaries (r.h. link to "Bush lists"). Under the heading "Latest News", the Control Authority website also publishes the information bulletins of the Control Authority (r.h. link to "Information bulletins").
To ensure that they receive regular updates on the appearance of new "Bush lists", we ask the financial intermediaries belonging to the SRO-SIA and those subject to the direct supervision of the FOPI to register their e-mail addresses on the Control Authority website (r.h. link "Mailing List").
In Switzerland, the practice has developed which deals with lists depending on the type of list and differentiating between two types of list:
1. Type 1 lists
These lists contain the names of natural persons and legal entities and groups allegedly having links to Osama bin Laden, the Al Qaida group or the Taliban and are thus submitted to the UN Al-Qaida and Taliban Sanctions Committee to be examined and placed on the list of names of this committee. The table of type 1 published lists can be consulted on the website of the Money Laundering Control Authority (link "type 1 lists" in the right-hand column).
In the case of persons and organisations contained in the type 1 lists, there is a well-founded suspicion within the meaning Art. 9 of the Money Laundering Act (MLA) that the assets involved are linked to money laundering, originate from a felony, or are at the disposal of a criminal organisation.
In connection with type 1 lists, the financial intermediary has the following obligations:
to investigate without delay whether there are contractual relationships with the persons and organisations mentioned on these lists and whether these persons are the beneficial owners of the assets in question;
business relationships of this nature are to be reported to the Money Laundering Reporting Office (MROS) without delay
a separate report should also be made to the State Secretariat for Economic Affairs (seco).
to inform the Federal Office of Private Insurance of the report made (Art. 19, para. 2, Ordinance on Combating Money Laundering) whilst taking account of data protection requirements.
Under no circumstances may the clients concerned be informed that a report has been filed. Their assets must be frozen until the prosecuting authority has issued a ruling, subject to a maximum of five working days after the filing of the report (Art. 10 MLA).
2. Type 2 lists
These lists contain the names of natural persons and legal entities and groups allegedly having links to terrorist activities but are not linked to Osama bin Laden, the Al Qaida group or the Taliban. The table of type 2 published lists can be consulted on the website of the Money Laundering Authority (link "type 2 lists” in the right-hand column).
In connection with lists of this kind, the financial intermediary has the following obligations:
to investigate whether there are contractual relationships with the persons and organisations mentioned on these lists and whether these persons are the beneficial owners of the assets in question;
to subject business relationships of this nature, from the point of view of Art. 6 and 9 of the MLA in connection with Art. 15 ff., Ordinance on Combating Money Laundering, to increased due diligence;
to make a report to the Money Laundering Reporting Office in case, on the basis of an overall analysis of the business relationships, there is a well-founded suspicion within the meaning of Art. 9 of the MLA.
to inform the Federal Office of Private Insurance of the report made (Art. 19, para. 2, Ordinance on Combating Money Laundering), whilst taking account of data protection requirements.
Questions regarding the lists, the obligations of financial intermediaries or the procedures to be followed in connection with the lists should not be addressed to the Control Authority, but to the FOPI as such matters come within the remit of the latter.
Implementation of Federal Council ordinances
As soon as individuals and organizations are added to the Annex to these Federal Council ordinances based on the Embargo Act, the funds and economic resources held or controlled by such natural persons, legal entities or groups will be frozen. It is prohibited to transfer money to such individuals and groups or to directly or indirectly place money or economic resources at their disposal in any other way. Business relationships with such individuals and organizations should be reported to the MROS without delay and an additional report should also be sent to seco. The block must be maintained until such time as the ordinance is amended accordingly.
The Annexes to the individual Federal Council ordinances and their amendments can be accessed on the seco website (r.h. link "Sanctions - seco").
Type 1 Lists
Type 2 Lists
http://www.bpv.admin.ch/themen/00711/00715/index.html?lang=en