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Glossary

Anti-Money Laundering Act (AMLA)

Anti-Money Laundering Act (AMLA) is the Swiss federal statute that obliges financial intermediaries, including independent asset managers, to identify contracting parties, establish the identity of beneficial owners, and report suspicious cases to the Money Laundering Reporting Office (MROS) (SR 955.0).

At a glance

  • Wealth managers qualify as financial intermediaries and are fully subject to the AMLA (AMLA Art. 2 para. 2 let. abis).
  • Core obligations: identification of the contracting party, determination of the beneficial owner, documentation and archiving, and the duty to report suspicions.
  • The due diligence duties are set out in Chapter 2 of the AMLA; ongoing supervision of compliance lies with the Supervisory Organisation under FinIA.

Frequently asked questions

Yes. Independent asset managers are financial intermediaries under AMLA Art. 2 para. 2 let. abis and are therefore directly bound by the Anti-Money Laundering Act. FINMA is responsible for supervising the AMLA duties (AMLA Art. 12 let. a) and relies on a Supervisory Organisation under FinIA for ongoing supervision (FinIA Art. 61). An asset manager does not have to join a self-regulatory organisation. That duty applies only to financial intermediaries under AMLA Art. 2 para. 3 (AMLA Art. 14).

Sources: FINMA · Classified Compilation (fedlex)

This entry is for general information purposes only and does not constitute investment, legal or tax advice. It is a simplified summary of the legal position and tax treatment.