Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 16. Dezember 2022 über Massnahmen betreffend Haiti (SR 946.231.139.4) publiziert.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung über Massnahmen betreffend Guatemala (SR 946.231.137.6) publiziert.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs 2 der Verordnung vom 22. Juni 2005 über Massnahmen gegenüber der Demokratischen Republik Kongo (SR 946.231.12) publiziert.
AI Analysis
The Swiss Federal Department for Economic Affairs, Education and Research (WBF) updated Annex 2 of the Ordinance on Measures against the Democratic Republic of Congo (SR 946.231.12) on January 12, 2026, modifying the list of sanctioned persons, companies, and organizations, with changes effective January 13, 2026, at 23:00 UTC. This matters for Swiss financial intermediaries as it triggers immediate asset freezing, reporting to SECO, and potential AML checks under the Anti-Money Laundering Act (GwG), ensuring compliance with Switzerland's implementation of international sanctions via the Embargo Act (EmbG).
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What Changed
Amendment to Annex 2 of SR 946.231.12, updating the list of sanctioned individuals, entities, and organizations subject to financial restrictions.
Integration into the SECO Sanctions Management (SESAM) database, with urgent publication on the SECO website.
Reinforcement of prohibitions: asset freezing, ban on making funds available, and reporting of affected business relationships to SECO; does not exempt from GwG Art. 6 due diligence or Art. 9 suspicious activity reports.
These align with ongoi
What You Need To Do
Screen client portfolios and transactions against the updated SESAM database immediately upon effectiveness
Freeze assets of newly listed sanctioned parties and prohibit making funds/resources available
Report affected business relationships to SECO without delay
Conduct GwG Art
Monitor MyFINMA for FINMA alerts and update internal sanctions screening tools
Key Dates
January 12, 2026- WBF publishes amendment to Annex 2.
January 13, 2026, 23:00 UTC- Changes enter into force; immediate implementation required.DEADLINE
December 12, 2026- Related EU sanctions extended to this date (Swiss alignment expected).
Compliance Impact
Urgency: High - Immediate effect from January 13, 2026, 23:00 UTC demands rapid screening and freezing to avoid EmbG violations, which can trigger FINMA enforcement (e.g., fines, license actions). Matters due to sanctions lists' frequent updates (e.g., prior May 2024 change) and overlap with AML obl
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat Änderungen des Anhangs 1 der Verordnung vom 28. März 2018 über Massnahmen gegenüber Venezuela (SR 946.231.178.5) publiziert.
AI Analysis
On January 13, 2026, Switzerland's State Secretariat for Economic Affairs (SECO) updated Annex 1 of the Ordinance on Measures against Venezuela (SR 946.231.178.5), reflecting changes to the list of designated persons and entities subject to Swiss asset freezing measures. This update is critical for Swiss financial institutions and regulated entities as it directly impacts sanctions compliance obligations and requires immediate verification of client and counterparty lists against the revised designations.
What Changed
The regulatory update modifies the designated persons list under Switzerland's unilateral freezing measures against Venezuela. While the search results reference a separate FINMA ordinance (RS 196.127.85) adopted on January 5, 2026, which froze assets of 37 persons in the context of Venezuela, the January 13 update to SR 946.231.178.5 represents an amendment to Switzerland's broader sanctions ordinance framework. The specific changes to Annex 1 require Swiss entities to:
Update their sanctions
What You Need To Do
*Immediate Screening
*Asset Identification
*Freeze Implementation
*Notification
*Transaction Review
Key Dates
January 5, 2026- FINMA ordinance on asset freezing (RS 196.127.85) enters into force at 11 a.m., freezing assets of 37 designated persons
January 13, 2026- SECO publishes updated Annex 1 to SR 946.231.178.5 (the update referenced in your query)
Immediate- Compliance obligations commence upon publication; no grace period for implementationDEADLINE
The Swiss Federal Council adopted a new ordinance (RS 196.127.85) on 5 January 2026, mandating the immediate freezing of all assets in Switzerland belonging to Nicolás Maduro and 36 associated persons, under the Federal Act on the Freezing and Restitution of Illicit Assets held by Foreign Politically Exposed Persons (FIAA). This precautionary measure prevents asset outflows amid Venezuela's political upheaval, complementing existing sanctions since 2018, and enables future mutual legal assistance for potential restitution to the Venezuelan people. It matters for Swiss financial institutions as it imposes immediate reporting and freezing obligations with severe penalties for non-compliance.
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What Changed
Immediate asset freeze: All assets of any kind held by the 37 listed persons (Nicolás Maduro and associates) in Switzerland must be frozen without delay; this targets individuals not previously sanctioned under the Embargo Act.
Reporting obligation: Persons and institutions, including financial intermediaries, must report frozen assets or knowledge thereof to the Money Laundering Reporting Office Switzerland (MROS) per FIAA provisions.
Duration: The freeze is valid for four years until 4 January
What You Need To Do
Screen and identify
Freeze assets
Report to MROS
Internal updates
Document compliance
Key Dates
5 January 2026, 11 a.m.Ordinance enters into force; immediate asset freezing and reporting required.DEADLINE
4 January 2030Asset freeze expires after four years, unless extended or revoked.
5 January 2026.
Compliance Impact
Urgency: Critical. This demands immediate action as the freeze took effect on 5 January 2026 at 11 a.m., with custodial penalties up to three years for failures; given today's date (25 January 2026), firms must confirm compliance now to avoid fines up to CHF 250,000 or enforcement. It heightens AML/
On 16 December 2025, the Swiss Financial Market Supervisory Authority FINMA launched the consultation on the partially revised Circular 2016/7 “Video and online identification”. The consultation will go on until 27 February 2026.
Der Bundesrat hat die Sanktionslisten betreffend Russland und Belarus am 12. Dezember 2025 ausgeweitet. Die Schweiz übernimmt damit diverse Änderungen, welche die EU im Rahmen ihres 19. Sanktionspakets beschlossen hat.
AI Analysis
The Swiss Federal Council expanded sanctions lists against Russia and Belarus on December 12, 2025, adopting changes from the EU's 19th sanctions package to align Swiss measures with EU restrictions. This matters for Swiss financial institutions as it imposes immediate asset freezes, transaction bans, and reporting obligations on newly listed entities, strengthening efforts to counter Russia's military-industrial complex and shadow oil fleet while preventing sanctions evasion.
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What Changed
Asset freezes and prohibitions: 22 natural persons and 42 companies/organizations added to asset freeze and prohibition on making funds/assets available lists.
Shipping restrictions: 116 new vessels (primarily Russian shadow fleet tankers evading oil price caps) subjected to comprehensive purchase, sale, and service bans.
Export controls: 45 new companies (including in third countries) under stricter export controls to block deliveries of critical goods to Russia's military-industrial sector.
Fi
What You Need To Do
Immediate screening
Asset freezing
Transaction halts
Ongoing monitoring
Key Dates
13 December 2025- Measures enter into force; immediate implementation required.DEADLINE
29 October 2025- Prior expansion decision (related 18th EU package adoption).
30 October 2025- Entry into force of October measures (export restrictions, RDIF transaction bans).
31 December 2025- Extension of certain derogations (e.g., Russia investment withdrawals).
Compliance Impact
Urgency: Critical - Effective immediately (13 Dec 2025), with no grace period for asset freezes/transaction bans, exposing non-compliant firms to severe penalties amid FINMA's active enforcement on sanctions (type: enforcement). This escalates existing Russia/Belarus regimes, targeting evasion vecto
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung des Anhangs der Verordnung vom 7. August 1990 über Wirtschaftsmassnahmen gegenüber der Republik Irak (SR 946.206) publiziert.
AI Analysis
This FINMA publication announces a SECO update to the annex of the Ordinance on Economic Measures against the Republic of Iraq (SR 946.206), reflecting UN Sanctions Committee amendments to the list of sanctioned individuals, companies, and organizations made on December 9, 2025. It matters because these changes are directly applicable in Switzerland, requiring financial intermediaries to immediately block affected assets and report business relationships to SECO to ensure compliance with UN sanctions. Failure to act risks enforcement by FINMA under its supervisory mandate.
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What Changed
The UN Sanctions Committee modified the sanctions list targeting persons, companies, and organizations related to Iraq on December 9, 2025; this amendment was published by SECO on its website and integrated into the SESAM sanctions database on December 10, 2025.
Switzerland automatically applies UN sanctions lists without delay per the Federal Council's Ordinance of March 4, 2016, making the update immediately binding.
Financial intermediaries must implement prohibitions, freeze assets of newly
What You Need To Do
Screen against SESAM database
Asset freeze
Report to SECO
Internal review
Document compliance
Key Dates
December 9, 2025- UN Sanctions Committee decision amending the Iraq sanctions list.
December 10, 2025- SECO publishes update on its website and updates SESAM database; changes enter into force immediately in Switzerland.
Immediate (as of December 10, 2025)- Financial intermediaries must block assets and report to SECO without delay, per automatic application of UN sanctions.DEADLINE
Compliance Impact
Urgency: High - Automatic and immediate effect heightens breach risk, with FINMA enforcement powers including fines, reputational damage, or license revocation for non-compliance. It matters due to Switzerland's direct implementation of UN sanctions, amplifying AML/financial crime exposure amid ongo
The Board of Directors of the Swiss Financial Market Supervisory Authority FINMA has extended Beat Fellmann’s term of office by one year until the end of 2026.
The Swiss Financial Market Supervisory Authority FINMA is today publishing its ex-post evaluation report on the requirements for interest rate risk management in the banking book. The evaluation has shown that the supervisory practice has essentially been successful and that the objectives have been achieved. Specific improvements will be made as part of a partial revision of Circular 2019/2, which is planned from 2026. The interest rate shock scenarios updated by the Basel Committee on Banki...
The Federal Council has appointed Katia Villard to the Board of Directors of the Swiss Financial Market Supervisory Authority FINMA. A professor of criminal law, Ms Villard will succeed Ursula Cassani Bossy who is stepping down from FINMA's Board of Directors at the end of the year.
In its new 2025 Risk Monitor, FINMA reveals where it sees the greatest risks for the Swiss financial centre. It warns of an increase in geopolitical and technological risks and calls for more robust controls over the outsourcing of critical functions. The climate risk report is also part of the Risk Monitor for the first time.
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 16. Dezember 2022 über Massnahmen betreffend Haiti publiziert.
AI Analysis
The Swiss Federal Department of Economic Affairs, Education and Research (WBF, under which SECO operates) has published an update to the Annex of the Ordinance of 16 December 2022 on measures concerning Haiti, reflecting UN Security Council amendments to the sanctions list. This matters for Swiss financial institutions as it triggers immediate asset freeze checks and reporting obligations to ensure compliance with Switzerland's implementation of UN sanctions via FINMA and SECO oversight, avoiding enforcement risks amid Haiti's ongoing instability. The update aligns with global renewals of Haiti sanctions, emphasizing asset freezes on newly designated individuals and entities involved in destabilizing activities.
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What Changed
Amendment to the Annex of the Verordnung vom 16. Dezember 2022 über Massnahmen betreffend Haiti, incorporating UN Security Council updates to the sanctions list, likely adding individuals, companies, or organizations subject to asset freezes, travel bans, and arms embargo expansions.
Reflects broader UN measures, including renewal of travel bans, asset freezes, and arms embargoes; expansion of arms embargo scope to military goods, technology, technical assistance, financial services, and brokeri
What You Need To Do
Screening and Freezing
Ongoing Monitoring
Licensing Checks
Documentation
Key Dates
Immediate (publication date: 21 October 2025)- Swiss firms must check accounts, freeze assets or economic resources of newly listed persons without prior notice, and report to SECO/FINMA without delay.DEADLINE
18 October 2024- UN Security Council Resolution 2752 adopted, expanding arms embargo (basis for Swiss/UK updates).
17-20 October 2025- UNSC renews regime for one year, adds 2 entries to sanctions list (UK/Jersey notices align with Swiss publication).
23 July 2025- UK Haiti Sanctions Amendment Regulations enter force, reflecting similar UN changes.
20 March 2025- Canadian amendments add 3 individuals (related context).
Compliance Impact
Urgency: High - Immediate asset freeze and reporting requirements carry criminal penalties for non-compliance (e.g., aligned with UK fines up to updated monetary levels); failure risks FINMA enforcement, reputational damage, and misalignment with UN obligations amid Haiti's volatile security. Matter
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 24. Juni 2020 über Massnahmen gegenüber Nicaragua (SR 946.231.158.5) publiziert.
AI Analysis
The Swiss Federal Department of Economic Affairs, Education and Research (WBF/EAER) amended the annex of the Ordinance on Measures against Nicaragua (SR 946.231.158.5) on 20 October 2025, modifying entries for two individuals, with measures entering into force immediately thereafter. This update requires Swiss financial intermediaries to promptly screen and adjust sanctions compliance programs to reflect the revised designations, ensuring no prohibited dealings with the updated list. It matters because failure to implement could trigger FINMA enforcement, asset blocking obligations, and reporting requirements under Switzerland's Embargo Act (EmbG).
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What Changed
Modification of entries for two individuals in the annex of the Ordinance on Measures against Nicaragua (SR 946.231.158.5), likely involving updates to personal details, aliases, or sanction rationales.
These changes align with ongoing maintenance of the sanctions list, originally imposed in June 2020 due to human rights, democracy, and rule-of-law concerns in Nicaragua, mirroring EU measures from 2019-2020.
No broader structural changes to the ordinance itself; this is a targeted annex update,
What You Need To Do
Immediate screening
Block and report
Update compliance systems
Monitor ongoing
Document implementation to demonstrate due diligence in case of FINMA audits
Key Dates
20 October 2025- Amendment to the annex published by WBF/EAER.
21 October 2025, 11:00 pm- Measures enter into force; immediate blocking and screening obligations apply.
21 October 2025- FINMA publishes updated sanctions notice and notifies via MyFINMA.
Compliance Impact
Urgency: High – Immediate effect from 21 October 2025 demands swift action to avoid violations, as asset freezing is retroactive and non-compliance risks FINMA enforcement (e.g., fines, license restrictions). This matters amid frequent 2025 sanctions updates (e.g., 10+ Nicaragua/Myanmar deltas), hei
Am 20. Oktober 2025 hat das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF die Liste der in diesem Kontext sanktionierten Personen, Unternehmen und Organisationen geändert. Das WBF hat die für die Schweiz massgebliche Sanktionsdatenbank SESAM (SECO Sanctions Management) angepasst und die Anpassung auf seiner Internetseite dringlich veröffentlicht. Die Änderung tritt am 21. Oktober 2025 23:00 Uhr in Kraft. Die Finanzintermediäre werden gemäss den Vorschriften der Verordnu...
AI Analysis
This FINMA publication notifies Swiss financial intermediaries of updates to the Swiss sanctions list against the Islamic Republic of Iran, as amended by the Federal Department of Economic Affairs, Education and Research (WBF) on October 20, 2025, via the SESAM sanctions database. It matters because financial firms must immediately screen clients, freeze assets, and report matches to comply with Swiss sanction ordinances, amid escalating global Iran sanctions following UN snapback mechanisms. Failure to act risks enforcement by FINMA or SECO.
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What Changed
The core change is the WBF's amendment to the SESAM (SECO Sanctions Management) database, updating the list of sanctioned persons, companies, and organizations related to Iran sanctions. This aligns with the Swiss Iran Ordinance and reflects broader international reimposition of UN sanctions via the JCPOA snapback mechanism triggered in late September 2025. No new Swiss-specific requirements are introduced beyond standard implementation of the updated list, but it emphasizes urgent publication a
What You Need To Do
Immediate screening
Asset freeze
Transaction blocks and reporting
Due diligence enhancement
Internal controls
Key Dates
20 October 2025- WBF amends SESAM database and publishes urgent update on its website.
21 October 2025, 23:00 Uhr- Changes enter into force, binding on all Swiss financial intermediaries.
29 September 2025- Triggering UN snapback sanctions on Iran reinstated (contextual lead-in). https://www.mrllp.com/news-item/monthly-sanctions-update-october-2025/
12 December 2025- Swiss Federal Council expands Iran Ordinance, adding humanitarian exceptions and authorization grounds. https://sanctionsnews.bakermckenzie.com/swiss-government-significantly-expands-sanctions-against-iran/
Compliance Impact
Urgency: High - Effective immediately (post-21 Oct 2025), with today's date (Jan 2026) indicating firms had ~3 months to implement but must verify ongoing compliance amid further expansions (e.g., Dec 2025). Matters due to FINMA's strict enforcement history on sanctions (e.g., independent freezing m
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.
The Swiss Financial Market Supervisory Authority FINMA today published guidance on the extension of the transitional period for exchange of collateral in certain OTC derivatives transactions. The current transitional period runs until 1 January 2026 and will be extended by a further three years.
AI Analysis
FINMA extended the transitional period for collateral exchange requirements in non-centrally cleared OTC derivatives from January 1, 2026 to January 1, 2029, providing Swiss market participants with three additional years of relief from mandatory collateral posting obligations on certain equity derivatives. This extension aligns Swiss regulation with the EU's indefinite exemption introduced in December 2024, preventing competitive disadvantages for Swiss derivatives traders while a permanent regulatory framework is developed.
What Changed
The primary regulatory change is the extension of the transitional period under Article 131 paragraph 5bis of the Financial Market Infrastructure Ordinance (FinMIO). Specifically:
Previous deadline: January 1, 2026
New deadline: January 1, 2029
Scope: Applies to non-centrally cleared OTC derivatives transactions involving equity options, index options, and equity basket derivatives that are not cleared through a FINMA-authorized or recognized central counterparty
Regulatory basis: FINMA Guidanc
What You Need To Do
*Acknowledge the extended timeline
*Maintain risk management controls
*Monitor FinMIA revision
*Document compliance rationale
*Assess competitive positioning
Key Dates
October 9, 2025- FINMA Guidance 04/2025 published and takes effect immediately
January 1, 2029- New expiration date for the transitional period; collateral exchange obligations become mandatory unless further extended or a permanent framework is adopted
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung über Massnahmen gegenüber Burundi (SR 946.231.121.8) publiziert.
AI Analysis
The Swiss Federal Department of Economic Affairs, Education and Research (WBF/DEFR) has updated the annex to the Ordinance on Measures against Burundi (SR 946.231.121.8), modifying the list of sanctioned persons, companies, and organizations in the SESAM database. This matters for Swiss financial institutions as it imposes immediate asset freeze and transaction restrictions, aligning with FINMA's heightened focus on sanctions risks amid geopolitical tensions.
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What Changed
Modification to the list of sanctioned individuals, enterprises, and organizations under the Burundi sanctions ordinance.
Update published in the SECO Sanctions Management (SESAM) database, which is the authoritative Swiss reference for sanctions compliance.
No details on specific additions, deletions, or alterations to designations are provided in the publication summary, but changes trigger mandatory screening and blocking obligations.
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What You Need To Do
Screen clients, transactions, and assets against the updated SESAM database immediately upon effectiveness (post-8 October 2025, 23:00)
Freeze assets of newly listed or modified sanctioned parties without prior notice and report to SECO/FINMA via MyFINMA notification system
Cease any direct or indirect provision of funds/economic resources to sanctioned parties; conduct retrospective reviews of existing relationships for Burundi exposure
Update internal sanctions screening tools, policies, and staff training to reflect SESAM changes; document compliance efforts for potential FINMA audits
Key Dates
6 October 2025- DEFR modifies the sanctions list and updates SESAM database.
8 October 2025, 23:00 hours- Changes enter into force; asset freezes and prohibitions apply immediately thereafter.
Compliance Impact
Urgency: High - Immediate effectiveness (8 October 2025) requires swift database rescreening to avoid violations, with FINMA emphasizing sanctions evasion risks in its 2025 Risk Monitor amid geopolitical shifts; non-compliance risks enforcement actions, fines, or reputational damage.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat eine Änderung des Anhangs 1 der Verordnung vom 1. Juni 2012 über Massnahmen gegenüber Guinea-Bissau (SR 946.231.138.3) publiziert.
AI Analysis
The Swiss Federal Department of Economic Affairs, Education and Research (WBF) published an amendment to Annex 1 of the Ordinance on Measures against Guinea-Bissau (SR 946.231.138.3) on October 7, 2025, updating the sanctions list maintained in the SESAM database. This change, effective October 8, 2025, requires Swiss financial intermediaries to immediately screen clients, freeze assets of listed individuals, and report to SECO, reinforcing compliance with UN Security Council Resolution 2048 (2012) and EU measures following the 2012 military coup. It matters for preventing sanctions evasion and ensuring adherence to Switzerland's Embargogesetz (EmbG), with non-compliance risking FINMA enforcement.
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What Changed
Amendment to Annex 1 of the Ordinance dated June 1, 2012, on measures against Guinea-Bissau, as published by WBF on October 6, 2025, and reflected in FINMA's announcement on October 7, 2025.
Updates to the SESAM (SECO Sanctions Management) database, which is the authoritative Swiss sanctions list; specific details on additions, deletions, or modifications to listed natural persons (e.g., changes for six individuals noted in related updates) were implemented.
Prohibition on dealings with listed p
What You Need To Do
Screen customer relationships against the updated SESAM list immediately upon effectiveness using heightened due diligence per GwG Art
Freeze assets of any matched listed persons/entities and prohibit new business
Report affected relationships to SECO without delay; conduct additional checks and file SARs with MROS if suspicions remain
Update internal sanctions screening systems and monitor MyFINMA for FINMA notifications
Document compliance actions to demonstrate adherence in audits or FINMA inquiries
Key Dates
October 6, 2025- WBF adjusts SESAM database and publishes changes on its website.
October 7, 2025- FINMA publishes the sanctions notice.
October 8, 2025, 23:00 Uhr- Changes enter into force; immediate implementation required for asset freezes and prohibitions.DEADLINE
prior 2024update had a similar timeline effective October 8, 2024, at 18:00 Uhr, indicating recurring list maintenance.)
Compliance Impact
Urgency: High - Immediate asset freeze and reporting are mandatory from October 8, 2025, with violations exposing firms to FINMA fines, reputational damage, or criminal liability under EmbG and GwG. This update underscores ongoing list volatility (e.g., similar 2024 change), demanding robust real-ti
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs 7 der Verordnung vom 8. Juni 2012 über Massnahmen gegenüber Syrien (SR 946.231.172.7) publiziert.
AI Analysis
The Swiss Federal Department of Economic Affairs, Education and Research (WBF) updated Annex 7 of the Ordinance on Measures against Syria (SR 946.231.172.7) on October 6, 2025, modifying the list of sanctioned persons, companies, and organizations, effective October 8, 2025. This change requires Swiss financial intermediaries to immediately implement asset freezes and report affected relationships to SECO, amid broader Swiss alignment with EU and US easing of Syria sanctions earlier in 2025. It matters for compliance as it mandates swift screening updates to avoid violations of ongoing targeted financial sanctions.
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What Changed
The WBF amended the list of sanctioned entities in Annex 7 of SR 946.231.172.7, updating the SESAM sanctions database (SECO Sanctions Management).
Financial intermediaries must enforce prohibitions, freeze assets of listed parties, and report business relationships to SECO.
Reporting to SECO does not exempt intermediaries from conducting due diligence under Art. 6 GwG (Anti-Money Laundering Act) and filing suspicions with the Money Laundering Reporting Office under Art. 9 GwG if issues persist.
What You Need To Do
Screen client portfolios, accounts, and transactions against the updated SESAM database immediately upon effectiveness
Freeze assets of newly listed or affected sanctioned parties and implement transaction prohibitions
Report all impacted business relationships to SECO promptly
Conduct GwG due diligence (Art
Update internal sanctions screening systems and train staff on changes; retain evidence of compliance for audits
Key Dates
October 6, 2025- WBF publishes update to Annex 7 and SESAM database.
October 8, 2025 at 23:00- Changes enter into force; asset freezes and prohibitions apply immediately.
Compliance Impact
Urgency: High - Immediate asset freeze and reporting obligations take effect October 8, 2025, with non-compliance risking FINMA enforcement, fines, or criminal liability under sanctions laws. This matters as it occurs against a backdrop of Syria sanctions easing (e.g., Swiss economic sanctions lifte
The Swiss Financial Market Supervisory Authority FINMA and the UK Financial Conduct Authority FCA and Prudential Regulation Authority PRA today signed a memorandum of understanding. The memorandum sets out details of the co-operation under the Berne Financial Services Agreement and opens up new cross-border opportunities in insurance and investment services.
The Swiss Financial Market Supervisory Authority FINMA is transferring the FINMA Banking Insolvency Ordinance, FINMA Insurance Bankruptcy Ordinance and FINMA Collective Investment Schemes Bankruptcy Ordinance to a new consolidated FINMA Insolvency Ordinance. The existing regulations have been revised and adapted where necessary – based on findings from practical experience and academia. In addition, the FINMA Insolvency Ordinance implements the amendments made necessary by the revisions to th...
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs 7 der Verordnung vom 11. November 2015 über Massnahmen gegenüber der Islamischen Republik Iran (SR 946.231.143.6) publiziert.
AI Analysis
On August 18, 2025, the Swiss State Secretariat for Economic Affairs (WBF) published an updated sanctions notification regarding Iran, specifically modifying Annex 7 of the Ordinance on Measures against the Islamic Republic of Iran (SR 946.231.143.6). This update is critical for Swiss financial institutions and businesses because it reflects the evolving sanctions landscape following the automatic reinstatement of UN Security Council resolutions on Iran's nuclear program in September 2025.
What Changed
The August 2025 notification updated the list of designated persons, entities, and organizations subject to Swiss sanctions against Iran. While the search results do not provide the specific details of individual entries added or removed from Annex 7, this type of notification typically reflects changes to the UN Security Council's consolidated sanctions list that Switzerland is obligated to implement under its Embargo Act (EmbG).
The broader context shows that Switzerland was preparing for sig
What You Need To Do
*Immediate compliance obligations
*Sanctions List Screening
*Transaction Review
*Account Monitoring
*Policy Updates
Key Dates
August 18, 2025- WBF published updated sanctions notification for Iran (Annex 7 modifications)
August 28, 2025- Germany, France, and UK triggered UN snapback mechanism
September 15, 2025- Harmonization of sanctions ordinances entered into force (affecting financial sanctions procedures across multiple jurisdictions including Iran)
September 27, 2025- UN nuclear-related sanctions against Iran automatically reinstated
September 28, 2025- EU reactivated suspended sanctions related to Iran's proliferation activities
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung des Anhangs 2 der Verordnung vom 12. August 2015 über Massnahmen gegenüber der Republik Südsudan (SR 946.231.169.9) publiziert.
AI Analysis
FINMA has published an update notifying financial intermediaries of changes to Annex 2 of the Ordinance on Measures against the Republic of South Sudan (SR 946.231.169.9), as announced by SECO on August 18, 2025, effective August 20, 2025. This matters because it imposes immediate asset freeze and transaction ban obligations on Swiss financial institutions with exposure to newly or modified sanctioned entities, aligning with UN Security Council Resolution 2206 (2015) and EU measures to address South Sudan's ethnic conflict, human rights violations, and humanitarian crisis. Compliance failure risks enforcement actions under the Embargo Act (EmbG) and AML regulations (GwG).
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What Changed
SECO amended Annex 2 of the Ordinance, likely adding, removing, or modifying listings of sanctioned persons, companies, or organizations related to South Sudan.
The update requires implementation of prohibitions (e.g., no new business), asset freezing for listed parties, and reporting of affected relationships to SECO.
Changes stem from ongoing enforcement of UN and EU sanctions, with Switzerland implementing via the Embargo Act; Annexes are dynamically updated.
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What You Need To Do
Screen client portfolios, transactions, and relationships against the updated SESAM database and Annex 2 via FINMA's website or MyFINMA portal
Freeze assets of newly listed parties without delay; block prohibited transactions
Report affected business relationships to SECO promptly; conduct additional GwG Art
Update internal sanctions screening systems and train staff; document compliance for audit trails
Key Dates
18.08.2025- SECO publishes amendment to Annex 2.
19.08.2025- FINMA issues public notification of the update.
20.08.2025- Amendment enters into force; asset freezes and prohibitions apply immediately.
Compliance Impact
Urgency: High - Immediate effect from August 20, 2025, mandates asset freezes and reporting with no grace period, exposing non-compliant firms to FINMA enforcement, fines, or reputational damage under EmbG and GwG. South Sudan sanctions are niche but cumulative updates (e.g., similar to Sudan change
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung (WBF) hat den Anhang 2 der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) geändert.
AI Analysis
The Swiss Federal Department of Economic Affairs, Education and Research (WBF) has amended Annex 2 of the Ordinance of May 25, 2005, on Measures against Sudan (SR 946.231.18), updating Switzerland's sanctions list in alignment with the SESAM database managed by SECO. This change, effective immediately on a urgent basis, requires Swiss financial intermediaries to implement updated asset freezes and transaction restrictions without delay, heightening compliance risks amid ongoing international sanctions escalation on Sudan-related actors. It matters because non-compliance exposes firms to FINMA enforcement, reputational damage, and penalties under anti-money laundering and sanctions regimes.
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What Changed
Amendment to Annex 2 of SR 946.231.18, which lists designated persons, entities, and assets subject to sanctions such as asset freezes and prohibitions on making funds or economic resources available.
Updates reflected in the official Swiss sanctions database SESAM (SECO Sanctions Management), published on the SECO website, ensuring harmonized implementation across Switzerland.
Urgent (dringliche) amendment entering into force immediately, bypassing standard consultation periods to address time-
What You Need To Do
Screen against updated SESAM database
Transaction screening and blocking
Internal compliance update
Reporting obligations
Audit and evidence retention
Compliance Impact
Urgency: High – The urgent effective date mandates immediate action to avoid violations, with FINMA's enforcement history showing fines up to CHF 500,000+ for sanctions breaches. This matters amid Sudan's escalating conflict, where global sanctions (e.g., EU/UK additions in 2025) increase circumvent
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung des Anhangs der Verordnung vom 7. August 1990 über Wirtschaftsmassnahmen gegenüber der Republik Irak (SR 946.206) publiziert.
AI Analysis
The Swiss State Secretariat for Economic Affairs (SECO) published an updated sanctions notification on August 13, 2025, reflecting modifications to the UN sanctions list targeting Iraq under the Ordinance of August 7, 1990 (SR 946.206). This update is automatically applicable in Switzerland and requires immediate compliance by all financial institutions and regulated entities, as Switzerland implements UN Security Council sanctions lists without delay through its automatic application framework.
What Changed
The UN Sanctions Committee modified the list of sanctioned individuals, companies, and organizations subject to Iraq-related sanctions on August 5, 2025. The specific modifications to the sanctions list were incorporated into Switzerland's SESAM database (SECO Sanctions Management), which serves as the authoritative sanctions reference for Swiss compliance purposes. Under Switzerland's automatic application ordinance adopted by the Federal Council on March 4, 2016, amendments to UN Security Coun
What You Need To Do
*Update screening systems immediately - Integrate the August 5, 2025 modifications into transaction monitoring and customer due diligence systems
*Review existing customer relationships - Screen all current customers, counterparties, and beneficial owners against the updated SESAM database
*Audit transaction history - Identify any transactions processed between August 5-13, 2025 that may have involved newly sanctioned parties
*Document compliance procedures - Maintain records demonstrating implementation of updated sanctions screening
*Train compliance staff - Ensure all relevant personnel understand the updated sanctions list and screening requirements
Key Dates
August 5, 2025- UN Sanctions Committee decision modifying the Iraq sanctions list
August 13, 2025- SECO published the updated sanctions notification and SESAM database modifications
Immediate- Effective date in Switzerland (automatic application upon UN modification)
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung der Anhänge 5, 13, 14 und 15 der Verordnung über Massnahmen gegenüber Belarus (SR 946.231.116.9) publiziert.
AI Analysis
The Swiss Federal Department of Economic Affairs, Education and Research (WBF) published updates to Annexes 5, 13, 14, and 15 of the Ordinance on Measures against Belarus (SR 946.231.116.9), aligning Switzerland with additional EU sanctions imposed on July 18, 2025, in response to Belarus's involvement in Russia's war against Ukraine. This matters for Swiss financial institutions as it expands asset freezes, reporting obligations, and prohibitions, strengthening sanctions parity with Russia to prevent circumvention and enhance enforcement effectiveness.
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What Changed
The updates amend Annexes 5, 13, 14, and 15 of SR 946.231.116.9, incorporating EU measures beyond the 18th Russia sanctions package, focusing on goods, financial, and energy sectors. Specific enhancements include expanded lists of sanctioned goods for military/technological strengthening (Annex 3 updated 29.10.2025), high-priority goods (Annex 11a), and industrial strengthening goods (Annex 19). Financial sanctions reinforce asset freezes, prohibitions on providing funds/services to listed parti
What You Need To Do
Screen clients, assets, and transactions against updated Annexes 5, 13-15, and related lists (e
Conduct GwG Art
Cease prohibited activities
Update internal screening tools, policies, and training; monitor SECO/FINMA websites for ongoing Anhänge updates
For trade/energy firms
Key Dates
30 October 2025- New provisions from Bundesrat decision on 29 October 2025 enter into force, requiring immediate implementation of updated Belarus measures.
13 December 2025- Expansions to sanctions lists for Russia/Belarus (including 22 persons, 42 entities, 116 ships, 45 trade firms, 5 banks) take effect.
15 September 2025- Harmonization of financial sanctions across multiple regimes (including Belarus) enters into force, clarifying fund crediting on blocked accounts and reporting.
12 December 2025- Publication of list expansions by WBF/SECO.
Compliance Impact
Urgency: High - Immediate effect from 30 October 2025 demands swift asset screening and reporting to avoid GwG/EmbG violations, with heightened FINMA scrutiny amid Russia-Belarus alignment and recent list expansions (e.g., December 2025). Non-compliance risks enforcement, reputational damage, and sa
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 28. Juni 2023 über Massnahmen betreffend Moldau (SR 946.231.156.5) publiziert.
AI Analysis
The Swiss Federal Department of Economic Affairs, Education and Research (WBF) published an update to Annex of the Ordinance on Measures concerning Moldova (SR 946.231.156.5) on August 11, 2025, expanding the sanctions list for Moldova-related destabilizing activities. This matters for Swiss financial intermediaries as it imposes immediate asset freeze and reporting obligations under the Embargo Act (EmbG) and Anti-Money Laundering Act (GwG), aligning Switzerland with EU measures to counter threats to Moldova's sovereignty amid regional instability.
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What Changed
Updated Sanctions List: The WBF amended the Annex to include additional natural or legal persons, organizations, or entities subject to financial sanctions, effective immediately upon publication.
Financial Sanctions Reinforced: Mandatory asset freezes (sperre von Vermögenswerten), prohibitions on making funds or economic resources available (Bereitstellungsverbote), and reporting requirements to SECO for frozen assets remain core, mirroring EU Regulation 2023/888 updates.
No Change to Core Ordi
What You Need To Do
Screen Client Base
Freeze and Report Assets
AML Due Diligence
Internal Controls
Monitor Ongoing
Key Dates
11.08.2025 - Publication of Annex update by WBF.
12.08.2025 - Measures enter into force(based on similar recent updates; immediate effect standard).
Immediate (unverzüglich) - Report frozen assets to SECO.
28.06.2023 - Original Ordinance effective date(context for baseline measures).
Compliance Impact
Urgency: High – Immediate asset blocking and SECO reporting are mandatory with no grace period, risking FINMA enforcement (e.g., fines, reputational damage) for non-compliance; matters due to expanding geopolitical risks in Eastern Europe, potential for rapid list growth, and overlap with high-volum
On July 31, 2025, Switzerland's State Secretariat for Economic Affairs (SECO) amended the annex to the Syria Asset Freezing Ordinance (SR 196.127.27), originally enacted March 7, 2025, to update the list of designated individuals subject to comprehensive asset freezes. This amendment reflects Switzerland's ongoing implementation of targeted financial sanctions against politically exposed persons connected to the former Assad regime, requiring immediate compliance from all financial intermediaries and asset holders operating in Swiss jurisdiction.
What Changed
The July 31, 2025 amendment modified the annex (list of designated persons) to the Syria Asset Freezing Ordinance without altering the substantive freezing requirements themselves. The original ordinance, enacted March 7, 2025, froze all assets of 17 designated individuals; the July amendment adjusted this list, though the specific names added or removed are not detailed in the available regulatory notices.
The amendment operates under the Federal Act on the Freezing and Restitution of Illicit
What You Need To Do
*Immediate compliance steps for financial institutions:
*Update sanctions screening systems to reflect the amended annex list as of July 31, 2025
*Freeze all assets of newly designated individuals without delay, including bank accounts, securities, real estate, and other property of any kind
*File mandatory reports with the Money Laundering Reporting Office (MROS) for all frozen assets under Article 3 of the FIAA
*Conduct enhanced due diligence on existing client relationships to identify any connections to designated persons or their family members, associates, or controlled entities
Key Dates
March 7, 2025, 6:00 PM UTC– Original Syria Asset Freezing Ordinance entered into force
July 31, 2025, 6:00 PM UTC– Amendment to annex (list of designated persons) entered into force
Ongoing– Immediate freezing obligation upon designation; no grace period applies
Four-year validity– The ordinance remains valid for four years from March 7, 2025, unless extended or modified
Das Eidgenössische Departement für Wirtschaft, Bildung und Forschung WBF hat eine Änderung des Anhangs der Verordnung vom 16. Dezember 2022 über Massnahmen betreffend Haiti (SR 946.231.139.4) publiziert.
AI Analysis
The Swiss Federal Department of Economic Affairs, Education and Research (WBF) has published an update to Annex 2 of the Ordinance on Measures concerning Haiti (SR 946.231.139.4), dated December 16, 2022, aligning Switzerland's sanctions regime with recent UN Security Council decisions. This matters for Swiss financial institutions as it mandates immediate screening against potentially updated lists of designated persons and entities, reinforcing asset freezes, travel bans, and an expanded arms embargo to address Haiti's instability. Non-compliance risks FINMA enforcement actions under anti-money laundering and sanctions frameworks.
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What Changed
Annex Update: The amendment modifies the annex to the Haiti Ordinance, likely incorporating additions to the UN Sanctions List, such as new designated individuals or entities involved in destabilizing activities like illicit natural resource exploitation, as seen in parallel UN actions (e.g., 2 new entries added on October 17/20, 2025).
Sanctions Renewal and Expansion: Reflects UNSC Resolution 2752 (2024, adopted October 18, 2024) and subsequent renewals (e.g., Resolution 2794 (2025)), renewing
What You Need To Do
Screen Immediately
Cease Prohibited Activities
Report Findings
Update Policies/Systems
License Checks
Key Dates
October 18, 2024 - UNSC Resolution 2752 adoptionExpands arms embargo scope, basis for national implementations.
July 23, 2025 - UK Haiti Sanctions Amendment effectiveParallel indicator of timeline for UN-aligned changes.
October 17/20, 2025 - UNSC Committee adds 2 entries to Sanctions ListTriggers immediate asset freeze checks; Swiss update (SR 946.231.139.4) published in response.
October 21, 2025 - Swiss WBF/VTG announcementConfirms amended sanctioned list.
Immediate/publication date (2025/07/09 per FINMA notice) - Swiss Annex amendment effectiveNo grace period specified; aligns with "without delay" freezing requirements.
Compliance Impact
Urgency: High – Immediate asset freeze obligations apply "without delay" upon list updates, with FINMA's enforcement type indicating potential fines or reputational damage for lapses; matters due to Haiti's volatility driving frequent UN changes, risking secondary sanctions exposure for Swiss firms
On 3 July 2025, the Swiss Financial Market Supervisory Authority FINMA launched the consultations on the new Ordinances on the Risk Diversification of Banks and Securities Firms and on the Liquidity of Banks and Securities Firms. The consultations will go on until 29 September 2025.
At its meeting on 25 June 2025, the Federal Council was informed of the resignation of Rene W. Keller from the Board of Directors of the Swiss Financial Market Supervisory Authority FINMA.
Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 21. März 2025 über Massnahmen gegenüber Personen und Organisationen, die mit den Organisationen ISIL (Da'esh) und Al-Kaida in Verbindung stehen (SR 946.231.08) publiziert.