- A non-public register for the identification of beneficial owners is introduced and made accessible to certain authorities.
- New obligations to update information on a risk-based basis and strengthen the anti-money laundering mechanism are to be included in the bill.
On October 12, 2022, the Federal Council instructed the Federal Department of Finance (FDF) to draft a bill on “increased transparency and facilitated identification of beneficial owners of legal entities” (Media release).
The template should be available by the end of June 2023. In particular, a Register for the identification of beneficial owners and new obligations to update information on effective beneficiaries on a risk-based basis would be introduced. The registry would be accessible to certain authorities but would not be public. In addition, the FDF should
Include measures to strengthen the current anti-money laundering provisions in the bill. In particular, it should be examined, with the involvement of the stakeholders concerned, whether further adjustments should be made to the anti-money laundering provisions, for example in the area of legal professions.