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Swiss ban on banknotes and securities to Russia in effect (as of 2 days ago)

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29 April 2022 International sanctions2022

Updated sanction notification

On April 27, 2022, the Federal Council enacted further sanctions against Russia. To this end, he amended the Ordinance on Measures in Connection with the Situation in Ukraine ( 

SR 946.231.176.72 ).

Further sanctions come into force in the financial sector. Any support for Russian organizations that are publicly owned or controlled will be prohibited. With immediate effect, trusts for Russian nationals or natural or legal persons resident in Russia may no longer be registered in Switzerland. Various services for such trusts are also prohibited. The changes came into effect on April 27, 2022 at 6:00 p.m.


In accordance with the provisions of the ordinance, the financial intermediaries are required to implement the bans, to freeze the assets of the sanctioned persons and to report the affected business relationships to SECO. The report to SECO does not release a financial intermediary from carrying out additional investigations in accordance with Article 6 of the Money Laundering Act in the event of suspicions and, if they cannot clear them up, from reporting immediately to the Money Laundering Reporting Office in accordance with Article 9 of the Money Laundering Act.

Note the effective date/time – but the email notification went out today… if you want to be more effective, send this out before it’s “live”….

Link:

FINMA Notice

Categories: Capital markets measures FINMA Updates Russia sanctions Ukraine sanctions

eric9to5

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