D-01-21

On September 26, 2025, the Federal Chambers adopted the latest revision of the anti-money laundering measures, which began in the summer of 2023. For the record, the government's bill had two parts. The first related to the introduction of an electronic register of beneficial owners of companies, through a new law on the transparency of legal entities and the identification of beneficial owners (LTPM). The second consisted of several amendments to the AMLA, the most controversial of which was the[...]

In its ruling ACJC/805/2025 of June 16, 2025, the Court of Justice of the Canton of Geneva ruled on an action for rectification of personal data brought in a banking context. This ruling, which to our knowledge is one of the first published court decisions on such an action in the banking sector, raises questions regarding the application of the revised Federal Act on Data Protection (FADP) in relation to the designation of a beneficial owner. The ruling, which is[...]

For once, the publication of the case law of the Banking Supervisory Commission (hereinafter: the Commission) for the second half of 2024 contains a little more substance than usual. On procedural aspects, it is mainly issues related to the burden and the degree of proof required that seem to have occupied the authority. In the first case, the Commission emphasizes that it is all the more incumbent on the bank to prove that it has fulfilled its due diligence obligations[...]

In three judgments 1C_435/2024, 1C_604/2024 (intended for publication) and 1C_610/2024 of 19 May 2025, the Federal Supreme Court ruled to uphold the freeze on bank assets ordered by the Federal Council in 2022 and 2023, the beneficial owners of which are persons belonging to the political entourage of former Ukrainian President Viktor Yanukovych. The assets had initially been seized following a request for international mutual assistance in criminal matters addressed to Switzerland by Ukraine (see TPF, RR.2017.118-121, RR.2017.122, 6 February[...]