Executive Summary

The Swiss Federal Council decided on 12 June 2026 to enact two laws to combat money laundering and terrorist financing. The revised Money Laundering Act and the new Law on the Transparency of Legal Entities will come into force on 1 October 2026. The federal chambers approved both laws on 26 September 2025. The regulations establish a transparency register for beneficial owners and introduce new due diligence obligations for advisory activities.

Persons

  • Federal Council (collegiate body; decision-maker)

Topics

  • Anti-money laundering
  • Transparency register
  • Terrorist financing
  • Financial compliance

Clarus Lead

Switzerland is thereby closing gaps in its compliance framework that will be assessed in the international FATF country review 2027–2028. The deliberately chosen implementation period (October 2026) provides affected economic actors with four months' notice and initiates transition periods for registrations. This signals that Switzerland is defending its reputation as a financial centre through proactive regulation – a response to international pressure and reputational risks in the context of sanctions and money flow controls.

Detailed Summary

The revised Money Laundering Act and the new Transparency Act address specific weaknesses in Switzerland's control system. The transparency register records the beneficial owners behind legal entities – a central requirement of international standards for combating money laundering and terrorist financing. At the same time, new due diligence obligations are being introduced for high-risk advisory activities to close loopholes in financial consulting.

Implementation follows a phased approach: while most provisions take effect on 1 October 2026, cantons receive a transition period to adapt their laws on notarial offices. The Federal Council responded to consultation feedback in designing the ordinances – in particular, thresholds for professional advisory services were defined and cantonal commercial registers were relieved to reduce implementation costs. This pragmatic calibration is intended to keep compliance burdens proportional for both business and authorities.

Key Statements

  • Dual legislative package: Revision of the Money Laundering Act + new regulation of transparency of legal entities
  • Transparency register: Central instrument for identifying beneficial owners from October 2026
  • FATF alignment: Measures serve to prepare for international country review 2027–2028
  • Phased implementation: Four months' notice; cantons receive longer period for notarial laws

Critical Questions

  1. Data Quality: How will the correctness and timeliness of entries in the transparency register be ensured? What sanctions apply in case of false declarations?

  2. Cost Distribution: What concrete cost savings for cantons result from the threshold definition, and how will these be measured?

  3. Transition Periods: Are four months' notice sufficient for medium and small enterprises to adapt their structures, or do compliance delays threaten?

  4. Effectiveness: What data underpin the assumption that the new register will actually reduce money laundering – or is this transparency without demonstrable deterrent effect?

  5. Conflicts of Interest: To what extent have financial associations and the consulting industry influenced the thresholds in ordinance drafting to minimize compliance burdens?

  6. Cantonal Federalism: How will different cantonal implementations of notarial provisions be prevented from creating gaps in the register?

Source Directory

Primary Source: Federal Council decides on entry into force of Money Laundering Act and Transparency Act – news.admin.ch, 12.06.2026

Supplementary Resources:

Verification Status: ✓ 12.06.2026

This text was created with the support of an AI model. Editorial responsibility: clarus.news | Fact-check: 12.06.2026