FINMA opens consultation on partial revision of AML ordinance

On 12 May 2026, the Swiss Financial Market Supervisory Authority (FINMA) announced the start of a public consultation on a partially revised version of the Anti‑Money Laundering Ordinance (AMLO‑FINMA). The consultation period runs until 9 June 2026, allowing market participants and other stakeholders to submit feedback on the proposed changes.

FINMA is the independent supervisory body responsible for overseeing banks, securities firms, insurance companies and other financial market participants in Switzerland. Among its core duties is the enforcement of anti‑money‑laundering (AML) rules to ensure that the Swiss financial system is not used for illicit financing.

The revision is described as partial, indicating that only selected provisions of the existing ordinance are being updated. The changes are intended to address emerging risks and to align Swiss AML standards more closely with evolving international expectations.

During the consultation, interested parties may provide written comments, suggestions or objections. FINMA typically reviews all submissions before finalising the ordinance, a process that aims to balance regulatory effectiveness with the operational realities of the financial sector.

The outcome of the revision could have material implications for banks, asset managers, securities dealers and other entities subject to Swiss AML obligations. Adjustments to reporting thresholds, customer due‑diligence requirements or sanction‑screening procedures could affect compliance costs and operational processes.

Switzerland has faced increased scrutiny from foreign regulators and international bodies such as the Financial Action Task Force (FATF) over the robustness of its AML regime. Recent assessments have highlighted gaps that the Swiss authorities have pledged to close, making the current consultation a key step in that effort.

If adopted, the revised ordinance is likely to tighten supervisory expectations and could enhance Switzerland’s reputation for financial integrity. At the same time, the financial industry will be monitoring the final rules for any impact on the competitiveness of the Swiss market.