Regulatory Notices

Key dates

2026-11-03

The EAER expanded and amended the Swiss sanctions lists relating to Russia and Belarus.

2026-11-04

The Federal Council decided to adopt the EU’s 21st Russia and Belarus sanctions package and related measures.

2026-11-04

The amended sanctions lists entered into force at 23:00 Swiss time.

2026-11-05

The sectoral measures, including the strengthened crypto-sector restrictions and transaction prohibitions, entered into force.

Suggested considerations

• Compliance teams may wish to refresh sanctions screening against the amended Swiss Russia and Belarus lists, including customer, beneficial-owner, authorised-signatory, counterparty and payment screening records.
• Swiss crypto-sector companies should consider reviewing ownership registers, pending acquisitions, shareholder changes, control arrangements and beneficial-ownership information for Russian nationals and persons resident in Russia, including indirect acquisition structures.
• Firms should consider mapping exposure to the newly prohibited banks, financial institutions, crypto-service providers and other entities, and placing appropriate holds on affected transactions and assets pending resolution.
• Financial intermediaries may wish to document asset-freeze decisions and report affected business relationships to SECO in accordance with the applicable Ukraine sanctions ordinance.
• Where sanctions-related facts create suspicion of money laundering or terrorist financing, firms should consider completing the additional clarifications required by Article 6 AMLA and filing an immediate report under Article 9 AMLA if the suspicion cannot be dispelled.
• Firms may wish to update sanctions procedures, transaction-monitoring scenarios, onboarding questionnaires and escalation controls to distinguish SECO sanctions reporting from separate AMLA reporting.
• Compliance teams may wish to review external exposure to EU sanctions controls as well as Swiss measures; independent Swiss sanctions commentary describes the regime as not being a general Russia or Belarus embargo, but highlights continuing expansion of financial, crypto, services and circumvention controls.

What changed

The EAER expanded and amended the Russia and Belarus sanctions lists, adding 254 individuals, companies and organisations to measures including asset freezes and restrictions on making funds or economic resources available. Switzerland also introduced transaction prohibitions covering, among others, 33 Russian banks, one bank in a third country, 17 financial institutions and crypto-service providers, five third-country companies, four Russian airports and two Russian ports.

Key dates

2026-11-02

WBF amended Annex 2 of the Ordinance of 25 May 2005 on Measures against Sudan (SR 946.231.18), modifying three individual entries.

2026-11-03 Deadline

The amended Sudan sanctions measures enter into force at 23:00 Swiss time; affected financial intermediaries must apply the relevant prohibitions, freeze assets and report affected relationships and blocked assets as required by the ordinance.

Suggested considerations

• Compliance teams should consider updating sanctions-screening data, including aliases and identifying information, from SESAM and the amended Annex 2 before the 23:00 effective time on 3 November 2026.
• Firms should consider screening customers, beneficial owners, counterparties, payment beneficiaries, securities positions and existing business relationships against all three modified entries, including historical and transliterated names where relevant.
• Where a potential match is identified, firms should consider applying the Article 2 financial-sanctions restrictions, preventing further availability of assets or economic resources, preserving relevant records and escalating the case for false-positive resolution and sanctions governance review.
• Firms should consider notifying SECO of affected business relationships and blocked assets in accordance with SR 946.231.18 and maintaining evidence of the decision, controls applied and notification submitted.
• Compliance teams may wish to assess whether a sanctions hit or related transaction creates additional money-laundering concerns requiring enhanced inquiries under Article 6 GwG and, if suspicions cannot be dispelled, an immediate Article 9 GwG report to the Money Laundering Reporting Office.
• Firms with cross-border operations should consider separately assessing whether the modified persons are also subject to EU, UK, US or other sanctions regimes, because the Swiss listing and any foreign restrictions may differ in scope and ownership or control consequences.
• Firms should consider validating batch-screening, real-time payment-screening, case-management and alert-escalation controls after the SESAM update, given the short notice between publication and effectiveness.

What changed

Three individual entries in Annex 2 were modified; the update is implemented through the Swiss SESAM sanctions database. The amended listings are subject to the financial sanctions in Article 2 paragraph 1 of SR 946.231.18, including the freezing of assets and economic resources and the prohibition on directly or indirectly making assets or economic resources available to listed persons. The relevant travel-ban provisions under Article 4 paragraph 1 also apply. Financial intermediaries must report affected business relationships and blocked assets to SECO.

Key dates

2026-10-14

The EBA announced that USDC issued by Circle Internet Financial Europe SAS had been classified as a significant EMT under MiCA.

2026-11-12 Deadline

Dual supervision of USDC begins: the EBA assumes direct responsibility for own funds, reserve of assets, liquidity requirements, and recovery and redemption plans, while the ACPR retains specified governance and organisational responsibilities.

Suggested considerations

• Circle and its regulatory counsel should map existing own-funds, reserve-of-assets, liquidity, recovery, and redemption controls to the EBA’s supervisory expectations and establish clear evidence and reporting channels before 2026-11-12.
• Circle should confirm the allocation of responsibilities between the EBA and ACPR, including supervisory contacts, escalation procedures, information requests, and documentation ownership for prudential and organisational matters.
• Crypto-asset service providers should reassess their USDC due diligence, product governance, liquidity, redemption, custody, safeguarding, and operational-risk controls in light of the significant-EMT designation.
• Firms using USDC should identify exposures in client assets, settlement, treasury, collateral, and payment flows and assess whether updated counterparty, liquidity, concentration, and business-continuity assessments are appropriate.
• Compliance teams should monitor EBA and ACPR communications, supervisory-college activity, and any subsequent guidance or requests concerning significant EMT reporting and recovery or redemption planning.
• Firms operating across the EU and United States should review information-sharing, incident-notification, and cross-border supervisory arrangements, noting the EBA’s memorandum of understanding with the New York State Department of Financial Services.

What changed

USDC will be subject to the MiCA framework for significant EMTs from 2026-11-12. The EBA will assume direct supervisory responsibility for own-funds requirements, the reserve of assets, liquidity requirements, and recovery and redemption plans; the ACPR will continue supervising governance, qualifying holdings, fit and proper assessments, outsourcing, and conflicts of interest. Under MiCA Articles 56 and 43(1), an EMT is classified as significant where at least three significance criteria are met during the applicable reporting periods.

Key dates

2026-08-27

The Bank of England announced deferral of the entire November 2026 RTGS standards release, including CHAPS messaging standards; Swift announced the corresponding Standards Release delay on the same date.

2026-12-31

Swift has indicated that it will provide an update on the optimal timing and approach for the structured-address change by December 2026 at the latest; this is an expected communications milestone, not a confirmed implementation deadline.

Suggested considerations

• Firms should update regulatory-change inventories and project plans to record that the November 2026 RTGS and CHAPS standards release has been deferred, without assuming that the change has been cancelled.
• CHAPS and RTGS participants should obtain the BoE’s revised implementation timetable and monitor the BoE ISO 20022 implementation page, participant communications and Swift governance updates, including the expected update by December 2026 at the latest.
• Compliance and payments teams may wish to preserve completed analysis and technical preparations for structured or hybrid postal addresses, while reassessing sequencing, testing windows, release dependencies and vendor delivery dates against the revised timetable.
• Firms should distinguish the deferred BoE/CHAPS release from any other payment-system or bilateral requirements that may continue on their original schedules, and should confirm the treatment of address validation, message rejection, exception handling and operational support with relevant counterparties and vendors.
• Technology and operations teams should maintain regression-test environments and data-quality remediation plans so that implementation can resume without restarting discovery or delaying future mandatory testing.
• Firms using both CHAPS/RTGS and Swift CBPR+ should assess whether the coordinated deferral changes their customer communications, correspondent-bank testing, operational-resilience scenarios, payment-routing controls and incident-management assumptions.
• Governance committees may wish to record the deferral as a schedule and dependency change rather than as a reduction in scope, because the BoE states that the November release is deferred in its entirety and provides no indication that the underlying standards work is withdrawn.

What changed

The November 2026 RTGS standards release will not proceed as originally planned and has been deferred in its entirety rather than being split into separate changes. This includes the RTGS messaging standards applicable to CHAPS payments. The decision maintains alignment with Swift’s deferred CBPR+ release and means that the previously expected 2026-11-14 removal of fully unstructured postal addresses should not be treated as the operative BoE/Swift implementation date; Swift has indicated that it will consult market participants and provide an update by December 2026 at the latest.

Key dates

2026-05-22

Switzerland added 115 natural persons and organisations to its Russia-related sanctions list; approximately 2,790 persons, companies, and organisations are now subject to asset freezes in connection with Russia’s war against Ukraine.

2026-08-19

The Federal Council decided to adopt the further measures of the EU’s 20th Russia sanctions package according to Switzerland’s established practice.

2026-08-20 Deadline

The new measures entered into force, including the prohibition on using Russian platforms for crypto-asset transfers and exchanges and the prohibition on supporting development of specified Russian crypto-assets such as the digital rouble.

Suggested considerations

• Firms should consider updating sanctions screening rules, prohibited-platform lists, wallet and counterparty controls, and transaction-monitoring scenarios to identify Russian crypto-asset platforms and indirect use of those platforms.
• Crypto-asset firms should consider mapping all transfer, exchange, custody, brokerage, technical-support, wallet-access, and infrastructure services against the applicable provisions of the Ordinance on Measures connected with the Situation in Ukraine, including the newly prohibited Russian platforms and specified Russian crypto-assets.
• Compliance teams may wish to review exposure to the digital rouble and other Russian or rouble-linked crypto-assets, including holdings, listings, liquidity provision, development support, transfers, and third-party integrations, and document any required exit or blocking decisions.
• Firms should consider validating that assets of sanctioned natural persons, companies, and organisations are blocked and that affected business relationships are reported to SECO in accordance with the sanctions ordinance.
• Firms should consider establishing or refreshing procedures for prompt escalation of sanctions-related suspicions, including additional clarifications under Article 6 GwG and an immediate Article 9 GwG report to the Money Laundering Reporting Office where suspicions cannot be dispelled.
• Senior compliance and operations owners may wish to evidence implementation from 2026-08-20 through control attestations, blocked-transaction testing, vendor and platform due diligence, and documented review of open Russian-related relationships.

What changed

The Switzerland-Russia sanctions regime now prohibits the use of Russian platforms for crypto-asset transfers and exchanges, targeting alternative payment channels that could facilitate sanctions circumvention. It also prohibits support for the development of specified Russian crypto-assets, including the digital rouble; independent market commentary places this measure alongside restrictions concerning Russian crypto-asset service providers, sanctioned trading venues, wallet or account access, technical assistance, and certain rouble-backed assets such as RUBx and A7A5, although the FINMA...

Key dates

2026-08-18

The competent UN Sanctions Committee amended the ISIL (Da’esh) and Al-Qaida sanctions list; the amendment became directly applicable in Switzerland.

2026-08-19

SECO updated the SESAM database and published the Swiss sanctions-list adjustment.

2026-08-20

FINMA published the updated sanctions notice describing the amendment and related financial-intermediary obligations.

Suggested considerations

• Compliance teams may wish to obtain the 2026-08-19 SESAM update and identify precisely which persons, companies or organisations were added, amended or removed.
• Firms should consider refreshing sanctions-screening data and screening customers, beneficial owners, counterparties, payment parties, securities positions and existing business relationships against the amended entries without delay.
• Where a potential match is identified, firms should consider applying the relevant prohibitions, preventing disposal or transfer of assets, documenting the match analysis and escalating the case under their sanctions procedures.
• Firms should consider reporting affected business relationships and frozen assets to SECO in accordance with SR 946.231.08 and retaining evidence of the report and asset-freeze decision.
• A SECO sanctions report should not be treated as a substitute for AML controls; where indicators give rise to suspicion, compliance teams may wish to conduct the additional clarifications required by Article 6 GwG and file an immediate MROS report under Article 9 GwG if the suspicion cannot be dispelled.
• Firms with delegated or outsourced screening may wish to verify that vendors refreshed their Swiss sanctions data after 2026-08-19 and that payment and transaction-monitoring controls cover the amended list.

What changed

The sanctions list under the Swiss Ordinance of 2025-03-21 on measures against persons and organisations associated with ISIL (Da’esh) and Al-Qaida (SR 946.231.08) was amended following the UN committee decision of 2026-08-18. The publication does not identify the amended entries or specify whether they are new designations, amendments or delistings; firms should therefore reconcile the current SESAM data against their prior screening population. The amendment applies in Switzerland directly and without a separate Swiss legislative adoption step.

Key dates

2026-08-14

The competent UN sanctions committee amended the ISIL (Da’esh) and Al-Qaida sanctions list; the amendment became directly applicable in Switzerland under the applicable automatic-implementation framework.

2026-08-17

SECO updated the Swiss-authoritative SESAM sanctions database and published the corresponding list adjustment.

2026-08-19

FINMA published its notice reporting the SECO sanctions-list update.

Suggested considerations

• Compliance teams may wish to retrieve the 17 August 2026 SESAM update and reconcile it against the prior list, recording all additions, removals and amendments and preserving the source version used.
• Firms should consider rerunning customer, beneficial-owner, counterparty, payment, trade and custody screening against the amended list, including historical transactions and open orders where their risk-based controls require retrospective review.
• Firms should consider reviewing transliterations, aliases, dates of birth, nationality, incorporation data and other identifiers for any newly listed individual or entity to reduce false negatives and false positives.
• Where a potential match is identified, firms should consider applying the prohibitions and asset-freeze requirements under SR 946.231.08, escalating the case under their sanctions procedures and assessing whether notification to SECO is required.
• Compliance teams may wish to verify that vendor feeds, transaction-screening systems, watchlists, case-management workflows and manual escalation procedures reflect the direct-applicability model and the 17 August SESAM update date.
• Firms should consider documenting the timing of list ingestion, screening completion, disposition of alerts, any blocked or frozen assets, and any reports or licence requests submitted to SECO for audit and supervisory purposes.

What changed

The UN sanctions committee changed the list of sanctioned individuals, companies and organisations covered by SR 946.231.08. Switzerland applies the change directly, without a separate Swiss legislative or regulatory adoption step. SECO updated SESAM, the SECO Sanctions Management database described as authoritative for Switzerland, on 17 August 2026 and published the amendment on its website.

Key dates

2026-08-17

EAER amended Annexes 12, 13 and 14 and SECO updated the SESAM sanctions database.

2026-08-18 Deadline

The amendment became legally effective at 23:00 Swiss time; affected prohibitions, asset freezes and SECO reporting obligations applied from that time.

Suggested considerations

• Compliance teams may wish to obtain the effective 2026-08-18 23:00 SESAM dataset and run an immediate rescreening of customers, beneficial owners, authorised signatories, counterparties, payment beneficiaries, securities positions and relevant transaction history.
• Firms should consider applying the Article 16 asset-freeze and availability prohibitions to positive matches, including assets or economic resources controlled indirectly, and escalating potential matches for ownership-and-control analysis rather than relying only on exact-name screening.
• Financial intermediaries should consider reporting affected business relationships and frozen assets to SECO without delay in accordance with the ordinance, while documenting the screening timestamp, match disposition, freeze decision and notification trail.
• Teams may wish to review pending and recurring Iran-related payments against Article 21, including the CHF 10,000 SECO reporting threshold, the five-working-day reporting period, and the CHF 50,000 prior-authorisation threshold.
• A SECO sanctions report should not be treated as a substitute for AMLA analysis: where circumstances create suspicion, firms should consider additional clarifications under Article 6 AMLA/GwG and an immediate MROS report under Article 9 AMLA/GwG if the suspicion cannot be dispelled.
• Firms should consider reviewing delisted and amended entries separately, because removal from an Iran annex does not necessarily resolve exposure under other Swiss, UN or foreign sanctions regimes or eliminate unrelated AML, proliferation-financing or reputational-risk concerns.
• Compliance and operations teams may wish to confirm that screening vendors, payment filters, case-management workflows, correspondent-bank controls and sanctions procedures recognise the 23:00 Swiss-time effective moment and preserve an auditable change-management record.

What changed

The amendment updates the Swiss SESAM sanctions database and the designation annexes of the Ordinance of 12 December 2025 on measures against the Islamic Republic of Iran. Six individuals were delisted, one entity record was amended, and two individuals and one entity were newly listed; the publication does not identify the parties in the FINMA notice itself, so firms should rely on the current SECO SESAM data rather than the notice's entry counts alone.

Key dates

2026-08-14

EAER amended Annexes 2 and 14a of the Ukraine Ordinance; one entity was removed from Annex 14a and 610 Annex 2 individual and entity entries were amended.

2026-08-17 Deadline

The amendments and resulting prohibitions, asset-freezing requirements and reporting implications take effect at 23:00 Swiss time; firms should have implemented screening and control changes by this time.

Suggested considerations

• Compliance teams should load the amended Annex 2 and Annex 14a data into sanctions-screening systems and complete identifier, alias, ownership and account-linkage checks before the 17 August 2026 23:00 effective time.
• Firms should compare the pre-amendment and post-amendment lists to distinguish the Annex 14a deletion from the 610 amended Annex 2 entries and should avoid treating an amended record as cleared without validating the current consolidated list.
• Firms should review customers, beneficial owners, counterparties, payment instructions, securities positions, custody assets and correspondent relationships against the amended records, including possible indirect ownership or control links.
• Where a match is confirmed, firms should consider stopping prohibited activity, freezing relevant funds and economic resources, restricting access in accordance with the Ordinance, and reporting the affected business relationship to SECO using the applicable reporting channel and form.
• For suspected sanctions evasion, inconsistent customer information or other money-laundering indicators, compliance teams may wish to document the Article 6 AMLA enhanced clarification and assess whether an immediate Article 9 AMLA report to the Money Laundering Reporting Office is required.
• Firms should document screening-rule changes, alert disposition, freeze decisions, SECO notifications, AMLA escalation decisions and any controlled release following the Annex 14a removal. Any unblocking should be preceded by checks for separate Annex 2 designation, ownership or other sanctions grounds.

What changed

The EAER amended Annex 2 and Annex 14a of SR 946.231.176.72. The official government notice indicates that one entity was removed from Annex 14a and the entries concerning 610 individuals and entities were amended in Annex 2; the publication does not state that all 610 entries are new designations, so firms should obtain and compare the underlying consolidated and delta lists before determining the precise status of each relationship. Financial intermediaries must implement the applicable prohibitions, freeze assets of sanctioned persons, and report affected business relationships to SECO.

Key dates

2026-08-13

The competent UN Sanctions Committee amended the ISIL (Da’esh) and Al-Qaida list; independent notices describe amendments to four entries.

2026-08-14

SECO updated the Swiss SESAM database and published the corresponding Swiss sanctions-list update.

2026-08-17

FINMA published its updated sanctions notice drawing attention to the directly applicable Swiss list change.

Suggested considerations

• Compliance teams may wish to obtain the amended UN list and the updated SESAM data, identify the three amended individuals and one amended entity, and map all aliases, dates of birth, nationalities, addresses, registration details and other identifiers into screening systems.
• Firms should consider immediate rescreening of customers, beneficial owners, authorised signatories, counterparties, vendors, payment beneficiaries and relevant historical transactions against the amended data.
• Where a potential match is identified, firms should consider suspending the relevant transaction or relationship pending a documented false-positive assessment and escalating a confirmed or unresolved match to sanctions, legal and MLRO governance channels.
• For a confirmed match, firms should consider applying the asset-freeze restrictions under SR 946.231.08, preventing funds or economic resources from being made available directly or indirectly to or for the benefit of the designated person or entity, and assessing applicable Swiss notification and reporting requirements.
• Firms should retain evidence of the SESAM and screening-data update, screening timestamps, alert dispositions, approvals, transaction holds and any regulatory or law-enforcement communications.
• Control owners may wish to test whether outsourced screening providers, payment filters, correspondent-bank interfaces and crypto blockchain analytics received the update without delay.
• Compliance teams may wish to note the market reading reflected in parallel official-industry notices: the practical expectation is operational list maintenance and prompt rescreening, not merely awareness of the FINMA publication.

What changed

The list entries covered by the Ordinance of 2025-03-21 on Measures Against Persons and Organisations Connected with ISIL (Da’esh) and Al-Qaida (SR 946.231.08) were amended; the available public notices indicate amendments to three individuals and one entity, rather than a new standalone FINMA rule. The amendments became directly applicable in Switzerland through the UN sanctions-list mechanism, and SECO incorporated them into SESAM on 2026-08-14.

Key dates

2026-09-03 Deadline

Weekly commodity derivatives position reporting framework goes live; updated weekly reporting requirements apply from this date

2026-08-14

ESMA published the confirmation of the go-live date and availability of updated technical documentation

Suggested considerations

• Compliance teams may wish to confirm whether their commodity derivatives reporting population is in scope for the weekly position reporting regime.
• Firms may wish to validate that their internal reporting logic aligns with XML schema version v2.0 and the updated validation rules.
• Operations and controls teams may wish to complete end-to-end testing against the updated reporting instructions before 2026-09-03.
• Firms may wish to reconcile source data, cut-off processes, and approval workflows to ensure weekly submission can be produced on time.
• Compliance teams may wish to monitor for any national competent authority implementation guidance or venue-specific instructions affecting submission mechanics.

What changed

The publication confirms the go-live date for the weekly commodity derivatives position reporting framework after ESMA’s earlier postponement. The reporting process will move to the updated technical framework, including new reporting instructions, XML schema version v2.0, and associated validation rules. The key change is not a policy redesign but a mandatory implementation milestone: firms in scope will need to file weekly reports in the new format from 2026-09-03.

Key dates

10 August 2026

- The WBF amended Annexes 2 and 8 of the Ukraine sanctions ordinance and published the changes on its website

12 August 2026 Deadline

- The amended measures are published by FINMA and become operationally relevant for compliance teams

12 August 2026, 23:00

- The amended sanctions measures enter into force

Suggested considerations

• Firms must immediately screen customers, counterparties, and beneficial owners against the updated Annex 2 and Annex 8 listings and identify any matches.
• Firms must block and freeze any assets or economic resources belonging to sanctioned persons covered by the updated ordinance.
• Firms must report the affected business relationships to SECO in accordance with the ordinance.
• Firms must perform additional fact-finding under Article 6 GwG/AMLA whenever the sanctions hit or surrounding facts create suspicion that cannot be dismissed.
• Firms must submit an immediate suspicious activity report to MROS under Article 9 GwG/AMLA if the suspicion remains unresolved after additional clarifications.

What changed

• - The WBF amended Annex 2 and Annex 8 of the Swiss ordinance on measures connected with the situation in Ukraine, updating the sanctions list and/or restrictions applicable under SR 946.231.176.72.
• The amended measures become effective today at 23:00, meaning firms must be ready to apply the updated prohibitions without delay.
• Financial intermediaries must implement the prohibitions contained in the ordinance, which includes sanctions-related restrictions beyond ordinary asset freezes.
• Financial intermediaries must freeze the assets of sanctioned persons covered by the update.
• Financial intermediaries must report affected business relationships to SECO.

Key dates

10 August 2026

- The WBF amended Annex 2 of the Sudan sanctions ordinance, according to the related Swiss official notice

11 August 2026

- The updated Sudan sanctions measures enter into force at **23:00**

Suggested considerations

• Firms must update sanctions screening systems immediately to reflect the amended Sudan Annex 2 list in SESAM.
• Firms must identify and freeze any assets or economic resources belonging to or controlled by newly listed persons.
• Firms must block prohibited transactions and services involving sanctioned Sudan-related persons or entities.
• Firms must review all existing customer, counterparty, and beneficial owner relationships for matches against the updated list.
• Firms must report affected business relationships to SECO in line with the ordinance.

What changed

• - The WBF amended Annex 2 of the ordinance of 25 May 2005 on measures against Sudan (SR 946.231.18).
• The Swiss authoritative sanctions database SESAM was adjusted to reflect the change.
• The changes take effect today at 23:00, making the update operationally urgent for Swiss financial intermediaries.
• Financial intermediaries must implement the prohibitions under the ordinance, including freezing assets of sanctioned persons.
• Financial intermediaries must report affected business relationships to SECO.

Key dates

10 August 2026

- The WBF amended the list of sanctioned persons, companies, and organizations under the South Sudan measures

11 August 2026

- FINMA published the updated sanctions notice and stated that the urgent amendment would be published on the WBF website the same day

11 August 2026, 23:00

- The updated sanctions entry takes effect and becomes enforceable in Switzerland

Suggested considerations

• Re-screen customers, counterparties, beneficial owners, and payment flows against the updated SESAM sanctions data immediately.
• Freeze any assets or economic resources that match the updated South Sudan sanctions list as soon as the entry becomes effective.
• Block prohibited dealings and ensure no funds or economic resources are made available, directly or indirectly, to listed persons or entities.
• Report any affected business relationships to SECO without delay where a match is identified.
• Perform additional clarifications under Art. 6 GwG when sanctions hits or related suspicion indicators arise.

What changed

• - The WBF amended Annex 2 of the Swiss ordinance on measures against the Republic of South Sudan (SR 946.231.169.9), and FINMA relayed that the authoritative Swiss sanctions database SESAM has been...
• The urgent amendment takes effect today at 23:00, meaning firms must treat the revised list as enforceable from that time onward.
• Financial intermediaries must implement the prohibitions contained in the ordinance for the sanctioned parties.
• Financial intermediaries must freeze assets of sanctioned persons, companies, and organizations.
• Financial intermediaries must report affected business relationships to SECO.

Key dates

16 July 2026

- The competent UN sanctions committee changed the list of sanctioned persons, companies, and organizations for the Democratic Republic of Congo

17 July 2026

- SECO updated the Swiss sanctions database SESAM and published the change for Switzerland

17 July 2026

- The updated sanctions lists became directly applicable in Switzerland without delay

Suggested considerations

• Review sanctions screening results immediately against the updated Congo-related list in SESAM and any internal watchlists to identify matching clients, counterparties, and beneficial owners.
• Freeze assets and block prohibited dealings involving newly designated persons, companies, or organizations as required by the ordinance.
• Report affected business relationships to SECO in line with the sanctions ordinance requirements.
• Perform enhanced internal clarifications under Article 6 GwG/AMLA whenever a sanctions hit or other red flags create suspicion.
• File an immediate suspicious activity report with the Money Laundering Reporting Office under Article 9 GwG/AMLA if doubts cannot be resolved.

What changed

• - The UN sanctions committee amended the list of sanctioned individuals, companies, and organizations relating to the Democratic Republic of Congo on 16 July 2026.
• The change is directly applicable in Switzerland, so firms cannot wait for a separate Swiss implementing act before acting on the updated list.
• SECO updated the Swiss sanctions database SESAM on 17 July 2026 and published the update on its website.
• Financial intermediaries must implement the prohibitions set out in the ordinance, including freezing the assets of sanctioned persons.
• Financial intermediaries must report the affected business relationships to SECO.

Key dates

In or around July 2026

- The Bank of England emails invoices for the Bank of England Levy to Levy Payers, setting out the levy amount payable for the 2026/27 Levy Year

Levy Year 2026/27 (1 April 2026 – 31 March 2027, by inference from BoE and FCA levy year conventions)

- Period to which the Bank of England Levy Requirement and the Notification Document relate

Suggested considerations

• Confirm internally which group entities are Levy Payers for the 2026/27 Bank of England Levy and reconcile this against the scope set out in the Bank of England Levy Framework Document and related BoE fee regime policy statements.
• Review the Bank of England Levy Notification Document for 2026/27 alongside the 2024 Levy Framework Document and prior-year notices to understand how the bank’s individual assessment may change relative to 2025/26.
• Ensure that Recognised Contact and Invoice Contact details submitted to the Bank are up to date, consistent with Statistical Notice 2026/03 requirements, so that levy invoices and operational communications are received and actioned promptly.
• Set up or confirm internal approval, purchase order and payment processes to ensure invoices for the Bank of England Levy 2026/27 are validated, coded and paid in accordance with the Bank’s payment terms and internal delegation of authority.
• Update regulatory cost forecasts, budgets and FTP (funds transfer pricing) or product pricing models to reflect the 2026/27 levy quantum and any change in allocation across entities or business lines.

What changed

• - The Bank of England has released the annual Notification Document for the 2026/27 Bank of England Levy, confirming the anticipated levy requirement for the current levy year under paragraph 1.16 of...
• For 2026/27, the Bank of England Levy is set at £700 million, reflecting both funding of the Bank’s policy functions and the transition away from the legacy Cash Ratio Deposits (CRD) scheme, with a...
• Within this £700 million total, the Bank is recovering £343 million as net Levy from industry, separate from operational policy costs of approximately £357 million, with £307 million specifically...
• The Levy sits within the Bank’s overall fee and levy regime which is constrained such that the Bank’s operating budget and core levies may increase by no more than consumer price inflation in...
• The Notification Document underlines that invoices for individual Levy Payers will follow, consistent with the Framework and associated terms and conditions, and that levy payers will be billed by...

Key dates

30 April 2023

- ESMA’s withdrawal of recognition decisions for six Indian CCPs, including CCIL, took effect under EMIR, prohibiting EU clearing members and trading venues from using those CCPs for EU‑regulated clearing activity

Earlier 2026

- ESMA and the Reserve Bank of India sign a Memorandum of Understanding establishing supervisory cooperation arrangements for Indian CCPs, including CCIL

30 June 2026

- ESMA’s decision recognising CCIL as a Tier 1 third‑country CCP under EMIR takes effect, and CCIL is added to ESMA’s updated list of recognised TC‑CCPs

Suggested considerations

• Confirm and document that CCIL now appears on ESMA’s official list of recognised third‑country CCPs and that its status is Tier 1 under EMIR, updating internal CCP eligibility lists and counterparty approval registers accordingly.
• Review and update internal clearing policies, procedures and governance documents to reflect that EU entities may again clear eligible products through CCIL, subject to EMIR and firm‑specific risk appetite.
• Reassess and formally approve CCIL within the firm’s CCP due‑diligence framework, including credit risk, operational risk, legal risk and jurisdictional risk assessments, taking account of the RMU with RBI and the Tier 1 classification.
• Update EMIR compliance mappings to ensure that trades cleared via CCIL are correctly treated for clearing obligation, risk‑management, reporting and collateral requirements, and that no activity is undertaken through non‑recognised CCPs in India.
• Coordinate with front‑office, clearing operations and collateral management teams to re‑open or adjust clearing access to CCIL (e.g. membership arrangements, client clearing channels, account structures, margin and collateral workflows).

What changed

• - CCIL is formally recognised as a Tier 1 third‑country central counterparty (TC‑CCP) under Regulation (EU) No 648/2012 (EMIR), allowing it to offer clearing services to EU clearing members and EU...
• The recognition is contingent on an equivalence decision adopted by the European Commission for the Indian regulatory framework applicable to CCPs under EMIR Article 25.
• ESMA has assessed and confirmed effective supervision and enforcement by the Reserve Bank of India (RBI) over CCIL as a prerequisite for recognition.
• ESMA and RBI have put in place cooperation arrangements, formalised through a Memorandum of Understanding, to support ongoing supervisory coordination over CCIL’s activities that affect EU...
• CCIL is now included in ESMA’s updated list of recognised third‑country CCPs, clarifying that EU firms may use CCIL’s clearing services while complying with EMIR’s clearing and risk‑management...

Key dates

31 July 2026

- Updated Form PL definitions are scheduled to be published by the Bank of England

Q1 2027

- First reference period for which the updated Form PL definitions are effective

May 2027 Deadline

- Submission deadline for Q1 2027 Form PL reporting using the revised definitions and tax treatment

Suggested considerations

• Review the updated Form PL definitions in full once they are published on 31 July 2026 to understand all changes to income, expenditure and tax classification.
• Map the revised Form PL tax definition (PL16 / PL.01.01.01 C0010 R1600) to internal chart of accounts and tax reporting structures, ensuring correct identification of taxes on production and related charges.
• Update internal regulatory reporting systems, data transformation rules and validation checks to reflect the new Form PL definitions ahead of the Q1 2027 reporting period.
• Revise internal reporting policies, procedures and documentation for Form PL to incorporate the updated tax treatment and any other definitional changes.
• Train finance, regulatory reporting and data teams on the revised Form PL guidance, with particular focus on the redefined tax items and their distinction from other tax and fee categories.

What changed

• - The Bank of England will update the Form PL definitions to improve consistency and alignment with the ONS UK National Accounts requirements, specifically for income and expenditure reporting.
• The definition and reporting guidance for tax (PL16 / PL.01.01.01 C0010 R1600) are being revised to clarify the treatment of items classified as taxes on production and related charges.
• The updated definitions will apply to all Form PL line items, with particular emphasis on ensuring more precise classification of tax-related items within profit and loss reporting.
• The Bank of England does not anticipate major changes in reported figures but expects improved clarity and consistency in how firms map internal accounting data to Form PL categories.
• The updated definitions will replace the current Form PL guidance and become the operative standard for all reporting institutions from the Q1 2027 reporting period.

Key dates

27 October 2022

- Circular CSSF 22/822 was issued, establishing the framework for using FATF statements on high-risk jurisdictions and jurisdictions under increased monitoring

19 June 2026

- The annex was updated to this version date, reflecting the current FATF jurisdiction lists and associated risk posture

22 June 2026

- CSSF published the annex on its website, making the updated reference document operationally relevant for supervised firms

Suggested considerations

• Review your AML/CFT country-risk methodology and update it to reflect the 19 June 2026 FATF/CSSF jurisdiction list.
• Re-screen customers, beneficial owners, counterparties, and transactions against the updated high-risk and monitored jurisdiction lists.
• Apply enhanced due diligence for relationships and transactions involving high-risk jurisdictions, and escalate where counter-measures may be required.
• Reassess risk ratings for customers linked to jurisdictions under increased monitoring and document the rationale for any continued onboarding, retention, or exit decisions.
• Update automated screening rules, transaction-monitoring scenarios, and onboarding checklists so they use the current CSSF annex version.

What changed

• - CSSF republished the annex to Circular CSSF 22/822 in a Version of 19 June 2026, meaning firms should treat this as the current Luxembourg reference point for FATF jurisdiction screening and...
• The annex distinguishes between high-risk jurisdictions subject to enhanced due diligence and, where appropriate, counter-measures, and jurisdictions under increased monitoring that require...
• The publication incorporates the FATF’s current statements on jurisdictions with strategic AML/CFT/CPF deficiencies, which is the basis for operational country-risk controls used by...
• The related Circular CSSF 22/822 remains the framework document that instructs professionals to use FATF statements when assessing jurisdictional ML/TF/PF risk.

Key dates

19 June 2026

- CSSF communiqué published announcing the two new merger authorisation forms for UCITS domestic mergers and UCITS outbound cross‑border mergers

19 June 2026 Deadline

- **Start of mandatory use of the new forms** for all **new merger authorisation applications** filed with the CSSF; applications submitted from this date must use the new templates and be sent to [email protected]

Suggested considerations

• Identify all current and planned UCITS domestic and outbound cross‑border merger projects and determine which will have CSSF authorisation requests submitted on or after 19 June 2026 so that the new forms are used.
• Download and review in detail the “Application form for authorisation of a UCITS domestic merger” and “Application form for authorisation of a UCITS outbound cross‑border merger” and map each field of the forms to existing internal data sources and documents.
• Update internal UCITS merger procedures and checklists to replace any existing CSSF filing templates with the new standardised forms and to include the requirement that all merger authorisation applications are submitted to [email protected].
• Train legal, product, operations and compliance staff involved in UCITS mergers on how to complete the new forms accurately, including coordination of information across the prospectus, KIIDs/KIDs, common draft merger terms, depositary statements and shareholder communications.
• Review and, where necessary, update board and governance templates (board minutes, resolutions approving merger terms) to ensure they produce all information that the new forms require to be confirmed or attached.

What changed

• - The CSSF has created a standardised “Application form for authorisation of a UCITS domestic merger” specifically for merger authorisation requests where both merging and receiving UCITS are...
• The CSSF has created a standardised “Application form for authorisation of a UCITS outbound cross‑border merger” for mergers where the merging UCITS is Luxembourg‑authorised and the receiving UCITS...
• Use of the two new forms is mandatory for all new merger authorisation applications submitted to the CSSF from 19 June 2026 onwards; legacy formats (ad‑hoc letters or bespoke templates) may no longer...
• Each application form must be “duly completed” and accompanied by all documents required under the applicable UCITS merger regulations, including the common draft terms of merger, updated prospectus...
• The CSSF has specified a centralised submission channel for these applications: completed forms and supporting documentation must be sent to [email protected], aligning merger filings with the...

Key dates

08 June 2012

- Original Ordinance on Measures against Syria (SR 946.231.172.7) entered into force, establishing the sanctions framework and Annex 7

15 June 2026

- WBF amended the list of sanctioned persons, companies, and organisations in Annex 7 of the Syria sanctions ordinance and updated the Swiss SESAM sanctions database; SECO published the updated list on its website

16 June 2026 Deadline

- The amended measures, including changes to the Annex 7 Syria sanctions list, enter into force at 23:00, from which time financial intermediaries must fully apply the new listings and obligations

Suggested considerations

• Perform an immediate update of sanctions screening lists and tools to incorporate the revised Syria Annex 7 entries as reflected in the SESAM database.
• Identify all customers, beneficial owners, counterparties, and transactions that match or potentially match the updated Syria sanctions list, including retrospective screening where systems permit.
• Freeze without delay all assets and economic resources held or controlled by persons, entities, or organisations that are newly listed or affected by changes under the updated Annex 7.
• Block any new or pending transactions that would make funds or economic resources available, directly or indirectly, to persons and entities designated under the updated Syria list.
• Report all affected business relationships and frozen assets to SECO in accordance with the reporting requirements of the Syria sanctions ordinance and SECO guidance.

What changed

• - The WBF has amended Annex 7 of the Ordinance of 8 June 2012 on Measures against Syria (SR 946.231.172.7), changing the list of sanctioned persons, companies, and organisations connected to Syria.
• The Swiss sanctions database SESAM (SECO Sanctions Management) has been updated to reflect these changes, and SECO has published the amended list on its website.
• The updated measures, including asset-freeze and prohibition obligations, enter into force on 16 June 2026 at 23:00, making the revised Syria list immediately enforceable for Swiss-supervised...
• Financial intermediaries are explicitly required to implement the applicable prohibitions, including restrictions on making funds or economic resources available to listed persons, entities, and...
• Financial intermediaries must freeze the assets and economic resources of the persons, companies, and organisations newly listed, relisted, or otherwise affected by the Annex 7 amendment.

Key dates

04 March 2022

– Original Ordinance on measures in connection with the situation in Ukraine (SR 946.231.176.72) enters into force, establishing the framework for Annex 8 sanctions and related financial measures

15 June 2026

– WBF amends Annex 8 of the Ordinance and publishes the changes on its website, updating the list of sanctioned persons and entities

15 June 2026 Deadline

– The amended measures under Annex 8 enter into force at 23:00, from which time financial intermediaries must have implemented the new prohibitions, asset freezes, and reporting processes

Suggested considerations

• Review the updated Annex 8 of SR 946.231.176.72 as published by the WBF and obtain the latest Swiss sanctions-list data (including from SESAM/SECO where used) before the 23:00 effective time.
• Update internal sanctions screening lists, vendor‑provided screening tools and watchlist filters to incorporate all new and amended entries in Annex 8.
• Run an immediate batch screening of all customers, beneficial owners, controlling persons, counterparties, securities holdings and payment flows against the updated Annex 8 once the changes are operative.
• Identify all existing and pending business relationships that match updated Annex 8 entries and classify them as sanctioned in internal systems.
• Freeze without delay any assets, accounts, securities, or other economic resources belonging to, owned, held or controlled by persons and entities listed in Annex 8, in line with the Ordinance.

What changed

• - Annex 8 of the Ordinance of 4 March 2022 on measures in connection with the situation in Ukraine (SR 946.231.176.72) has been amended by the WBF to update the list of sanctioned persons and...
• The WBF has published the updated Annex 8 and associated sanctions-list changes on its website, making these changes the operative reference for Swiss sanctions screening and asset-freeze obligations.
• The amended measures enter into force on 15 June 2026 at 23:00, creating an immediate and time‑critical requirement for financial intermediaries to align their controls with the new Annex 8 content.
• Financial intermediaries are instructed to implement all prohibitions arising from the Ordinance, including any new or expanded restrictions connected to the updated Annex 8 listings.
• Financial intermediaries must freeze the assets of persons and entities newly designated or otherwise affected by the Annex 8 amendment and ensure no prohibited transactions or services are carried...

Key dates

25 May 2005

- Erlass der Verordnung über Massnahmen gegenüber Sudan (SR 946.231.18), die den rechtlichen Rahmen für schweizerische Sudan-Sanktionen schafft

04 June 2026

- Das WBF beschliesst und veröffentlicht die Änderung des Anhangs 2 der Verordnung über Massnahmen gegenüber Sudan (SR 946.231.18); die aktualisierte Sanktionsliste tritt in Kraft und ist ab diesem Datum anzuwenden

Suggested considerations

• Führen Sie umgehend einen Abgleich aller Kunden-, Konten- und wirtschaftlich Berechtigten-Stammdaten sowie relevanter Transaktionen gegen die aktualisierte Sudan-Sanktionsliste gemäss Anhang 2 der Verordnung SR 946.231.18 durch.
• Identifizieren und dokumentieren Sie alle Treffer (Hits) zu gelisteten Personen, Organisationen oder Einrichtungen und prüfen Sie diese formal (True Hit vs. False Positive) unter Anwendung eines dokumentierten, vier-Augen-prüfenden Verfahrens.
• Frieren Sie Vermögenswerte von bestätigten gelisteten Personen oder Einrichtungen unverzüglich ein, blockieren Sie Transaktionen und verhindern Sie jede direkte oder indirekte Bereitstellung von wirtschaftlichen Ressourcen, in Übereinstimmung mit der Sudan-Verordnung.
• Erstatten Sie umgehend die erforderlichen Meldungen an die zuständigen Bundesstellen (insbesondere SECO bzw. die im Sanktionsrecht vorgesehenen Behörden) sowie – soweit einschlägig – Verdachtsmeldungen an die Meldestelle für Geldwäscherei (MROS).
• Aktualisieren Sie Ihre Sanktions- und AML-Richtlinien, Arbeitsanweisungen und Kontrollpläne, um die neuen Sudan-spezifischen Listungen und Prozesse zur Vermögenssperre und Meldung explizit zu berücksichtigen.

What changed

• - Der Anhang 2 der Verordnung vom 25. Mai 2005 über Massnahmen gegenüber Sudan (SR 946.231.18) wurde durch Entscheid des WBF aktualisiert, was Änderungen an der Sanktionsliste (gelistete natürliche...
• Die aktualisierte Sanktionsliste zu Sudan ist für alle von der Verordnung erfassten Finanzintermediäre unmittelbar verbindlich und ist bei der Prüfung von Kunden, wirtschaftlich Berechtigten,...
• Vermögenswerte von neu gelisteten Personen oder Einrichtungen müssen gemäss Verordnung unverzüglich eingefroren und dürfen weder direkt noch indirekt zur Verfügung gestellt werden.
• Bereits bestehende Geschäftsbeziehungen zu neu gelisteten Personen oder Einrichtungen sind zu suspendieren bzw. abzuwickeln, soweit dies mit den gesetzlichen Vermögenssperren vereinbar ist.
• Institute sind verpflichtet, gefundene Treffer (Treffer bei Konten, Depots, Zahlungs- oder Handelsgeschäften) zu gelisteten Personen oder Einrichtungen den zuständigen Bundesstellen nach den...

Key dates

Mid‑June 2026 Deadline

– First LIVE submissions using Statistics Taxonomy v1.3.1 become due, covering **end‑May 2026** data; firms must use v1.3.1 for these returns and v1.3.0 instance documents will no longer be valid for submission

02 June 2026 – 12 June 2026

– BEEDS User Acceptance Testing (UAT) window for firms and software houses to test submissions using Statistics Taxonomy v1.3.1 in a non‑production environment, running in parallel with live reporting for some firms and returns

Suggested considerations

• Update internal reporting systems, data integration layers and XBRL engines so that all relevant BoE statistical returns are generated using Statistics Taxonomy v1.3.1 for end‑May 2026 reporting onwards.
• Review and update all XBRL instance document templates and configuration to ensure they reference the correct v1.3.1 entry points and filing indicators (XX.XX.XX format, e.g. FI.01.01).
• Decommission or phase out any dependency on the BoE Statistical Utility tool, and implement an alternative XBRL generation solution (recognised software provider or internal tooling) capable of producing valid v1.3.1 files.
• Conduct a detailed review of the BoE‑published change log, taxonomy package, sample files and XBRL filing manual to understand validation changes, DPM updates and implementation nuances that could cause submission failures.
• Schedule and complete end‑to‑end testing in the BEEDS UAT environment (where available) and in internal test environments to validate that v1.3.1 submissions pass all technical and business validations.

What changed

• - Bank of England Statistics Taxonomy v1.3.1 replaces v1.3.0 for statistical reporting under the BoE Statistics Taxonomy framework.
• The new taxonomy applies to LIVE submissions of end‑May data due from mid‑June 2026, meaning firms must generate those returns using v1.3.1.
• Reporting requirements and published definition documents remain unchanged, with the update limited to technical implementation changes (validation fixes, data point model changes and related...
• Taxonomy v1.3.1 is not backwards compatible with v1.3.0, so XBRL instance documents created under v1.3.0 will not be valid for submission once v1.3.1 is in force.
• Filing indicators are standardised across statistics reporting and now follow the format XX.XX.XX (for example, FI.01.01), requiring alignment of internal mapping and validation rules.

Key dates

17 October 2018

- Original Ordinance on Measures against Myanmar (SR 946.231.157.5) enters into force, establishing the sanctions framework and Annex 1

01 June 2026

- WBF amends the list of sanctioned persons, companies and organisations in Annex 1 of the Myanmar sanctions ordinance

02 June 2026

- SECO publishes the updated Myanmar sanctions list and SESAM data on its website

02 June 2026, 23:00

- The Myanmar sanctions list amendment enters into force and becomes binding for Swiss financial intermediaries

Suggested considerations

• Immediately screen all customers, beneficial owners, counterparties, and related parties against the updated Myanmar Annex 1 list using the current SESAM sanctions data as of the 23:00 effective time.
• Freeze without delay any assets, accounts, or other economic resources held or controlled by persons, entities, or organisations newly listed under the Myanmar sanctions ordinance.
• Block any new or existing transactions that would breach the prohibitions of the Myanmar sanctions ordinance in light of the updated Annex 1 list.
• Submit timely reports to SECO on all business relationships and frozen assets related to persons and entities listed in the updated Myanmar sanctions list, in line with the reporting provisions of the ordinance.
• Conduct additional due diligence and clarifications under Article 6 GwG where there are indications or suspicions of money laundering, terrorism financing, or sanctions breaches in connection with Myanmar-related relationships.

What changed

• - Annex 1 of the Ordinance of 17 October 2018 on Measures against Myanmar (SR 946.231.157.5) has been amended by the WBF, changing the list of sanctioned persons, companies and organisations.
• The SECO sanctions database SESAM (SECO Sanctions Management) has been updated to reflect the amended Myanmar sanctions list.
• The amendment to the Myanmar sanctions list and corresponding SESAM data becomes legally effective at 23:00 on the date indicated in the FINMA notice.
• Financial intermediaries are required to implement the prohibitions set out in the Myanmar sanctions ordinance with respect to the updated list, including blocking the assets of all listed persons,...
• Financial intermediaries must report business relationships affected by the Myanmar sanctions list changes to SECO in line with the sanctions ordinance.

Key dates

20 March 2025

– Executive Order 14243 is issued, setting an administrative objective to eliminate bureaucratic duplication and inefficiency, which this CFTC enhancement is designed to support

01 June 2026

– CFTC announces and launches the Portal enhancement permitting consolidated product self‑certification submissions for multiple closely related contracts

Suggested considerations

• Review and obtain the updated submission instructions on the CFTC Portal and ensure legal, compliance, and operations staff understand the consolidated filing functionality and any new formatting or data‑entry requirements.
• Update internal product approval and submission procedures (including Part 40 playbooks and checklists) to reflect the ability to file a single set of documents for multiple closely related contracts, and to define when consolidation is appropriate.
• Revise internal documentation templates (e.g., product term sheets, legal analyses, core principle compliance memos, risk assessments) so that they can explicitly support multiple closely related contracts in a single package where relevant.
• Adjust governance workflows (approvals, sign‑offs, and quality checks) so that:
• Each contract included in a consolidated submission is clearly identified and traceable, and

What changed

• - The CFTC Portal now supports consolidated product self‑certification submissions, enabling exchanges to file a single set of certification documents that apply to multiple closely related contracts...
• Exchanges are no longer required to upload multiple identical copies of supporting product certification documents when listing several closely related contracts; one shared documentation set can be...
• The enhancement is framed as an administrative/technical change to the filing process; it does not alter substantive legal standards for product self‑certification under the Commodity Exchange Act or...
• The CFTC has issued updated submission instructions on the Portal site specifying how to use the new consolidated filing functionality, including formatting and process guidance.
• Dedicated technical and non‑technical CFTC contacts have been identified (Howard Rosen for system use; Chris Goodman for product submission process questions), signaling that the Commission expects...

Key dates

End May 2026

– Reference date of the first LIVE reporting period to which Bank of England Statistics Taxonomy v1.3.1 applies (end‑May 2026 data)

25 May 2026

– Last date for software houses to email the BEEDS queries mailbox to request access to the BEEDS UAT environment for this specific UAT window

Mid June 2026 Deadline

– Due date window for LIVE submissions of end‑May 2026 statistical data under Taxonomy v1.3.1 via BEEDS LIVE

02 June 2026

– Opening of BEEDS UAT environment for the June testing window under Taxonomy v1.3.1 FINAL

12 June 2026

– Closing of BEEDS UAT environment for the June testing window

Suggested considerations

• Identify all Bank of England statistical returns in scope of Taxonomy v1.3.1 and confirm that internal reporting calendars and responsibilities reflect the end‑May 2026 effective period and mid‑June 2026 submission deadlines.
• Ensure that all in‑scope statistical reporting firms’ BEEDS LIVE user and firm information are accurate and up to date, so that automatic mirroring into the BEEDS UAT environment creates correct and controlled user profiles.
• Instruct software houses and third‑party vendors supporting Bank of England statistical reporting to request BEEDS UAT access by emailing the BEEDS queries mailbox no later than 25 May 2026 if they intend to participate in this UAT window.
• Coordinate with internal IT and vendors to schedule, prepare, and execute test submissions in BEEDS UAT between 02 June and 12 June 2026, covering all relevant entry points and reporting scenarios under Taxonomy v1.3.1.
• Implement or validate an alternative XBRL generation solution to replace the withdrawn Bank of England Statistical Utility Tool, and complete end‑to‑end testing (source data to BEEDS receipt) ahead of the mid‑June 2026 live submission deadline.

What changed

• - The Bank of England has opened a BEEDS UAT environment specifically for testing statistical submissions under Statistical Taxonomy v1.3.1 FINAL, distinct from the BEEDS LIVE production environment.
• A dedicated UAT window is set from 02 June to 12 June 2026, during which the UAT environment will run in parallel with live reporting for some firms and returns.
• Statistical reporting firms are automatically enabled for BEEDS UAT using their existing BEEDS LIVE firm and user information and do not need to request UAT access.
• Software houses that wish to use this UAT window must request access by emailing the BEEDS queries mailbox by a stated cut‑off date (25 May 2026).
• All principal and additional user details for firms will be mirrored from the BEEDS LIVE environment into BEEDS UAT, with UAT‑specific temporary passwords issued from the designated BEEDS UAT email...

Key dates

13 April 2026

- WBF publishes changes to Annexes 12 and 14 and updates SESAM database.

14 April 2026, 23:00 UTC

- Changes enter into force; asset freezes and prohibitions become mandatory.

Suggested considerations

• Screen client portfolios, accounts, and transactions against the updated SESAM database and Annexes 12/14 immediately.
• Freeze assets of any newly sanctioned or amended persons/entities without delay.
• Report all affected business relationships to SECO promptly.
• Conduct enhanced due diligence under GwG Art. 6 for any suspicion; if unresolved, file a suspicious activity report (SAR) with MROS under GwG Art. 9.
• Monitor FINMA's MyFINMA portal and website for ongoing updates; update internal sanctions screening systems.[User Query]

What changed

• - Amendments to Annexes 12 and 14 of the Ordinance SR 946.231.143.6, updating the list of sanctioned persons, companies, and organizations in the context of Iran sanctions.[User Query]
• Updates propagated to the SESAM database, published on the WBF/SECO website.[User Query]
• Standard requirements reiterated: Implement prohibitions, freeze assets of sanctioned parties, and report affected business relationships to SECO; SECO reporting does not exempt additional GwG Art.

Key dates

19 March 2026

- WBF amends Annex 8, removing 7 natural persons

20 March 2026, 23:00 UTC Deadline

- Changes enter into force; firms must adjust compliance systems accordingly

Suggested considerations

• Screen client databases and transaction records against the updated SESAM database to identify and release any asset freezes or restrictions on the 7 delisted persons, confirming no residual sanctions apply.
• Report any affected business relationships to SECO as per ordinance requirements; conduct additional due diligence under Art. 6 GwG if suspicions remain, and file SARs with the Money Laundering Reporting Office Switzerland (MROS) under Art. 9 GwG if unresolved.
• Update internal sanctions screening tools, policies, and staff training to reflect the SESAM changes; document all reviews for audit trails.
• Monitor FINMA's news and MyFINMA for further updates, as lists are continuously revised.

What changed

• - Amendment to Annex 8 of SR 946.231.176.72 by the Federal Department for Economic Affairs, Education and Research (WBF) on March 19, 2026, removing 7 natural persons from the sanctions list.
• Update to the official Swiss sanctions database SESAM (SECO Sanctions Management), published urgently on SECO's website.
• This delisting narrows the scope of asset freeze obligations under the ordinance, but core prohibitions on transactions, asset blocking, and reporting for remaining listed parties persist.

Key dates

March 19, 2026

- WBF amends Annex 8 and publishes the update

March 20, 2026, 23:00 Uhr Deadline

- Changes enter into force; sanctions screening and asset handling must reflect delistings immediately thereafter

Suggested considerations

• Screen and release assets: Review client portfolios and frozen assets linked to the 7 delisted persons; release any previously frozen assets unless other sanctions apply (e.g., via GwG AML checks).
• Update internal systems: Refresh sanctions screening tools with the latest SESAM data to avoid erroneous freezes or compliance breaches.
• Report to SECO if applicable: If assets were frozen and are now releasable, notify SECO of prior relationships; conduct GwG Art. 6 due diligence and report suspicions to the Money Laundering Reporting Office (MROS) under Art. 9 GwG if unresolved.
• Document changes: Maintain audit trails of screening adjustments to demonstrate compliance with ongoing supervisory obligations.

What changed

• - Removal of 7 natural persons from Annex 8, which lists designated individuals subject to asset freezes and other restrictive measures related to the Ukraine situation.
• Update to the SESAM sanctions database (SECO Sanctions Management), Switzerland's authoritative list aligned with EU sanctions.
• No new designations or additional prohibitions introduced; this is a delisting that narrows the scope of sanctions application.

Key dates

March 9, 2026

– WBF published updated sanctions list and modified SESAM database

March 10, 2026, 23:00 UTC

– Effective date for all regulatory changes (enforcement begins)

Immediate Deadline

– Financial intermediaries must implement prohibitions and freeze assets upon effectiveness

Suggested considerations

• *Implement Prohibitions: Execute all transaction bans and restrictions specified in the updated ordinance annexes
• *Asset Freezing: Immediately freeze all assets and funds of sanctioned persons, enterprises, and organizations identified in the updated SESAM database
• *Mandatory Reporting to SECO: Report all affected business relationships to the State Secretariat for Economic Affairs within required timeframes
• *Enhanced Due Diligence: Conduct additional investigations under Article 6 of the Anti-Money Laundering Act (GwG) when suspicious indicators arise
• *Suspicious Activity Reporting: If enhanced due diligence cannot eliminate suspicions, file mandatory reports with the Money Laundering Reporting Office (Meldestelle für Geldwäscherei) under Article 9 GwG without delay

What changed

• The regulatory update encompasses four substantive modifications:
• Annex 3: Expansion of the goods list subject to export/import restrictions
• Annexes 12, 13, and 14: Updates to the list of sanctioned persons, enterprises, and organizations subject to asset freezing and transaction prohibitions
• SESAM Database: The Swiss sanctions management database (SECO Sanctions Management) has been updated to reflect all changes, published urgently on the WBF website The changes represent a total...