new ordinance concerning the prevention of money laundering (MLO
SFBC) - Swiss Bankers Associations (SBA) new due diligence agreement
Zurich (ots) - The Swiss Bankers Association (SBA) has issued the
sixth version of the Due Diligence Agreement (CDB 03), and the Swiss
Federal Banking Commission has launched a new Ordinance concerning
the prevention of Money Laundering (MLO SFBC). Both will take effect
on July 1, 2003.
According to the new regulations, banks and other financial
intermediaries are obliged to identify business relationships and
transactions which involve higher legal or reputational risk, and
monitor customers and transactions accordingly. Members of Executive
Boards are restricted in the delegation of their responsibility for
the acceptance of new business relationships (for examples dealing
with PEP, politically exposed person; see Art. 22 par. 1 MLO SFBC).
We would like to inform you about the new due diligence agreement,
the new ordinance concerning the prevention of money laundering and
our products as well as our processes; we are pleased to invite you
to our Info4C press-information that will take place Zurich, on April
8, 2003 see below.
Date: April 8, 2003
Time: 10 am. - 11 am.
Place: Forum St. Peter, St. Peterstrasse 19, 8001 Zürich
application: until April 3, 2003 by Fax: 01/224'49'33
contact: Info4C, J. Martin Pulver or Olaf von der Lage (Tel.
01/224'49'36, email@example.com, Uraniastrasse 18, 8001
You can also visit our Stand at the 16th Swiss Compliance Officer
Meeting on April 2, 2003 in Lucerne.
ots Originaltext: Info4C