The Swiss Financial Market Supervisory Authority (FINMA) published a notice on changes made by the Swiss Federal Department of Economic Affairs, Education and Research to the sanctions designations under Switzerland’s ordinance on measures against the Islamic Republic of Iran. The update amends Annexes 3, 12, 13 and 14 and has been reflected in Switzerland’s SESAM sanctions database (SECO Sanctions Management), with entry into force at 10 March 2026 23:00. Financial intermediaries are required to implement the prohibitions under the ordinance, freeze the assets of sanctioned persons and report affected business relationships to the State Secretariat for Economic Affairs (SECO). FINMA also notes that notifying SECO does not remove the obligation to carry out additional clarifications under Article 6 of the Anti-Money Laundering Act (GwG) where there are grounds for suspicion, and to file a report without delay to the money laundering reporting office under Article 9 GwG if doubts cannot be resolved.
Swiss Financial Market Supervisory Authority (FINMA) 2026-03-10
Swiss Financial Market Supervisory Authority relays updated Swiss sanctions designations under measures against Iran effective 10 March 2026 23:00
The Swiss Financial Market Supervisory Authority (FINMA) announced updates to sanctions designations against Iran, amending Annexes 3, 12, 13, and 14, now reflected in Switzerland’s SESAM sanctions database. Financial intermediaries must implement prohibitions, freeze assets, and report to the State Secretariat for Economic Affairs (SECO), while also fulfilling obligations under the Anti-Money Laundering Act if suspicions arise.