Banking & Finance

Updated Sanctions Notice for ISIL (Da'esh) / Al-Kaida

The Swiss State Secretariat for Economic Affairs (SECO) has updated its sanctions database following a UN sanctions committee decision on February 27, 2026. The update concerns individuals, companies, and organizations linked to ISIL (Da'esh) and Al-Qaeda. This change is directly applicable in Switzerland.

FINMA Contacts Bank After US Names it Money Laundering Concern

FINMA is in contact with MBaer Merchant Bank AG and FinCEN after the US designated the bank as a primary money laundering concern. FinCEN is proposing measures under the USA PATRIOT Act, which are currently undergoing public consultation. FINMA has appointed an audit agent at the bank.

Updated Sanctions List for Taliban

The Swiss State Secretariat for Economic Affairs (SECO) has updated its sanctions list concerning individuals and entities linked to the Taliban, effective March 11, 2026. Financial intermediaries are required to implement the prohibitions, freeze assets, and report relevant business relationships to SECO.

Switzerland Updates Iran Sanctions List

The Swiss Federal Department of Economic Affairs, Education and Research (WBF) has updated annexes and the list of sanctioned individuals, companies, and organizations related to Iran. Financial intermediaries are required to implement prohibitions, freeze assets, and report affected business relationships.

FINMA Orders MBaer Merchant Bank AG Liquidation Due to Money Laundering Controls

Switzerland's FINMA has ordered the liquidation of MBaer Merchant Bank AG due to serious, systematic shortcomings in anti-money laundering controls and enabling clients to circumvent asset freezes. This follows FINMA's withdrawal of the bank's license, which is now effective after the bank withdrew its appeal.

Capital Asia Investments Investigated for Money Laundering and Compliance Failures

The Monetary Authority of Singapore (MAS) and the Police are investigating Capital Asia Investments Pte Ltd and its directors for suspected money laundering and compliance failures. Over S$160 million in assets were seized, and two directors were arrested as part of the ongoing investigation.

MAS Issues Environmental Risk Transition Planning Guidelines

The Monetary Authority of Singapore (MAS) has issued new Guidelines on Environmental Risk Management - Transition Planning for banks, insurers, and asset managers. These guidelines set supervisory expectations for managing climate-related transition and physical risks, taking effect from September 2027.

Payments Forward Plan Published

The Payments Vision Delivery Committee, comprising HM Treasury, the Bank of England, the FCA, and the PSR, has published the Payments Forward Plan. This plan outlines upcoming initiatives in retail and wholesale payments, including digital assets, to foster a trusted, world-leading payments ecosystem.

High Court Upholds PSR Powers to Cap Card Fees

The UK High Court has upheld the Payment Systems Regulator's (PSR) powers to cap cross-border interchange fees, following a legal challenge. This decision allows the PSR to proceed with its analysis and potential implementation of fee caps, aiming to reduce costs for UK businesses.

Ashley Alder Appointed New PSR Board Chair

Ashley Alder has been appointed as the new Chair of the Payment Systems Regulator (PSR) Board, effective January 26, 2026. This appointment coincides with the planned consolidation of the PSR into the Financial Conduct Authority (FCA), where Alder also serves as Chair.