On 16 November 2020, the Swiss financial markets regulator FINMA published details of the partial revision of circular 2016/7 on video and online identification. The notable changes relate to the use of biometric passport data and a clarification regarding the engagement of specialized third party service providers for remote client identification. The consultation period for the proposed changes has ended on 1 February 2021. The revised circular is expected to enter into force in mid-2021.

By Aline Anthenien / Katrin Ivell (Reference: CapLaw-2021-04)