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On May 12, 2026, the Swiss Financial Market Supervisory Authority (FINMA) launched a consultation on the partial revision of the FINMA Anti-Money Laundering Ordinance (AMLO-FINMA). The consultation period runs until June 9, 2026. The AMLO-FINMA sets out how financial intermediaries must implement requirements for the prevention of money laundering and the financing of terrorism. The revision stems from amendments to the overarching Anti-Money Laundering Act, implementation of recommendations from the Financial Action Task Force, and the need to codify current supervisory practice in specific areas. Key proposed revisions include enhanced requirements for financial intermediaries to understand customer ownership and control structures. The ordinance will also detail measures financial intermediaries must take to prevent breaches of coercive measures under the Embargo Act. In correspondent banking relationships, the revisions stipulate that financial intermediaries may only execute payments on behalf of a customer's clients through transitory accounts if the customer will provide client information upon request to fulfil due diligence duties. Additionally, a declaration on the beneficial owner must be obtained if a contracting party maintains sub-accounts for individual clients. Financial intermediaries and other stakeholders are invited to submit comments on the proposed revisions during the consultation period. Responses should be submitted to FINMA by June 9, 2026. The consultation documents, including the draft ordinance, explanatory report, and key points, are available in German, French, Italian, and English on FINMA's website.