News
02.06.2022

Revised Guidelines on Dormant Assets enter into force on 1 July 2022

The Guidelines on the treatment of assets without contact and dormant assets held at Swiss banks (Guidelines on Dormant Assets) were last revised in 2014 and needed updating in various respects. The newly revised Guidelines, which have been recognised by FINMA as a minimum standard, enter into force on 1 July 2022. 

The revision was partly to take account of the fact that SIX SIS AG has been replaced by Econis AG as the service provider for the system used to record and publish assets without contact and dormant assets. In addition, an update of the rules on how banks deal with these assets was overdue in view of the practical experience amassed in recent years.

The revised Guidelines on Dormant Assets, which have been recognised by FINMA as a minimum standard, enter into force on 1 July 2022. They do not contain any fundamentally new rules or any changes that must be implemented as of 1 July 2022. To make it easier to compare the new text with the previous version, the numbering has remained unchanged, with newly added margin numbers denoted by an alphabetical suffix.

A detailed explanation of the changes can be found here.

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