2026 Anti-Money Laundering Act Revision: When Advice Becomes a Duty of Care

At its meeting on 12 June 2026, the Federal Council definitively set 1October 2026, as the effective date for several decrees aimed at strengthening the framework for combating money laundering and terrorist financing. The key change: For the first time, the Anti-Money Laundering Act (AMLA) covers a third category of obligated entities in addition to financial intermediaries and traders—advisors.

Who is now considered a consultant?

• Transactions involving non-operational legal entities (incorporation, administration, cash flow, M&A) – excluding holding companies (Art. 2a(6) AMLA)

• certain real estate transactions (purchase/sale of real property and comparable legal transactions)

Art. 2(3ter) additionally covers the provision of a domicile, registered office, or premises (for a period of six months or longer) as well as acting as a shareholder in a fiduciary capacity. Art. 2 para. 3quater extends the scope of application to notaries public; however, its implementation must still be regulated by the cantons.

In practice, this specifically concerns: advising on legal form or articles of incorporation, increases in share capital, promises to purchase real estate, and due diligence reviews for the aforementioned transactions.

Important Exceptions

In particular, representation in court or administrative proceedings, as well as the advisory services provided prior to such representation, are not covered. For professions subject to professional confidentiality (e.g., attorneys), an exception to the reporting requirement to the Money Laundering Reporting Office (MROS) is also provided.

Dual qualification

Anyone who acts both as a financial intermediary and as an advisor is subject to the relevant regulations for each activity. However, it is possible to declare to the supervisory authority that the entire scope of one’s activities will be subject to the (stricter) financial intermediary regulations - the Federal Council sets forth the details in an ordinance.

What new responsibilities do you have as a consultant?

Any person who is qualified and works professionally as a financial advisor must fulfill the same traditional due diligence obligations that previously applied only to financial intermediaries:

• Identification and verification of customers and the beneficial owner; in cases of increased risk, enhanced due diligence (Art. 8b AMLA
  
  
• Requirement to document all due diligence procedures (Art. 8b in conjunction with Art. 7 AMLA)
  
  
• Any obligation to report to the Money Laundering Reporting Office (MROS) (subject to the exception for persons bound by professional secrecy) (Art. 9 para. 1ter et seq. AMLA)
  
  
• Organizational measures: internal guidelines, staff training, controls (Art. 8c AMLA) as well as—crucially—membership in a recognized self-regulatory organization (SRO) (Art. 14(1) AMLA)

What can you do now?

• Review the criteria of the Anti-Money Laundering Act (GwG) and document any exceptions
  
  
• In the case of mixed activities (financial intermediary + advisor), clarify the issue of regulatory oversight
  
  
• Select an SRO and prepare the application for membership well in advance
  
  
• Establish internal KYC, EDD, and documentation processes, including a process for any required MROS reports
  
  
• Train staff, issue internal guidelines, and evaluate audit firms for the mandatory audit

You can download the complete presentation from our webinar “New Advisory Obligations Under the Anti-Money Laundering Act (GwG),” which includes additional real-world examples and a live demo of the KYC Spider Toolbox, here.

The KYC Spider Toolbox already supports financial intermediaries in the technical implementation of these due diligence obligations and will also assist newly regulated advisors in meeting their due diligence and documentation requirements in the future. For more information and a free trial, visit www.kyc.ch or support@kyc.ch.

This article is intended solely for general informational purposes and does not constitute legal or compliance advice. It will not be updated and reflects our understanding as of the end of June 2026.