The National accepted last Monday, by 123 votes to 67, a draft watered-down revision of the law on money laundering. As such, lawyers and other advisors will not be subject to these regulations.

Lawyers and advisers permanently excluded from the draft law on money laundering. On Monday, the theme was at the heart of the debates of the deputies who refused during a first examination to enter into the matter because of provisions aimed at subjecting the councillors to the law.
Lawyers and advisors can now explain how to launder money, without being prosecuted if they do not participate in the transaction. They also have no obligation to report those who launder money, if they are aware of it.
According to Philipp Matthias Bregy (PDC/VS), the project fulfills seven of the eight FATF recommendations. Calling for a gap in the legislation Florence Brenzikofer (Greens/BL), acknowledges that this is a useful regulation.
The bill provides for a range of measures, among others, financial intermediaries will have to verify the identity of the client, document the service and clarify its background and purpose. They will also need to check this information periodically.