Client News: Revised FINMA-Circular 2018/3 "Outsourcing – banks and insurance companies"

The Swiss Financial Market Supervisory Authority revised the Circular 2008/7 „Outsourcing banks“ („Cir 2008/7“) and published the final draft on 5 December 2017. The revised Circular FINMA-Cir 2018/3 „Outsourcing – banks and insurance companies“ („Circular“) applies to banks, securities traders and now also applies to insurance companies. Various suggestions from the consultation procedure were included into the final version. The revised version of the Circular will enter into force on 1 April 2018.