Agreement on the Swiss Banks' Code of Conduct With Regard to the Exercise of Due Diligence Sample Contracts
Agreement on the Swiss banks’ code of conduct with regard to the exercise of due diligence (CDB 16)Agreement on the Swiss Banks’ Code of Conduct With Regard to the Exercise of Due Diligence • August 31st, 2015
Art. 4 Verifying the identity of the contracting partner 10 Art. 5 Bearer savings books 10 Art. 6 Duty of identification irrespective of minimum thresholds 10 Art. 7 Information to be documented 11 Art. 8 Identification by other appropriate means 11 Section 2 Natural persons 11 Art. 9 Identification on a face-to-face meeting 11
Agreement on the Swiss banks' code of conduct with regard to the exercise of due diligenceAgreement on the Swiss Banks' Code of Conduct With Regard to the Exercise of Due Diligence • May 2nd, 2025
In its recent activity and case law report covering the years 2017 to 2021, the Supervisory Board of the Agreement on the Swiss Banks’ Code of Conduct with Regard to the Exercise of Due Diligence (CDB) reminds us at the outset that the provisions of CDB 20 apply only if a new business relationship is opened, or a repetition of due diligence obligations occurs, after January 1, 2020 (art. 69 para. 1 and 70 para. 2 CDB 20). As a result, the latest publication of case law relates mainly to breaches of CDB 16 (44 decisions handed down during the period under review). A few interesting points, summarized below, caught our attention.