FEARS FOR EU-SWISS AML/CFT COOPERATION AFTER KEY TREATY TALKS FAIL
August 1st, 2021
The Swiss Federal Council’s (Switzerland’s cabinet) May 26 unilateral decision to end seven years of negotiations on a new agreement to govern future relations between Switzerland and the European Union (EU), citing sovereignty concerns (1), closes the door on attempts to ensure the country has a formal link with EU AML/CFT legislation.
The European Commission, which had been negotiating for the 27-nation bloc on a EU-Swiss Institutional Framework Agreement (IFA, also known as InstA), initially took a hard line and immediately cut off Swiss access to the ...
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