SWITZERLAND Trends and Developments Contributed by: Philippe M. Reich, Kaspar Projer, Samantha Salsench and Anna Zellweger, Baker McKenzie Switzerland AG
In light of such nuanced approaches in the imple - mentation of the Swiss and EU sanctions regimes and at the same time the extensive nature of sanc - tions measures more generally, financial institutions are required to implement robust compliance policies and procedures.
Regulators are increasingly scrutinising financial institutions and expect them to screen parties that are involved in relevant transactions of their custom - ers. Such institutions must further ensure that indi - vidual transactions in which they are involved do not breach applicable sanctions (eg, by involving trading in restricted products).
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