The FTA shall require banks and other Swiss paying agents registered with the FTA to disclose the details specified in the applicable agreement. It shall prescribe a deadline for this purpose.
Banks and other Swiss paying agents registered with the FTA shall inform the FTA of whether the person named in the request is the beneficial owner of an account or deposit. They shall transmit all relevant information that is in their possession or under their control.
The competent authority of the partner state shall not be entitled to inspect files or be present during proceedings in Switzerland. Specifically, it may not conduct onsite audits by itself at banks or other Swiss paying agents registered with the FTA.
Information procurement costs shall not be reimbursed.
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