Polixis SA

As every year, we look forward to sharing our insights on regulatory developments with the members of the Swiss Association of Wealth Managers (SAM). On RegTech side, Financial intermediaries face two key challenges: the rapid evolution of regulations (e.g. nature of sanctions) and the impact of technology. What was a compliant setup two years ago may no longer be sufficient in 2025. Join us as we navigate these changes together.

🚨 OFSI’s Latest Financial Services Threat Assessment Report: Key Risks & Compliance Challenges 🚨 The Office of Financial Sanctions Implementation (OFSI) has published its latest Financial Services Threat Assessment Report, shedding light on critical risks faced by UK financial institutions. 🔹 Underreporting of Breaches – Some UK financial firms, especially non-bank payment service providers (NBPSPs), may not be fully disclosing suspected breaches. Reporting inconsistencies exist across different sanctions regimes. 🔹 Common Compliance Failures – Key issues include mismanagement of frozen assets, non-compliance with licence conditions, and errors in ownership assessments. 🔹 Rise of Enablers – Since 2023, Russian designated persons (DPs) have increasingly relied on enablers—both professional and non-professional—to evade UK sanctions. 🔹 NBPSPs & High-Value Assets – Enablers have facilitated payments via NBPSPs to maintain superyachts, UK properties, and luxury lifestyles for Russian DPs. 🔹 Fronting Attempts – Some enablers have likely attempted to falsely claim ownership of frozen assets on behalf of sanctioned individuals. 🔹 Crypto & Sanctions Evasion – Cryptoassets have almost certainly been used as an alternative payment method to bypass financial restrictions. Read the full summary here: https://lnkd.in/eye2gPxH #Sanctions #FinancialCompliance #OFSI #AML #CryptoRegulation #RiskManagement

🔍 The European Securities and Markets Authority (ESMA) has released a Supervisory Briefing on the Markets in Crypto-Assets Regulation (MiCA), setting strict AML/CFT compliance requirements for Crypto-Asset Service Providers (CASPs). With crypto’s cross-border nature, pseudonymous wallets, and high-anonymity assets, firms must implement robust compliance frameworks, independent oversight, and risk-based AML controls in line with EBA guidelines. 🛡️ Key MiCA Compliance Takeaways for CASPs: - Independent Compliance Function : A dedicated team with direct reporting lines - Regulatory Oversight : Compliance must influence strategic decisions - Enhanced AML Controls : Risk-based monitoring & transaction reporting - No Full Outsourcing : CASPs must maintain full AML responsibility - Heightened Scrutiny : Firms with 1M+ users or €3B balance sheets face stricter oversight As MiCA reshapes EU crypto regulations, compliance readiness is critical to avoid regulatory penalties, reputational damage, and operational risks. #CryptoRegulation #ESMA #MiCA #Compliance #AML #FinancialCrime #KYC #RegTech #CASPs #AML #Finance #Crypto https://lnkd.in/e2zU2e62

The U.S. Supreme Court recently allowed the enforcement of the Corporate Transparency Act (CTA), a critical anti-corruption measure requiring companies to disclose their true owners, while an appeal is ongoing. This decision stayed a prior nationwide injunction from a Texas federal district judge, blocking the CTA’s enforcement. Despite the ruling, the implementation of the CTA remains on hold due to another injunction, meaning companies are not yet required to report beneficial ownership information to FinCEN. #CorporateTransparency #CTA #AntiCorruption #SupremeCourt #FinancialRegulation #Compliance https://lnkd.in/eTgXZhaK

🔍 In January 2025, regulatory authorities released a comprehensive review on Money Laundering Through Financial Markets (MLTM), addressing the growing sophistication of criminal tactics and vulnerabilities in the system. The report highlights key areas of concern, including risks in wholesale brokers, outdated transaction monitoring systems, and the impact of the Economic Crime and Corporate Transparency Act 2023. 🛡️To combat these threats, firms are encouraged to strengthen governance, enhance KYC processes, and leverage innovative RegTech solutions. Collaboration across sectors and proactive risk management remain key in staying ahead of evolving financial crime strategies. #MoneyLaundering #FinancialMarkets #AML #RegTech #Compliance #Governance #EconomicCrime #KYC #TransactionMonitoring https://lnkd.in/euJzn35e

⚖️ On 15 January, the General Court of the European Union delivered its judgment in Kantor Vs. Council (T-748/22). The EU justified the sanctions on the grounds that Kantor had close ties to the Russian government and contributed to sectors generating substantial revenue for the state. Kantor’s legal team contested the evidence, citing reliance on publicly accessible sources, including Wikipedia, which they argued was insufficient for such a serious claim. However, the Tribunal upheld the Council's decision, concluding that the use of Wikipedia, alongside corroborating evidence, met the evidentiary threshold. 📝 This ruling reaffirms the EU's ability to use publicly available and indirect evidence in sanctions cases, provided it forms part of a coherent and credible evidentiary framework. #EU #Sanctions #RussiaUkraineConflict #LegalRuling #BusinessAndLaw #KantorCase #SanctionsCompliance #EuropeanUnion #Wikipedia https://lnkd.in/ePQzjwq9

What an incredible evening celebrating the amazing team that drives Polixis forward every day! 🌟 Our annual corporate party was filled with laughter, connection, and gratitude for the journey we've been on together. Thank you to everyone who made this event unforgettable, and here’s to continued growth, innovation, and success in the months ahead! 💼✨ #PolixisTeam #CorporateCelebration #StrongerTogether #PolixisMoments

🎄✨ Season’s Greetings from Polixis! ✨🎄 As we close the year, we at Polixis want to take a moment to express our heartfelt gratitude to our partners, clients, and followers. Your trust, collaboration, and support have been integral to our journey and success this year. 🌟 Wishing you a Merry Christmas and a Happy New Year! 🌟 May this holiday season bring joy, peace, and prosperity to you and your loved ones. We look forward to continuing our partnership and achieving new milestones together in 2025. Here’s to a bright and successful year ahead! 🌍💼 #HappyHolidays #MerryChristmas #HappyNewYear #Polixis

Last week, we got together for our End-of-Year Cocktail at the Mandarin Oriental Hotel in #Geneva. It was an evening of connecting, sharing stories, and celebrating with our amazing finance community. A huge thank you to everyone who joined us! We’re so excited to step into 2025 with all of you. Here’s to another successful year ahead! ✨

We were thrilled to showcase a live demo in Zurich, highlighting the seamless integration of AML & Compliance risk management, powered by Polixis SA's advanced APIs for WealthArc's end-user clients. A big thank you to the incredible tech teams at WealthArc and Polixis SA for making this integration a reality, as well as to our Zurich clients and partners for joining us at the event. Your presence and support are what drive our commitment to innovation and excellence . Yann Thiel, Gareth Spiers, Gagik Sargsyan   #WealthManagement #Fintech #Zurich #WealthArc #Polixis #ComplianceSolutions #FinancialTechnology