# GwV-FINMA Art. 69 — Renewed identification or establishment of the controlling person and of the beneficial owner of assets - **Rubric (DE):** Erneute Identifizierung oder Feststellung der Kontrollinhaberin, des Kontrollinhabers und der an Vermögenswerten wirtschaftlich berechtigten Person - **Rubric (EN):** Renewed identification or establishment of the controlling person and of the beneficial owner of assets - **Scope:** Art. 1b BankG persons; FIs under GwG Art. 2(2)(abis)/(dquater) (Title 5; see [[Scope note — GwV-FINMA Title 5 vs VSB 20]]) - **Status:** In force ## Description The identification of the contracting party, or the establishment of the controlling person (*Kontrollinhaberin / Kontrollinhaber*) and of the beneficial owner of assets, must be repeated in the course of the business relationship if doubts arise whether: (a) the details on the identity of the contracting party or of the controlling person are correct; (b) the contracting party or the controlling person is identical with the beneficial owner of assets; or (c) the declaration of the contracting party or of the controlling person on the beneficial owner of assets is correct. ## Swiss counterparts - [[GwG Art. 5 - Repetition of identification - re-establishing|GwG Art. 5]] — statutory duty to repeat identification or establishment where doubts arise in the course of the business relationship (Abs. 1). - [[GwV-FINMA Art. 70 - Termination of business relationship|GwV-FINMA Art. 70]] — termination where doubts persist after the procedure under Art. 69. ## VSB 20 counterpart - [[VSB 20 Art. 46 - Repetition in case of doubt|VSB 20 Art. 46]] — parallel rule for banks. VSB Art. 46 Abs. 1 frames the doubts differently (whether the controlling person or beneficial owner is still the same; whether the declarations on Formular A, I, K, R, S and T are correct) and applies where the doubts could not be dispelled by clarifications; its Abs. 2–3 add a termination rule and a bar on termination once the conditions of the reporting duty (Art. 9 GwG) are met. ## Further AMLR connections - [[AMLR Art. 19 - Application of CDD|AMLR Art. 19]] — GwV-FINMA Art. 69 requires repeating identification during the relationship when doubts arise about identity details. Binds Title 5 entities only (not banks). *(direct)* ## Authoritative text > [!quote]- GwV-FINMA Art. 69 — German original, SR 955.033.0, consolidated version of 1 January 2023 (Fedlex) > **Art. 69 Erneute Identifizierung oder Feststellung der Kontrollinhaberin, des Kontrollinhabers und der an Vermögenswerten wirtschaftlich berechtigten Person** > Die Identifizierung der Vertragspartei oder die Feststellung der Kontrollinhaberin oder des Kontrollinhabers und der an Vermögenswerten wirtschaftlich berechtigten Person muss im Laufe der Geschäftsbeziehung wiederholt werden, wenn Zweifel aufkommen, ob: > a. die Angaben über die Identität der Vertragspartei, der Kontrollinhaberin oder des Kontrollinhabers zutreffen; > b. die Vertragspartei, die Kontrollinhaberin oder der Kontrollinhaber mit der an Vermögenswerten wirtschaftlich berechtigten Person identisch ist; > c. die Erklärung der Vertragspartei, der Kontrollinhaber oder des Kontrollinhabers über die an Vermögenswerten wirtschaftlich berechtigte Person zutrifft. ## Sources - GwV-FINMA SR 955.033.0, Art. 69