# VSB 20 Art. 16 — Identification of simple partnerships, companies in the process of foundation and trustees - **Rubric (DE):** Identifizierung bei einfachen Gesellschaften, sich in Gründung befindenden Gesellschaften sowie Trustees - **Rubric (EN):** Identification of simple partnerships, companies in the process of foundation and trustees - **Chapter:** 2. Kapitel — Identifizierung des Vertragspartners (3. Abschnitt: Juristische Personen und Personengesellschaften) - **Scope:** Banks & securities firms (incorporated via [[GwV-FINMA Art. 35 - Identification, controlling person and beneficial|GwV-FINMA Art. 35]]) - **Status:** In force (since 1 January 2020) ## Description Abs. 1: when the business relationship is entered into with a simple partnership (*einfache Gesellschaft*), one of the following alternatives is to be identified: (a) all partners; or (b) at least one partner and the persons who have signing authority vis-à-vis the bank; or (c) for simple partnerships that aim to safeguard the interests of their members or beneficiaries by joint self-help, or that pursue political, religious, scientific, artistic, charitable, social or similar purposes, only the persons who have signing authority vis-à-vis the bank. Abs. 2: for companies in the process of foundation (*sich in Gründung befindende Gesellschaften*), the persons who open the business relationship are to be identified. Abs. 3: in trust relationships the trustee is to be identified. The trustee must also confirm in writing that he or she is entitled to open a business relationship with the bank for the trust. ## Context & interpretation The SBA commentary states that for a business relationship with a trust the trustee is the bank's contracting partner and the trust itself cannot be; the entitlement may be confirmed in writing or in a suitable electronic manner (for example with *Formular T*), and a legal opinion is also admissible instead, without form requirements. It states that Art. 15 does not apply to business relationships with simple partnerships, because Art. 16 is *lex specialis* for them, and that where a legal person or partnership holds signing authority for such a relationship, it is itself identified, not its acting representatives. For an account opened to pay in the capital of an AG or GmbH in formation, it states that the persons opening it are identified under Art. 15. ## FATF - [[FATF R.10 - Customer due diligence|FATF R.10]] — identification of the customer at the start of the business relationship, here for simple partnerships, companies in formation and trusts (via the trustee). ## Swiss counterparts - [[GwV-FINMA Art. 46 - Simple partnerships|GwV-FINMA Art. 46]] — Abs. 1 offers the same two alternatives (all partners; or at least one partner plus those with signing authority), but has no counterpart to the lit. c relief of VSB Art. 16 Abs. 1. - [[GwV-FINMA Art. 44 - Required information|GwV-FINMA Art. 44]] — Abs. 4 likewise requires the trustee to be identified and to confirm in writing that he or she is entitled to open the business relationship for the trust. - [[GwG Art. 3 - Verification of the identity of|GwG Art. 3]] — statutory basis for identifying the contracting party. - [[VSB 20 Art. 34 - Simple partnerships|VSB 20 Art. 34]] — Abs. 1 there refers to the identification of the partners under Art. 16 Abs. 1 lit. a. - [[VSB 20 Art. 41 - Trusts|VSB 20 Art. 41]] — related: separately requires the contracting party to record the required details on the trust by written declaration or *Formular T*. ## Part of - [[VSB 20]] ## Further AMLR connections - [[AMLR Art. 22 - ID - verify customer + BO|AMLR Art. 22]] — VSB Art. 16 Abs. 3 requires identifying the trustee and a written confirmation of authority; AMLR Art. 22(1)(c) additionally requires trustee residence, the arrangement's governing powers and basic information. *(related)* ## Sources - VSB 20 (Vereinbarung vom 13. Juni 2018, in force 1.1.2020), Art. 16 - SBVg Kommentar zur VSB 20 (2020), Art. 16