# VSB 20 Art. 43 — Delegation of the identification of the contracting partner, establishment of the controlling person and of the beneficial owner - **Rubric (DE):** Delegation der Identifizierung des Vertragspartners, der Feststellung des Kontrollinhabers und der Feststellung des wirtschaftlich Berechtigten - **Rubric (EN):** Delegation of the identification of the contracting partner, establishment of the controlling person and of the beneficial owner - **Chapter:** 5. Kapitel — Delegation und Überwachungsvorschriften (1. Abschnitt: Delegation) - **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 The bank may delegate the identification of the contracting partner, the establishment of the controlling person (*Kontrollinhaber*) and the establishment of the beneficial owner (*wirtschaftlich Berechtigter*) to persons or companies by a written agreement, if it has instructed them on their tasks and can check whether these are carried out correctly (Abs. 1). The delegate must transmit the identification documents and, where applicable, the documents on the controlling person or beneficial owner to the bank, and confirm that the copies match the originals (Abs. 2). Sub-delegation and the opening of a relationship by correspondence (*Korrespondenzeröffnung*) by the delegate are excluded (Abs. 3). Within a group (*Konzern* / *Gruppe*), and on delegation to another financial intermediary under Art. 33 that is subject to adequate prudential supervision and AML/CFT regulation, the delegation need not be in writing (Abs. 4). ## Context & interpretation The SBA commentary states that in practice the check is made when the delegate's documents are received; on-site checks are not mandatory. The delegating bank remains liable for any deficiencies. A delegation exists only where a third person acts for the bank as contractually appointed agent, not where the representative acts as organ or authorised signatory of the contracting party. The delegate may be domiciled abroad. ## FATF - [[FATF R.17 - Reliance on third parties|FATF R.17]] — related: the bank may have a third party carry out identification steps; the SBA commentary states that the delegating bank remains liable. ## Swiss counterparts - [[GwV-FINMA Art. 28 - Conditions for third-party engagement|GwV-FINMA Art. 28]] — parallel rule: written agreement, instruction and ability to check (Abs. 1); GwV-FINMA also requires careful selection of the delegate, covers the additional clarification duties, and makes the group exception depend on an equivalent due diligence standard (Abs. 2 lit. a). - [[GwV-FINMA Art. 29 - Modalities of third-party engagement|GwV-FINMA Art. 29]] — Abs. 2 likewise requires a copy of the documents and written confirmation that the copies match the originals; Abs. 1 keeps the intermediary supervisorily responsible in every case. - [[VSB 20 Art. 33 - Banks and other financial intermediaries|VSB 20 Art. 33]] — cross-referenced in Abs. 4 for delegation to another financial intermediary. ## Part of - [[VSB 20]] ## Further AMLR connections - [[AMLR Art. 18 - Outsourcing|AMLR Art. 18]] — Both allow CDD tasks to be delegated to third parties under instruction and control; VSB 20 Art. 43 covers only identification of the contracting party, controlling person and beneficial owner, requires a written agreement (except within a group or to a supervised financial intermediary, Abs. 4) and excludes sub-delegation, whereas AMLR Art. 18 covers all AMLR tasks, allows sub-outsourcing under the entity's policies, and requires prior notification to the supervisor. *(related)* - [[AMLR Art. 48 - Reliance on third parties|AMLR Art. 48]] — Bank delegation rule: written agreement, instruction of the delegate and ability to check its work (Abs. 1); no writing needed within a group or for a financial intermediary under adequate prudential supervision and AML regulation (Abs. 4); sub-delegation barred (Abs. 3). Delegation and reliance are not separated, and there is no express "ultimate responsibility" sentence. *(related)* - [[AMLR Art. 49 - Process of reliance|AMLR Art. 49]] — Bank-side counterpart: written delegation agreement (Abs. 1, waivable in a group or for adequately supervised intermediaries under Abs. 4) and the delegate's duty to hand over identification documents with confirmation that the copies match the originals (Abs. 2). No delivery deadline as in Art. 49(3); the agreement does not have to regulate transmission terms. *(related)* ## Sources - VSB 20 (Vereinbarung vom 13. Juni 2018, in force 1.1.2020), Art. 43 - SBVg Kommentar zur VSB 20 (2020), Art. 43