# VSB 20 Art. 62 — Abbreviated procedure - **Rubric (DE):** Abgekürztes Verfahren - **Rubric (EN):** Abbreviated process - **Chapter:** 8. Kapitel — Prüf- und Verfahrensbestimmungen (1. Abschnitt: Verfahren) - **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: in simple cases the bank may apply to the supervisory commission (*Aufsichtskommission*) for an abbreviated procedure (*abgekürztes Verfahren*) by way of a self-report (*Selbstanzeige*). Abs. 2: this requires the bank to file the complete files and a report of an audit firm (*Prüfgesellschaft*) with the self-report; the audit report must in particular describe the facts underlying the self-report and name the affected rules of the code of conduct. Abs. 3: the president of the Aufsichtskommission decides whether the abbreviated procedure is conducted. Abs. 4: if the bank does not agree with the president's decision, the Aufsichtskommission decides finally. Abs. 5: where the procedure is conducted, the Aufsichtskommission decides on the appropriate contractual penalty (*Konventionalstrafe*) applying Art. 64 and/or closes the proceedings in whole or in part, and its decision also states the costs of the procedure. Abs. 6: if the bank requests a written statement of reasons for the decision, the procedural costs increase by a fee for the statement of reasons. ## Context & interpretation The SBA commentary states that in the abbreviated procedure only a sanctions procedure is conducted and the investigation by an investigator (*Untersuchungsbeauftragter*) does not take place. It states that the Aufsichtskommission VSB must be able to decide on the basis of the facts set out in the audit report. It states that the Aufsichtskommission VSB serves the parties only with the operative part (*Dispositiv*) of its decisions, but the bank can request a written statement of reasons within 10 days. ## FATF - [[FATF R.35 - Sanctions|FATF R.35]] — related: the abbreviated procedure ends in a decision on the contractual penalty under Art. 64 (Abs. 5). ## Swiss counterparts - [[VSB 20 Art. 64 - Violations of the rules|VSB 20 Art. 64]] — contractual penalty determined in the abbreviated procedure (Abs. 5). - None in this map for the procedure itself. ## Part of - [[VSB 20]] ## Sources - VSB 20 (Vereinbarung vom 13. Juni 2018, in force 1.1.2020), Art. 62 - SBVg Kommentar zur VSB 20 (2020), Art. 62