# VSB 20 Art. 65 — Limitation period - **Rubric (DE):** Verjährung - **Rubric (EN):** Limitation period - **Chapter:** 8. Kapitel — Prüf- und Verfahrensbestimmungen (2. Abschnitt: Sanktionsbestimmungen) - **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 A violation of the rules of conduct (*Standesregeln*) is no longer prosecuted if it occurred more than five years ago. The limitation period (*Verjährung*) is suspended for the duration of the proceedings. ## Context & interpretation The SBA commentary states that the five-year period always starts to run from the time of a violation of the rules of conduct. As an example, it states that if, after the five-year period has expired, an error is discovered within an existing business relationship which triggers the duty of repetition under [[VSB 20 Art. 46 - Repetition in case of doubt|Art. 46]], failing to correct the error noticed is a new violation of the VSB and starts a new five-year period. It also states that the limitation period is suspended during the proceedings irrespective of the type of proceedings, including the abridged procedure (*abgekürztes Verfahren*). ## FATF - None directly. ## Swiss counterparts - None in this map. ## Part of - [[VSB 20]] ## Sources - VSB 20 (Vereinbarung vom 13. Juni 2018, in force 1.1.2020), Art. 65 - SBVg Kommentar zur VSB 20 (2020), Art. 65