# finma RS2016/7

## [FINMA Circular](https://www.finma.ch/en/news/2021/05/20210517-mm-rs-16-07-online-identifizierung/)

## FINMA RS2016/7

**FINMA Circular 2016/7 – Permitted Procedures for Establishing Business Relationships via Correspondence**

FINMA Circular 2016/7 defines three procedures that are permissible for initiating business relationships via correspondence, *“provided they are carried out in accordance with one of the following methods and in compliance with the requirements set out in margin nos. 32–37, 38–39, and 40–41.”*

1. **Electronic ID copy with authenticity verification by the financial intermediary**\
   \&#xNAN;*(Online identification via NFC or bank transfer + proof of residence)*\
   ➡️ Margin nos. 32–37
2. **Electronic ID copy with qualified electronic signature (QES)**\
   \&#xNAN;*(Simple copy + QES, explicitly without proof of residence)*\
   ➡️ Margin nos. 38–39
3. **Digital authenticity confirmation**\
   \&#xNAN;*(Electronic confirmation of authenticity + proof of residence)*\
   ➡️ Margin nos. 40–41

## **Applicable Provisions for QES**

We provide services in accordance with FINMA Circular 2016/7, specifically under the procedure *“Electronic ID copy with qualified electronic signature”* (RS2016/7, margin no. 38).

* **RS2016/7, Margin no. 38**\
  The financial intermediary obtains, via an electronic channel, an electronic copy of all relevant pages of the identification document from the contracting party, along with its authentication through a qualified electronic signature issued by a certification service provider recognized in Switzerland, in accordance with the Federal Act on Electronic Signatures (ZertES; SR 943.03).

  👉 We provide a **qualified electronically signed copy of the ID document in PDF format**. The financial intermediary can independently verify the validity of the QES at any time (e.g. via Adobe Acrobat or validator.admin.ch).
* **RS2016/7, Margin no. 39**\
  The financial intermediary verifies the consistency of the data shown on the ID document with that contained in the qualified electronic signature.

  👉 This verification is performed **automatically during the identification process**, ensuring full compliance with this requirement. Banks may, for instance, conduct sample checks at any time by reviewing the PDF.

{% file src="<https://882733581-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FeMRAXlmouoJYab3amLJp%2Fuploads%2FlHXmBUT7H4zdg7EaR8rc%2FCircular%202016%3A7%20Video%20and%20online%20identification.pdf?alt=media&token=9ae4cf3a-6289-4d5b-b5dc-e688284d2fb7>" %}