In response to the amendments to the Anti-Money Laundering Act and the Precious Metals Control Act, which took effect on January 1, 2023, individuals and businesses involved in purchasing materials for melting into precious metals are now required to undergo regulatory oversight. This new regulation mandates that those engaged in buying used precious metals, such as old jewelry and manufacturing waste containing recoverable precious metals, must either register or obtain a license from the Central Precious Metals Control Office by January 1, 2024.

Entities registered with the Swiss Commercial Registry must register with the Central Precious Metals Control Office. Those not registered must apply for a license from the same office.

In addition to obtaining the necessary registration, engagement in precious metals trading requires in principe also an affiliation with a Self-Regulatory Organization (SRO) to comply with Anti-Money Laundering and Counter-Terrorism Financing laws. 

SynHedge is here to guide you through the registration process, ensuring you meet all regulatory requirements efficiently and effectively.