A strict
legislative framework
Switzerland is recognised for its regulatory excellence in the precious metals sector. Thanks to one of the world’s most stringent legislative frameworks, the country guarantees high standards of transparency, legality and accountability throughout the value chain.
Dual federal supervision for specialised oversight
In the Swiss precious metals sector, “dual supervision” ensures systematic control from a technical, legal and financial perspective, thanks to the activities of the Central Office for Precious Metals Control (COPMC). A comprehensive control system ensures technical and regulatory compliance, traceability and integrity throughout the supply chain.
Precious Metals Control Act
Under the Federal Customs Administration, the Central Office for Precious Metals Control (COPMC) is responsible for enforcing the Precious Metals Control Act (20 June 1933), which regulates trade in raw materials, semi-finished products and manufactured goods made of precious metals, with the aim of ensuring the quality of products placed on the market.
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Revision of the Anti-Money Laundering Act (LBA)
Since 1 January 2020, commercial assayers – legal entities engaged in the analysis of precious metals – have been considered financial intermediaries under the Anti-Money Laundering Act (AMLA); following supervision by FINMA, they are now answerable to the Central Office for Precious Metals Control (COPMC). This reform strengthens the integration of quality controls and responsibility in the supply chain.
The ASMP’s contribution
The Association promotes an all-round supervisory approach across the entire profession of commercial assayers. To this end, it has submitted a strategic vision for the development of the COPMC to the federal authorities with a view to extending supervision to the entire supply chain of commercial assayers.
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Evolving regulations for greater transparency and control
Swiss legislation on precious metals is constantly being strengthened to ensure greater transparency, traceability and control throughout the supply chain. The reforms confirm the commitment to enhanced standards of supervision.
Tariff number 7108.12: clearer classification of raw gold
The reform
Tariff number 7108.12 identifies gold in its raw state without distinguishing between its different origins. To improve traceability, Switzerland has proposed to the World Customs Organisation (WCO) that this tariff be divided into three subcategories: gold ore, bank gold and gold in other forms. At international level, the amendment is not expected to be adopted before 2027; Switzerland has taken the first step in global reform by applying this distinction from 1 January 2021.
The ASMP’s contribution
The Association actively supported the need for a more precise classification and promoted the Swiss proposal to the relevant authorities.
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Certified professionalism guarantees quality and legality
The presence of highly qualified professionals helps strengthen the Swiss monitoring system in the precious metals sector. Alongside the regulatory supervision exercised by the Central Office for Precious Metals Control (COPMC), sworn federal assayers play a fundamental operational and technical role in ensuring quality, legality and transparency.
Sworn assayers (natural persons)
These are professionals trained to federal standards who are responsible for verifying the purity of precious metals. Their work, which is recognised by the Swiss Confederation, guarantees the technical integrity of controls throughout the supply chain.
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Commercial assayers (legal entities)
Authorised by the COPMC, they determine the fineness of metals intended for resale. Since 2020, they have been considered financial intermediaries under the Anti-Money Laundering Act (LBA) and their activities are subject to specific supervision to ensure compliance and traceability in the market.