Financial Regulatory Forum

Switzerland says goodbye to light touch regulation

By Guest Contributor
May 3, 2012

By Rachel Wolcott

LONDON, May 3 (Thomson Reuters Accelus) -┬áThese days even the Swiss are fed up with their bankers. The financial crisis has riled Swiss citizens to the point that the Alpine country’s reputation for light-touch financial regulation will soon be a thing of the past. In a direct democracy such as Switzerland, where every citizen can vote on laws and even propose them, the people have spoken. What they have said is: we want more rules and regulation for bankers and asset managers.

ANALYSIS-Global rich want trusts, Swiss banks stay wary

May 26, 2010

By Chris Vellacott and Lisa Jucca

ZURICH, May 26 (Reuters) – Rich bank customers are showing a growing interest in Anglo-Saxon trusts as a way to structure their wealth, but Swiss private banks are reluctant to up their offer as international pressure on tax disclosure builds.

Merkel tries to calm tempers in Swiss tax dispute

By Reuters Staff
February 8, 2010
Wanted in Switzerland

Wanted in Switzerland

By Madeline Chambers

BERLIN, Feb 8 (Reuters) – German Chancellor Angela Merkel and Switzerland’s president have agreed that a dispute over stolen Swiss bank account data which Germany wants to buy should not harm ties between the neighbours, her spokesman said on Monday.

European states keep Swiss bank secrecy under siege

By Reuters Staff
February 3, 2010

By Jason Rhodes and Ben Berkowitz

BERNE/AMSTERDAM, Feb 3 (Reuters) – European states lined up behind German Chancellor Angela Merkel to expose tax cheats in a combined assault on the Swiss banking secrecy laws that help protect them.

ANALYSIS-Pressure mounts on Swiss private banks

By Reuters Staff
February 2, 2010

By Lisa Jucca and Rupert Pretterklieber

ZURICH, Feb 2 (Reuters) – Swiss private bankers say attacks on the country’s treasured bank secrecy law turned 2009 into an “annus horribilis.”

Swiss central banker backs universal bank model – paper

By Reuters Staff
January 18, 2010

Jan 16 (Reuters) – Switzerland’s two big banks — UBS and Credit Suisse — should not be forced to split their wealth management and commercial banking operations into separate entities, the new head of the country’s central bank said on Saturday.

Swiss call in Italian envoy to explain bank raids

By Reuters Staff
October 28, 2009

ZURICH, Oct 28 (Reuters) – Switzerland has summoned the Italian ambassador to demand an explanation of raids by police and tax inspectors on dozens of Swiss banks in Italy, the Swiss Foreign Ministry said on Wednesday.