Banks

Are you up to speed with the FX Global Code?

Many of Switzerland’s banks haven’t yet adopted the FX Gobal Code. But the tide is changing. Some regulators such as the Swiss National Bank recently signed a Statement of Commitment to the FX Global Code and announced its expectation that its counterparties do the same.

Detecting and preventing financial crime – a huge challenge for Swiss banks

The global significance of the Swiss financial center has made it a focus of efforts to combat organized crime and money laundering. Banks and public authorities are finding themselves faced with a variety of challenges as a result. A new study by KPMG identifies areas where action needs to be taken.

Frontiers in Finance: Disruption on the Transformation Journey

How well are senior leaders dealing with disruption? Executives face the data revolution and new technologies, the demand for greater customer centricity, and growing constraints imposed by governments and regulators. The issues are far reaching and the solutions require a strategic approach.
4

A lack of radical change hits Swiss private banks’ performances

Analyzing the performances of 85 of Switzerland’s 114 private banks produces a bleak picture. Almost every key performance indicator (KPI) deteriorated in 2016 – sometimes significantly. The vast majority of banks have not taken the action needed to reverse their decline.
10

Time to transform tax reporting?

In times of international tax transparency, being tax compliant has become more relevant than ever before. Consequently banks are focusing on tax reporting for individual clients. KPMG’s latest survey analyses how Swiss private banks answer the demand for tax reports requested by their foreign private clients.
10

AEoI’s impact on collective investment schemes and asset managers

If you’re involved in collective investment schemes, you must carefully assess whether you have to fulfil any AEoI obligations. If an entity qualifies as reporting financial institution, it’s important to carry out reporting but also due diligence procedures to identify all reportable persons.
4