Financial Services

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.

A long way to investor protection – treatment of FinSA and FinIA in the Parliament’s summer session

On 29 May 2018, the National Council discussed the remaining differences between the two parliamentary chambers in the FinSA and FinIA legislative package. For most of the differences an agreement could be found and the National Council followed the propositions made by the Council of States.
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Dynamic risks on the rise: the CRO’s role in creating impact

As changes in regulation, technology and customer expectations accelerate, Swiss financial institutions are confronted with a highly complex risk landscape. To what extent does your organization still rely on backward-looking methods that frame risks as static, isolated objects?
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Transformative times: Where next for Switzerland’s insurers?

Swiss insurers are no strangers to change. New technologies and ways of working are transforming our industry. In this series of articles, we share our insights into what will be the key challenges and opportunities over the coming year, and what Switzerland’s insurers need to do to stay ahead.
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Circumvention of the AEoI: New OECD rules against fictional residences

In March 2018, the OECD accepted the Mandatory Disclosure Rules for CRS Avoidance Arrangements and Opaque Offshore Structures. In parallel, the OECD launched a further initiative called “Preventing abuse of residence by investment schemes to circumvent the CRS”, aimed at fictitious tax residences based on investments.
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