Financial Services

IFRS 9 Finanzinstrumente: Industrieunternehmen sind gefordert

IFRS 9 Finanzinstrumente ist kein industriespezifischer Standard sondern ist sowohl von Finanzinstituten als auch von Industrieunternehmen anzuwenden. Im Gegensatz zu Banken und Versicherungen scheint IFRS 9 bei Industrieunternehmen kein Meilenstein der Rechnungslegung zu sein. Entspricht dies jedoch den Tatsachen?

Evolution or revolution for Swiss insurers?

The word ‘change’ conjures up a myriad images and expectations. For some, it represents a threat. For others, it is possibility and potential. Which one it turns out to be for Swiss non-life insurers depends on how they grasp the need for transformation amid current challenges to the status quo.

Swiss Federal Supreme Court considers Dutch Group Request as permissible

While the Federal Tax Administration found the Dutch group request to be permissible in fall 2015, the Swiss Federal Administrative Court on the other hand deemed it not permissible. However, upon its deliberations held on 11 September 2016, the Swiss Federal Supreme Court decided that this group request was acceptable after all.

Guidelines as last step to implementation of the AEoI

The Automatic Exchange of Information (AEoI) will follow in Switzerland in a few months’ time. After the publication of the draft AEoI ordinance in May 2016 and the draft AEoI guidelines on 3 August 2016, the legal bases for the AEoI are complete.

The 5 most challenging trends for Swiss private bankers

10 percent of private banks did not survive 2015. KPMG’s joint study with the University of St. Gallen finds that many banks’ efforts to adapt their business and operating models to the new environment have proven insufficient. Despite trying to turn around their performances, many banks face a stark reality - they can’t survive.

FINMA’s new Public Disclosure rules pose challenges for insurers

Beginning in financial year 2016, Swiss insurance companies will have to meet new minimum disclosures requirements. The rules – set out in the FINMA circular 2016/02 "Offenlegung Versicherer" – are part of the Swiss regulators’ ongoing policy of bringing Swiss supervision into line with its European Union peers under the Solvency II equivalence framework.