Region: Switzerland

Swiss and Japanese banking associations issue sustainability guides

Switzerland’s banking industry association has issued binding self-regulations for integrating sustainability concerns into their investment and mortgage advisory work, while its Japanese counterpart has adopted only non-binding measures.

30 June 2022

Credit Suisse fined in Swiss money laundering case

A Swiss court has fined Credit Suisse over deficiencies in its anti-money laundering controls dating back to 2007.

29 June 2022

Credit Suisse retrenches following Archegos and Greensill debacles

Credit Suisse has announced plans to draw back from its hedge fund financing activities to focus on private banking and wealth management, following a year that has seen it burned by both the Archegos and Greensill collapses and a set of regulatory interventions.

04 November 2021

COP26 Finance Day: regulation round-up

Regulators and central banks have issued more climate-related commitments to coincide with COP26’s finance day, including preparations from the United Kingdom for becoming the world’s first “net-zero aligned finance centre” and the IFRS announcing plans for a single standard for sustainability disclosures.

04 November 2021

EBA gets international pushback on third country equivalence

Banking associations from Japan, the United States and Switzerland have criticised post-Brexit proposals by the European Banking Authority to centralise equivalence assessments for non-EU banks’ local branches within the bloc.

22 September 2021

FINMA approves first digital securities depository

Zurich-based FMI operator Six, advised by Heuking Kühn Lüer Wojtek, has obtained the first-ever Swiss licence for a central securities depository to use distributed ledger technology to support digital currencies.

13 September 2021

“Persistent failure”: Paul Weiss report shows how Credit Suisse overlooked Archegos risks

Credit Suisse exercised a “persistent failure” to manage and remediate identified risks associated with Archegos Capital before its eventual collapse, according to an independent external investigation conducted by Paul Weiss.

29 July 2021

Community round-up: senior hires at FINMA and Bank of Canada

The secretary-general of the Basel Committee on Banking Supervision and the CEO of insurer Zurich are set to take senior roles at the Bank of Canada and Swiss regulator FINMA respectively.

19 July 2021

CBDCs get BIS seal of approval

The Bank for International Settlements has backed two-tier central bank digital currencies, with its head of research calling them “a concept whose time has come”.

24 June 2021

Basel urges strict “cliff edge” two-tier cryptoasset regulation

Banks with cryptoasset exposure will be heavily regulated – and have to maintain the full value of crypto held – under new proposals from the Basel Committee, which predict increasing risk to banks from the volatile assets.

14 June 2021

Get unlimited access to all Global Banking Regulation Review content