Switzerland’s financial regulations need further strengthening following the takeover of Credit Suisse by UBS, the Swiss National Bank said. Photo: Reuters 3 min read Last Updated : Jun 20 2024 | 2:22 PM IST Switzerland’s financial regulations need further strengthening following the takeover of Credit Suisse by UBS, the Swiss National Bank said on...
Tag: banking
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Swiss Regulator Says HSBC Violated Money Laundering Regulations
Swiss financial market supervisory authority FINMA has ruled that HSBC Private Bank (Suisse) SA violated money laundering regulations. This ruling followed enforcement proceedings opened by FINMA in December 2021 and focused on the financial institution’s banking relationships with two unnamed politically exposed persons, FINMA said in a Tuesday (June 18) press release. “HSBC Private Bank...
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Anti-Semitism ‘played no role’ in Raiffeisen Switzerland bank business
A suggestion was made to rename Raiffeisenplatz, where the bank’s headquarters are located. Keystone/Gaetan Bally The Raiffeisen banking group has no history of prejudicial business behaviour against Jews in Switzerland despite the anti-Semitic views of its German founder, according to a report that was commissioned by the company. This content was published on April 19,...
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After Credit Suisse collapse Switzerland is now revamping its financial rulebook
Switzerland is accelerating efforts to reform its banking regulations a year after the collapse of Credit Suisse — and handing more power to those who will enforce them. The government is due to unveil long-awaited proposals for legislation in the coming days that are likely to touch on all of the main pillars of bank...
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UBS finalises transfer of Credit Suisse securitisation business to Apollo – SWI swissinfo.ch
Under the new deal, announced on Wednesday, Apollo Global Management will purchase from UBS $8 billion of “senior secured financing facilities” as part of the Swiss bank’s efforts to wind down its non-core legacy portfolio KEYSTONE/© KEYSTONE / ENNIO LEANZA UBS Group and Apollo Global Management have reached an agreement regarding the carveout of Credit Suisse’s...
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Swiss financial watchdog fines Bank Audi for money-laundering violations – SWI swissinfo.ch
FINMA determined that the bank failed to provide information and did not adequately vet high-risk client relationships. KEYSTONE/© KEYSTONE / PETER KLAUNZER The Swiss Financial Market Supervisory Authority (FINMA) has identified serious violations of money-laundering regulations at the private bank, Bank Audi. This content was published on March 25, 2024 – 13:34 FINMA is fining...
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Switzerland Today – SWI swissinfo.ch
Who are the happiest people in the world? Finland remains the happiest country in the world, taking the title for the seventh year in a row, according to a UN-commissioned World Happiness ReportExternal link released today. Switzerland dropped one place to ninth. Nordic countries took the top slots, with Denmark, Iceland and Sweden following Finland. Switzerland’s happiness...
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Switzerland’s financial watchdog needs more powers, global regulator says – SWI swissinfo.ch
Not enough teeth? Swiss financial regulator FINMA. KEYSTONE/© KEYSTONE / PETER KLAUNZER The Swiss financial watchdog FINMA should be given increased powers to make sure it would be able to deal with a failure of UBS if that scenario were ever to play out, a global regulator has said. This content was published on March...
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SNB president says stronger Swiss franc painful for companies – SWI swissinfo.ch
Despite the pain for companies, Switzerland should nonetheless escape relatively unscathed, declared Swiss National Bank President Thomas Jordan on Tuesday. © Keystone / Anthony Anex A stronger franc has helped dampen inflation in Switzerland but has also been painful for domestic companies, according to Swiss National Bank President Thomas Jordan. This content was published on...