Banking & Finance
Need-to-know on new Swiss financial regulation
Two new acts will significantly change the regulatory environment for financial services providers in Switzerland: The Financial Services Act and the Financial Institutions Act will introduce new investor protection provisions and new licensing requirements for asset managers.
The challenges of BEPS for treasury: are you prepared?
Your task as the treasurer of a multinational is to secure that the business has sufficient cash available at all times, against minimal financing costs. The OECD’s Base Erosion and Profit Shifting (BEPS) Project will make managing net financing costs even more challenging.
Swiss derivatives regulation back on track for equivalence
The Federal Council decided to amend the Financial Market Infrastructure Ordinance in order to align it with the EU regulation on OTC derivatives (EMIR). In particular, the rules regarding calculation of initial margins and haircuts have been adjusted to the respective EU law provisions.
Regulatory relaxations for Swiss Fintechs
The Swiss Federal Council has decided on the regulatory amendments of the Banking Ordinance that implements its strategy to decrease barriers to market entry for Fintech firms and strengthen the competitiveness of the Swiss financial center. One of the measures is that acceptance of public funds will become easier.
ESMA planning to exclude letterbox entities from single market
On 31 May 2017, the European Securities and Markets Authority (ESMA) issued an opinion to provide further guidance to the national competent authorities (NCAs) of the remaining EU member states (EU27) on permitting UK market participants access to the single market.
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