Swiss banking
and wealth management
- manages over
CHF 4,000 billion in client investment portfolios or one-third of all
internationally invested private wealth.
- generates 9%
of Switzerland’s GDP with over 3% of Switzerland’s workforce.
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Swiss bank
client confidentiality
- The
banks have a duty to keep confidential all facts that involve their
customers. The right to privacy is laid down in the Federal
Constitution.
- The
violation of professional secrecy by a representative of a bank or by
whoever tries to induce others to violate professional secrecy is
punishable by
imprisonment or by a fine even after the termination of relationship or
the exercise of the profession. Switzerland
has very highly-developed “know your customer” rules which mean our
banks are required by law to verify the identity of a client and
establish the identity of the beneficial owner of the assets.
Our
regulation
- Our related
independent asset managers are supervised by a Self-regulating Body,
recognised by the Anti-Money Laundering Control
Authority.
- Switzerland's
existing regulations already comply better than in may EU countries to
EU MiFID directive which aim is to improve investor protection,
provide greater financial market transparency with measures such as
requiring that clients are informed about where they can ind the best
price for transactions.