Switzerland and United Kingdom Aspire to Cooperate on Financial Services
2020-07-03 | News & Media

Switzerland and United Kingdom Aspire to Cooperate on Financial Services

On 30th June, 2020 in Bern, Swiss Finance Minister Ueli Maurer and his UK colleague Rishi Sunak signed a joint statement on further cooperation between the countries relating the financial services in a virtual meeting. They also discussed how the COVID-19 pandemic influenced an economy and finance market.

The joint statement emphasizes the striving of both countries for the common agreement which ensures the trans-border market access for a broad range of financial services connected to insurance, banking activities, management of assets and capital market infrastructure. In such a way, Switzerland and the UK demonstrate their interest in the opening of financial markets and stability in the financial sphere and are eager to establish themselves as the world's leading financial centres in Europe.

The finance ministers exchanged opinions about the question of stock market equivalence and measures of Swiss stock exchange infrastructure protection. They assume that a mutual access to the Swiss and British stock market should be facilitated based on mutual recognition once both sides have taken the necessary actions after the end of the United Kingdom's transition period in relation to the EU.

The next Swiss-UK Financial Dialogue is planned on 8th September. In this meeting the implementation of the ambitions set out in the joint statement will be discussed. An interim assessment will be realized at the end of 2020.

Due to the COVID-19 pandemic protection measures, the meeting took place via video conference in London and Bern.

Source: https://www.admin.ch/gov/en/start/documentation/me...

Legal disclaimer. This article does not constitute legal advice and does not establish an attorney-client relationship. The article should be used for informational purposes only.

FINMA Gives Permission to Scan Chips during the Online Identification Process

News & Media

2021-05-24

FINMA Gives Permission to Scan Chips during the Online Identification Process

The Swiss Financial Market Supervisory Authority FINMA is updating the procedure of the online identification using the NFC verification by scanning the chip embedded in biometric identity documents.

FINMA publishes its enforcement actions

News & Media

2021-04-07

FINMA publishes its enforcement actions

The publishing of this case report confirms FINMA's accountability obligations regarding its enforcement activities. The case report includes anonymized and generalized cases which were concluded with a court decision.

The IPI and Swiss exporters unite to combat the “Swissness” misuse

News & Media

2021-04-06

The IPI and Swiss exporters unite to combat the “Swissness” misuse

Bern, April 04, 2021 – The Swiss Institute of Intellectual Property (IPI) took an active role in 280 cases of “Swissness” excessive use in 2020. The IPI controls the use of the Swiss national emblem and destroys such goods during the customs examination. Now private and high officials start working together to control the “Swissness” fare dodger abroad.

Start of finance.swiss information platform

News & Media

2020-12-15

Start of finance.swiss information platform

The Swiss Financial Market Supervisory Authority FINMA recommends that the supervised parties affected by the LIBOR replacement sign the new Fallback Protocol of the International Swaps and Derivatives Association (ISDA) in the shortest time possible.