3rd September 2019
The wait and anticipation are over – Switzerland finally has two newly-minted crypto banks: Sygnum and SEBA. Bitcoin Suisse is also hoping for a regulatory nod of approval towards its own banking license request. The “will they, won’t they” Sygnum/SEBA saga also reveals a bit about the mechanics… Read More
29th August 2019
A former executive at HSBC Holdings Plc’s Swiss private bank was cleared in a probe where his boss pleaded guilty to helping wealthy clients hide assets worth at least 1.6 billion euros ($1.8… Read More
28th August 2019
Switzerland’s financial regulator issued guidance on the money-laundering risks associated with blockchain technology following a call to action by a global standard-setter this year. The guidance, released Monday by the Swiss Financial Market Supervisory Authority, also known as Finma, steered blockchain businesses toward compliance with Switzerland’s existing anti-money-laundering and… Read More
28th August 2019
French authorities investigating corruption in international sports believe a Swiss partner of Japanese advertising giant Dentsu Inc played a “central and essential role” in deals used to embezzle sponsorship money and have asked Switzerland to raid its office and seize evidence, according to a person with knowledge of the probe and documents… Read More
26th August 2019
The chair of the U.S. House Financial Services Committee said on Sunday she remained concerned about Facebook’s plans for a digital currency after meeting the government officials in Switzerland that Facebook has said will regulate it. “While I appreciate the time that the Swiss government officials took to meet with… Read More
23rd August 2019
Switzerland’s vaunted private banking scene is tipped to shrink further with a third of banks struggling to make ends meet in the face of adverse conditions. An annual health check of the sector has forecast that smaller players could be “driven to extinction”. A study of 87 private banks by… Read More
21st August 2019
A former chief executive of HSBC’s Swiss unit has pleaded guilty to helping wealthy clients hide at least €1.6 million. AFP recently reported that Peter Braunwalder was fined $560,000 and received a one-year suspended sentence in France for his role in helping HSBC’s clients stash their cash. The Swiss Leaks… Read More
13th August 2019
The B.C. government is suing to seize properties in the B.C. Interior that it alleges were linked to a $200-million-plus international stock fraud. In a lawsuit filed in B.C. Supreme Court this month, the B.C. Civil Forfeiture Office alleges a $1.6-million house on Mission Ridge Road in Kelowna and a… Read More
8th August 2019
Italy’s tax authorities have made a request to their Swiss counterparts for information about possible tax evasion by UBS (UBSG.S) clients, Swiss newspaper Tages-Anzeiger reported on Wednesday. The Italian authorities are seeking help on Italian residents who held UBS accounts in Switzerland between 2015 and 2016 and who… Read More
8th August 2019
The former chief executive officer of HSBC Holdings Plc’s Swiss private bank pleaded guilty to helping wealthy clients hide assets worth at least 1.6 billion euros ($1.8 billion) as French prosecutors flex their muscles to tackle white-collar crime. Peter Braunwalder was fined 500,000 euros and given a one-year suspended… Read More