Federal Council takes note of final report of group of experts on "further development of financial market strategy"
Bern, 05.12.2014 - During its meeting today, the Federal Council took due note of the final report of the group of experts on the further development of the financial market strategy. It will now analyse the report and draw its conclusions. In the future, an advisory board comprised of representatives from academia, the private sector and authorities should assess the fundamental challenges and the future prospects for the financial centre, and submit recommendations to the Federal Council where necessary.
Appointed by the Federal Council on 4 September 2013, the group of experts is comprised of high-ranking individuals from the private sector, authorities and academia, and is led by Professor Aymo Brunetti. In its final report, the group made recommendations on four topics which are crucial for the future development of the financial centre, i.e. the regulatory process, market access, the tax environment in Switzerland and the risks to the national economy.
The group of experts' mandate is to cease at the end of 2014. In its place, the Federal Council has instructed the Federal Department of Finance to appoint a "future of the financial centre advisory board". This advisory board, which is likewise to be chaired by Professor Aymo Brunetti, will ensure regular exchanges on financial market strategy issues between all of the main players, and - isolated from the authorities' daily business - will assess the strategic challenges and the future prospects for financial business in Switzerland with regard to the economy as a whole. The Federal Council will decide on how to proceed with the content of the expert group's recommendations at a later date.
Address for enquiries
Prof. Aymo Brunetti, University of Bern
Tel. +41 31 631 33 85, email@example.com