The Federal Council supports a sound financial market policy that is dynamic at the same time. This policy is based on stable objectives and guidelines, but it also needs to be sufficiently adaptable in order to allow for an optimal response to evelopments in the rapidly changing financial environment.
With the report «Financial market policy for a competitive Swiss financial centre», the Federal Council is specifying the principles. Five key thrusts of the financial market policy demonstrate how the Swiss financial centre's opportunities and challenges will be addressed and how the centre's competitiveness should be maintained:
- Maintaining and improving market access: Possible bilateral agreements will be sought with partner countries, as will EU recognition of the equivalence of Swiss financial market regulation in areas where this is meaningful from an economic perspective.
- Allowing for innovation: Disproportionate barriers to market entry, e.g. for fintech firms, should be removed by adjusting the legal framework. The financial market policy should play a supportive role also in the area of sustainable investments.
- Optimising regulatory content and processes: Reform projects are to be carried out in consultation with the sector. Economic impact analyses will be started at an early stage and will go into more depth as regulatory projects progress. Moreover, comprehensive and independent ex-post evaluations will be carried out on important financial market regulations.
- Limiting systemic risks: In accordance with its statutory mandate, the Federal Council will continue to carry out periodic reviews of its "too-big-to-fail" regime for systemically important banks. In addition, more attention should be paid to systemic risks in the real estate market and in the area of occupational pensions.
- Ensuring international compliance in the areas of taxation and money laundering: Internationally recognised standards are a benchmark for Switzerland's policy in the areas of taxation and money laundering. In order to achieve a level playing field, Switzerland is committed to broad implementation of these global standards in international bodies.
A stable and competitive financial sector that functions well is a mainstay of the Swiss economy. It is the federal government's job to provide optimal framework conditions for this sector's business activities. The Swiss financial centre should continue to assert itself as one of the world's leading locations for financial business and even be able to strengthen this role.
- Final report of the group of experts on the further development of the financial market strategy (Brunetti II)) (PDF, 235 kB, 05.12.2014)
- Bericht der Expertengruppe Weiterentwicklung der Finanzmarktstrategie (Brunetti I, only in German-French-Italian) (PDF, 637 kB, 14.06.2013)
- Switzerland's financial market policy (PDF, 831 kB, 19.12.2012)
- Bericht des Bundesrates über die Bedeutung des US-Dollars und des US-Zahlungs- und Abwicklungssystems für den Schweizer Finanzsektor in Erfüllung des Postulats 13.3651 (in German only) (PDF, 178 kB, 13.08.2015)
- Das Verhalten der Finanzmarktaufsicht in der Finanzmarktkrise - Bericht in Beantwortung des Postulats David (08.4039) und der Motion WAK-N (09.3010) (in German only) (PDF, 231 kB, 12.05.2010)
- The Conduct of Financial Market Supervision during the Financial Crisis (PDF, 309 kB, 18.01.2010)
- Expertengutachten über das Verhalten der Finanzmarktaufsicht in der Finanzkrise (in German only) (PDF, 169 kB, 31.12.2009)
Last modification 07.02.2018