Switzerland
Swiss banks in the spotlight as Panama fallout continues
Switzerland’s financial institutions must clamp down on money laundering, the country’s financial watchdog FINMA has warned.
Dutch citizens facing Swiss bank account probe
Thousands of Dutch citizens face having details of their Swiss bank accounts combed over by tax authorities despite a court ruling that they should not have been disclosed.
Credit Suisse to cut 2,000 more jobs, save another CHF800m
Credit Suisse is to eliminate another 2,000 jobs and make an additional CHF800m (£576.1m, $824m, €733.8m) in cost savings, as it accelerates the pace of its restructuring following disappointing results in the final quarter of 2015.
Vestra to be majority owned by Switzerland’s LGT
Vestra Wealth is to become majority owned by Swiss wealth manager LGT after it struck a deal to acquire shares in the business from Vestra’s external investors.
North America | 7 Mar 16
US-Swiss FATCA exception clause very narrow
Despite the recent FATCA carve-out agreed between the US and Switzerland, US citizens looking to circumvent their tax reporting obligations will have to look further afield if they want to avoid declaring their offshore assets.