SwissBanking
The online magazine of the Swiss Bankers Association
2018/06/28 00:25:00 GMT+0

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Actively shaping the change

Actively shaping the change

Dear readers

Reliability and change are currently shaping our sector simultaneously, and this to a degree probably never seen before. While customers continue to look for and find stability and security at Swiss banks, the financial centre as a whole is working on numerous digitalisation and innovation-related projects in order to ensure their competitiveness in this dynamic time. This issue of insight is also a reflection of that fact.
Herbert J. Scheidt
by Herbert J. Scheidt, Chairman

As bankers, we were recently able to rely on the Swiss electorate: the Sovereign Money Initiative was overwhelmingly rejected by Swiss voters. With the approval of the missing building blocks, the Financial Services Act (FinSA) and the Financial Institutions Act (FinIA), Parliament also demonstrated that the financial centre is being looked after: it recently finalised both laws and in doing so, has after several years modernised the financial market law architecture. As a result, we now have contemporary investor protection, a matter we address in this issue of insight. The completion of the two draft laws FinSA and FinIA is also a big success for our association and the entire financial centre: after longstanding and intensive deliberations in Parliament, practicable and expedient legislation has been adopted.

The sector and the Swiss Bankers Association (SBA) continue to work hard on digitalisation and innovation, as highlighted in the articles about cloud services, blockchain and regtech. A more commensurate regulation, which could reduce the burden for many banks, remains an area of focus in the work done by the association.
 
Reliability is just as much a strength of the financial centre as our ability to actively shape change. I wish you enjoyable reading and look forward to meeting many of you at Bankers Day in September.