Ukraine war no threat to Swiss banks, says financial watchdog
Switzerland’s financial market supervisor FINMA says the Russian invasion of Ukraine isn’t a wide-scale threat to Swiss financial firms’ business ties to Russia.
FINMAExternal link’s chief executive Urban Angehrn said that, overall, the immediate effects of risks to the financial centre were manageable and Swiss firms’ business relations to Russia were “not insignificant”.
However, Angehrn told a news conference on Tuesday that the war in Ukraine “poses numerous risks for the Swiss financial sector and accentuated risks for individual institutions”.
Angehrn, who took up his post at FINMA in November, said the watchdog was continuing to monitor the situation to see whether the war was having an impact on the financial markets.
FINMA’s president, Marlene Amstad, said the stability of Switzerland’s financial institutions was generally good.
The watchdog conducted 650 investigations and 20 enforcement proceedings last year to impose the financial market law.
It said it dealt with complex cases of money laundering as well as deficiencies in corporate governance.
Pro-Palestine uni protests to be debated in Swiss parliament
This content was published on
The Swiss People’s Party says it will launch two postulates calling for clarifications about the recent student protests and occupations.
This content was published on
A 36-year-old man from Ticino lost his life on Saturday in Val Malvaglia, in the north of canton Ticino, during a wingsuit jump from a plane.
Swiss Evangelical Reformed Church numbers dropping in French-speaking Switzerland
This content was published on
As in German-speaking Switzerland, the number of members of the Reformed Church in French-speaking Switzerland is also declining.
Gotthard traffic queue hits 20km during holiday weekend
This content was published on
The traffic jam at the Gotthard north portal reached a length of 20 kilometres on the motorway between canton Nidwalden and canton Uri.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Finance watchdog orders ‘protective measures’ at Sberbank Switzerland
This content was published on
The Swiss financial regulator has ordered protective measures in anticipation of a risk of “liquidity problems” at the Zurich-based bank.
This content was published on
Switzerland’s financial regulator has reprimanded two more banks for money laundering in connection with a Venezuelan state oil company.
This content was published on
Switzerland’s Financial Market Supervisory Authority (FINMA) on Thursday opened enforcement proceedings against the bank over the Archegos losses. The regulator is investigating whether there were deficiencies in risk management. FINMA has appointed an investigator to probe the matter at the bank. It is also exchanging information with counterparts in Britain and the United States. The…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.