Francesc Riverola,
Hi Everybody
As you may probably already know, SFBC (Swiss Federal Banking
Commission) is decided to regulate the Foreign Exchange business in
Switzerland .
This process already started a couple of months ago and some
important brokerages are already going through the process of getting
SFBC’s approval.
One of my sources in Switzerland told me this morning that SFBC is
implementing big changes in the way Swiss brokers use to work as for
instance the fact that overnight charges are not going to be allowed anymore.
The restrictions that SFBC will require to brokers to implement to
get their approval will probably force those not strong enough to
disappear and this process could be faster than we think and could take place before the end of the year.
I’ll keep you posted about all this very interesting process.
Under my point of view, the fact that SFBC puts
order in the Swiss Foreign Exchange business should be considered as a
very good news for all the community, but we must remain alert over the
whole process.
Francesc